Companies across industries are racing to provide the ultimate customer experience, with many viewing it as the main battleground for earning today’s business.
The investment is paying off for brands that are transforming their customer experiences—companies on average report a 4% higher revenue growth, complemented by a 1.9x higher year-over-year growth in customer retention, repeat purchases, and average order value compared to businesses that are not investing in the customer experience.
These results are not easily earned, however, and the process involves advanced data analysis to track the customer journey and optimize each step. Often, there are three or more pre-purchase customer touchpoints that marketers have to track, and purchase cycles can easily take more than four months for some industries.
Despite these hurdles, companies are doing everything they can to win on the customer experience. But what if companies applied these same strategies to transforming another key experience in a company—the employee experience? In many cases, a company’s employees are not receiving the same focus as the customers, and it’s hurting your bottom line.
To truly be future-ready, companies must invest in both the customer and the employee experience to reach optimal business performance. Luckily, you can take a page from the customer experience playbook to transform your employee experience.