Customer Experience: a Key Competitive Advantage

Customer experience (CX) is one of the most important competitive advantages for companies today, but a significant number of Hungarian companies are still at a disadvantage in this area, the Hungarian Marketing Association told the state news agency MTI.

According to a Hungarian survey of companies with more than 250 employees, customer experience is part of the business strategy of almost half of them. Its absence is particularly noticeable in the online market, where businesses are less able to compete with more prepared competitors. The gap is also evident in regional comparisons, with Hungarian firms at a growing disadvantage, they added.

Spending on the customer experience is a good investment, but it also means planning carefully and consciously to understand customers' needs. However, only a third of large Hungarian companies carry out such research when launching a product or service, so they can discard uncompetitive initiatives in time. Customer satisfaction surveys are used by even fewer, only 17%, although a much higher proportion of companies have the necessary data available, with 53% conducting such surveys regularly.

"Customer experience cannot be left to chance, because if it is done well, customers will become more loyal to the vendor," they wrote. Companies need to offer tailored solutions to achieve this, and it is not enough to simply elevate customer experience to the level of corporate strategy, companies must also make sure it is delivered.