Why Employee Ownership Can Improve Customer Experience

Improving Customer Experiences

Before diving into the strategies, let’s take a step back and understand why customer experience (CX) is so important. Simply put, Customer Experience encompasses every interaction a customer has with your business, whether it’s through browsing your website, speaking to your team or making a purchase. It's the sum of all these experiences that shape your customer’s overall impression of your business.

For businesses looking to improve customer experience is particularly critical because:

1. It Builds Trust and Loyalty: Customers who have a positive experience are more likely to return. Loyal customers are invaluable; they’re more likely to make repeat purchases and share your business with friends and family.They are also more cost effective to retain than acquiring new ones.

2. It Generates Word-of-Mouth: Satisfied customers are likely to become your brand advocates. They’ll recommend your business to others, driving new customers and expanding your reach. According to Oracle, 70% of loyal customers actively recommend a company to others.

3. It Drives Revenue: Happy customers tend to spend more, and they’re more likely to try new products or services from your business. A great experience leads to a direct impact on your bottom line. Research from the Harvard Business Review underscores this link even further: customers who have had exceptional past experiences spend 140% more than those who have had the worst experiences.

The power of customer experience lies in its ability to create trust. If customers trust your business, they’ll keep coming back.

How best to Improve Customer Experiences

KYC (no, not KFC) - Know Your Customers (And Let Them Know You Know Them)

One of the most valuable assets for small to medium sized  businesses is the ability to get to know their customers on a personal level. Unlike larger companies, which often struggle with anonymity, small businesses have the unique advantage of building strong relationships with customers.

• Listen to Their Feedback: Regularly gather customer feedback through surveys, social media or even informal conversations. Ask them what they love, what they wish was better and what would make them return.

• Personalise Their Experience: Use the information you gather to personalise your interactions. If you have a customer who regularly orders a specific product, offer them tailored recommendations. Send them a birthday message or offer them a special deal based on their preferences. Small gestures make customers feel valued.

• Track Customer Data: You don’t need a massive CRM system to start tracking basic customer information. A simple spreadsheet or low-cost tools can help you keep track of customer preferences, past purchases and special dates. This allows you to cater to their needs better, every time. For those using a website, some classic examples of data are Google Analytics and Microsoft Clarity. 
  

Empower Your Employees for Better Customer Service

Customer experience is about how your team treats customers. Employees who feel engaged and valued are more likely to go the extra mile for customers. This is where employee ownership can make a huge difference.

Employee ownership means that employees have a stake in the success of the company. They don’t just see themselves as workers - they feel like part of the business. When employees are empowered, they take more initiative, solve problems faster and provide a higher level of service. It’s a win-win situation for both employees and customers. Find out more about the difference between Employee Ownership Trusts (EOTs) and Employee Stock Options Plans (ESOP).

Even if your business isn’t fully employee-owned, you can still create a sense of ownership among your team by:

• Encouraging Autonomy: Give employees the power to make decisions when dealing with customers, such as resolving complaints or making small adjustments to services. This autonomy encourages a sense of responsibility.

• Recognising and Rewarding Efforts: Publicly acknowledge employees who go above and beyond for customers. This boosts morale and shows that great customer service is valued.

• Investing in Training: Provide regular training so employees can develop their skills, especially in areas like conflict resolution and empathy. When employees feel confident in their roles, they’re more likely to create positive experiences for your customers.

An empowered, motivated team is critical to delivering exceptional customer service. When employees feel ownership and pride in their work, it shows in the way they treat your customers.

Simplify the Customer Journey

Today’s customers expect a seamless experience. They want things to be quick, easy and hassle-free. Whether they’re browsing your website or visiting your store, making the journey as smooth as possible will leave a lasting positive impression.

• Optimise Your Website: Your website should be user-friendly, fast and easy to navigate. Customers should be able to find the information they need quickly. If you’re running an online store or service, ensure the checkout process is simple and secure. Adding live chat, an AI Chatbot or an FAQ section can also help customers find answers to common questions instantly. Some popular livechat tools are:
  - Tawk.To
  - ZenDesk
  - LiveChat

• Clear Communication: Make sure that your customers know what to expect at every step. If there are any delays, be proactive in informing them. Set clear expectations around delivery times, return policies, and service guarantees.Never overpromise and underdeliver - be honest from the beginning.

• Multi-Channel Availability: Ensure your business is accessible across multiple channels, such as social media, phone, email and live chat. This way, customers can reach you on their preferred platform, ensuring a smoother, faster interaction.
  

Focus on Customer Service and Resolve Issues Quickly

Excellent customer service is what keeps people coming back. No matter how great your products or services are, things can go wrong. What matters most is how you handle those situations.

• Respond Quickly: When customers have an issue, addressing it quickly shows that you care. Whether it's a complaint, a question or a request for assistance, timely responses are key.

• Empathise with Customers: Train your team to be empathetic. Acknowledge the customer’s frustration and make them feel heard. The way your team handles negative situations can turn an upset customer into a loyal one.

• Follow-Up After Resolution: Don’t just resolve the issue - make sure the customer is happy with the solution. A follow-up email or call to check in shows that you care about the customer’s satisfaction and are committed to improving.

By resolving customer issues quickly and effectively, you not only retain that customer but also build trust and loyalty.

Creating a Customer-Centric Culture

Improving customer experience is a continual process that requires attention to detail, empathy and dedication. Small to medium sized businesses have the advantage of being able to build personal connections with customers. 

Incorporating employee ownership into your business model can take your customer service to the next level. When employees feel invested in the business, they’re motivated to provide exceptional service that aligns with your customer-centric goals.