| |DECEMBER 20188Consultants ReviewIN MY OPINIONTHE SIGNIFICANCE OF DEVELOPING CONSUMER EXPERIENCE FOR ACHIEVING HIGHER BUSINESS EFFICIENCYA young entrepreneur from Delhi, Rohit's strong inclination towards technology and a zeal to make it big in life gave him the idea of starting his own company of technologically advanced goods & gearsBy Rohit Dhingra, Co-Founder, TAGGt present, companies all over the world are acknowledging the significance of devel-oping consumer ex-perience realizing that it can either make or break their business. Build-ing a great relationship with custom-ers is essential to fuel your business. In order to develop a great and inter-active experience for the consumers, understanding their journey is of prominent importance.The consumer's perception to-wards a particular product or ser-vice shapes up the structure of the respective business and in order to support this perception, companies need to take care of the consumer ex-perience right from the initial stages. The consumer experience shall not end even after the purchase has commenced, but the actual priority task commences right after it. Skil-ful after sales services and exciting offers are something that leaves the most significant impact on consum-ers' mind. No matter how good expe-rience the consumer had during or before the purchase, poor after sale services can negatively impact their overall experience. Every bad expe-rience refrains the consumers from opting again for the brand; how-ever, what makes this situation even worse is the negative word of mouth that they may spread amongst their close companions and family. Word-of-mouth is one of the most underrated, yet powerful tools of marketing. Every year, the compa-nies spend an enormous amount of money on marketing in order to gain the desired visibility and win the consumers' trust. If implemented in the right course, the impact of word of mouth can help companies to save a large amount of their profits that they divert towards various forms of marketing. Providing consumers with satisfaction will not just pro-vide business with word of mouth publicity, but will also empower con-sumer loyalty towards the company. A great personal experience of a pre-vious customer acts as a testimonial, which puts every company far ahead of its competitors. Negative word of mouth should be kept in check to avoid losing old as well as potential customers. The fact that attracting a new customer requires considerably more cost & effort than to retain an old one, improving customer experi-ence becomes even more important. Customer experience is the most powerful tool of marketing at pres-ent. As the competition is getting more cutting edge with every pass-ing day, it enables companies to dif-ferentiate themselves in a compre-hensive market. With the availability of more than hundreds of options in each category, the modern custom-ers have multiple choices. The only way to engage them is to provide them with a unique experience as the modern customer is much more informed and empowered. They educate themselves thoroughly be-fore making the final decision of purchase and expect the best ser-vices when they approach you with their dilemma. A
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