The Experience Economy: The Importance of CX in Today’s Business World
These days, the average consumer places more value on experiences than they do on products.
The customer experience (or CX) matters more than ever before, and businesses that make it a priority can increase revenue by 4 to 8 percent more than others in their fields. The tradeshow and exhibiting industry is no exception to this rule.
Do you need help improving customer experience at your events? Read on to find out how.
What Is CX?
Customer experience is an umbrella term. It sums up all aspects of a business that affect the customer’s perception of and feelings about it.
Customer experience involves all the ways that a customer interacts with a company. This includes the marketing materials they see, all stages of the sales experience, the quality of the business’s product or service, and the customer service they receive along the way (including after they’ve made a purchase).
Why Does Customer Experience Matter?
When you provide a positive customer experience, great things can happen for your business, especially when it comes to attending trade shows and other events. The following are some of the most noteworthy benefits you, your team, and your customers can enjoy:
- Increase Company Competitiveness: When you make customer experience a top priority, it’s easier for you to stand out from other businesses in your industry. People will be more attracted to your brand and want to see what you have to offer. In the context of trade shows and exhibitions, consider this: A quality customer experience can help you to attract more visitors. It will draw people to your booth instead of one of the hundreds of others at the event.
- Increase Customer Loyalty: Your customers are more likely to be loyal to your brand if you offer a positive experience from start to finish. Fifty-six percent of customers say they will stay loyal to brands that “get them.” If you have a deep understanding of your customers’ needs and priorities and provide the kinds of experiences they value, they’ll stand by you long-term. For trade show runners, this is a particularly important point to keep in mind. If you provide a great experience to vendors and show attendees, they’ll continue coming back to your event year after year.
- Increase Sales and Revenue: Finally, we can’t ignore one of the most appealing benefits of prioritizing customer experience. When you have more loyal customers and they’re attracted to your business instead of your competitors’ businesses, you will see an increase in sales and increased revenue over time. If you’re looking to boost your bottom line, focusing on CX is a must.
How to Create an Interactive Customer Experience at Your Next Event
Trade shows and other exhibition-related events are all about experiences. The events themselves are designed to provide positive customer experiences. Each business that attends, in turn, has to go above and beyond to stand out from the crowd and create an impressive experience. Here are some tips to help you and your team accomplish this at your next event:
- Hype People Up Before the Show: When it comes to trade shows and exhibitions, the customer experience starts long before the actual event takes place. Get people excited about what your business has to offer in advance by using social media. You can post on your company’s blog or website to hype customers up, too. Let your audience know what kinds of experiences you plan to offer and what they can expect if they attend the event or stop by and visit your booth.
- Use the Right Technology: Technology is at the forefront of the experience economy. If you want to spread the word about your business, separate yourself from the crowd, and provide an impressive experience to all customers, technology can help a great deal. In addition to utilizing social media, you may want to consider other types of tools like touch screen kiosks. Look into creating and promoting a trade show app as well to allow for easier networking and event navigation.
- Offer Games and Contests: Gamification goes a long way when it comes to providing a great experience to customers. Games and contests provide a fun and easy way for people to engage with your business, learn about your products and services, and get something in exchange for their efforts. If you want people to interact with your brand at your next trade show, think of a game or contest that will make it exciting. This allows you to draw people over to your booth, connect with them, and make the event as memorable as possible.
The Experience Economy Is Here to Stay
Providing a customized, high-quality customer experience helps you to stand out from your competitors and make a good impression, especially in the trade show and exhibition space. Keep the tips and trends listed above in mind and you’ll have no trouble creating an engaging, interactive experience for current and future customers.