Key Highlights
- 86% of buyers are willing to pay more for better customer experience
- 73% of consumers say a good experience is key in influencing their brand loyalty
- 81% of companies compete primarily on customer experience
- 70% of customers say connected processes are very important to winning their business
- 75% of consumers expect consistent interactions across departments
- Companies with a customer experience mindset drive revenues 4-8% higher than their competitors
- 54% of consumers have higher expectations for customer service due to digital transformation
- 67% of consumers consider their experience with a brand to be more important than the product or service itself
- 59% of consumers feel companies have lost touch with the human element of customer service
- 80% of customers who had a positive experience with a company are likely to recommend it to others
- 65% of businesses say improving customer experience is their top priority
- 90% of US consumers say they’re likely to revisit a brand after a positive customer service experience
- 82% of consumers feel more positive about a brand after having a good customer service experience
In an era where 86% of buyers are willing to pay more for better experiences and 81% of companies compete mainly on customer satisfaction, understanding the pivotal role of customer experience in the information industry has never been more crucial for brand loyalty and revenue growth.
Company Performance and Competition
- Companies with a customer experience mindset drive revenues 4-8% higher than their competitors
Company Performance and Competition Interpretation
Customer Expectations and Preferences
- 86% of buyers are willing to pay more for better customer experience
- 70% of customers say connected processes are very important to winning their business
- 75% of consumers expect consistent interactions across departments
- 54% of consumers have higher expectations for customer service due to digital transformation
- 59% of consumers feel companies have lost touch with the human element of customer service
- 65% of businesses say improving customer experience is their top priority
- 91% of consumers want to access customer service on their own terms, via their preferred channels
- 60% of consumers say they will pay more for a better experience
- 70% of customers say connected processes are very important to their loyalty
- 63% of consumers want brands to personalize their experience based on previous interactions
- 68% of users research products online before making a purchase decision, showing the importance of digital customer experience
- 65% of consumers feel that brands could do better with digital customer service
- 55% of customers say they will switch brands if they don’t receive timely responses
- 89% of consumers say they are more likely to buy from a company that personalizes their shopping experience
- 70% of consumers expect consistent information across channels
- 66% of consumers expect companies to recognize them across multiple channels
- 58% of consumers say that their biggest frustration is inconsistency in customer service
- 59% of customers prefer to resolve their issues via self-service channels such as FAQs and chatbots
- 84% of customers say that a quick response is the most important factor in customer service
- 67% of customers feel frustrated when their issues aren’t resolved quickly
- 90% of consumers expect companies to have a mobile-friendly customer experience
- 69% of consumers prefer online chat for customer service over phone or email
- 78% of consumers follow brands on social media for customer support updates
- 65% of consumers feel that companies lack transparency in their customer dealings
- 59% of consumers are more likely to engage with brands that proactively address issues
Customer Expectations and Preferences Interpretation
Customer Experience and Satisfaction
- 73% of consumers say a good experience is key in influencing their brand loyalty
- 81% of companies compete primarily on customer experience
- 67% of consumers consider their experience with a brand to be more important than the product or service itself
- 80% of customers who had a positive experience with a company are likely to recommend it to others
- 90% of US consumers say they’re likely to revisit a brand after a positive customer service experience
- 82% of consumers feel more positive about a brand after having a good customer service experience
- 78% of consumers have backed out of a purchase due to poor customer service
- 89% of companies expect to compete largely on customer experience in the next 3 years
- 72% of companies say customer experience is a key brand differentiator
- 44% of consumers will tell friends or family about a poor customer experience
- 80% of consumers say that a positive customer service experience influences their brand loyalty
- 78% of companies that leverage customer feedback report improved customer satisfaction
- 78% of consumers want companies to use their data to better tailor experiences
- 85% of customers have stopped doing business with a company due to poor customer experience
- 71% of customers say their customer service experience influences their loyalty
Customer Experience and Satisfaction Interpretation
Data Privacy and Trust
- 62% of customers feel that their personal data is not adequately protected online
Data Privacy and Trust Interpretation
Digital Engagement and Personalization
- 72% of consumers say they expect companies to personalize communication and offers
- 70% of customers prefer personalized emails based on their browsing and purchase history
Digital Engagement and Personalization Interpretation
Sources & References
- Reference 1ACCENTUREResearch Publication(2024)Visit source
- Reference 2SALESFORCEResearch Publication(2024)Visit source
- Reference 3GARTNERResearch Publication(2024)Visit source
- Reference 4SHERPASERVICEResearch Publication(2024)Visit source
- Reference 5BAINResearch Publication(2024)Visit source
- Reference 6MCKINSEYResearch Publication(2024)Visit source
- Reference 7PWCResearch Publication(2024)Visit source
- Reference 8ORACLEResearch Publication(2024)Visit source
- Reference 9INSIDEDIGITALResearch Publication(2024)Visit source
- Reference 10INSIDEINTERCOMResearch Publication(2024)Visit source
- Reference 11INSIDEPRIVACYResearch Publication(2024)Visit source