The Value of Customer Experience
Customer experience focuses on the experiences that customers have with a particular business and its products and services. A positive customer experience can lead to increased customer loyalty and retention, whereas a subpar or a negative customer experience results in losing customers and profits. According to Salesforce, “you need to ask yourself the following questions – are we doing enough to meet customer expectations? Are we evolving our customer service to keep pace with evolving technologies? Is our customer service the best possible representation of our brand?” Not all customers will voice their negative experiences openly. Some customers “quietly abandon” the business without saying a word and move on to another brand that will give them what they desire. To avoid such a situation, it’s important to pay attention to statistics related to customer experience. This blog will talk about various statistics that are related to customer experience so that your business can thrive in the present and in the future.
66% of customers expect companies to understand their needs.
It’s a no-brainer that customers expect their needs and expectations to be understood and fulfilled. Bonus points for figuring it out on your own! When customers attempt to voice their queries and concerns, they expect you to actively listen and find a solution as fast as possible. Actively listening to what your customers have to say about your products and services will help you understand how to improve your products and services. Sometimes emotions become unpredictable. You never know what’s going on behind those closed doors. You may experience a slight shock at first, but at the end of the day, it is all about the customer and what they are looking for in your business.
88% of people trust companies that vow not to share their personal information without permission.
Data privacy is a big deal for customers to be able to trust a brand. This kind of information refers to the person’s name, phone number, date of birth, geographic location, or online behavior. Data privacy is a basic human right. Customers are entitled to keep their personal information to themselves. It’s normal for customers not to trust your business at first. Some customers may continue not to trust your business to protect their information because they do not wish to receive unnecessary emails. Personal data can be mishandled and misused in so many ways, especially when it’s been hacked. Nowadays, criminals find tactics to use personal data to harass people and commit fraud. They also sell personal data to unwanted sources without consent, resulting in people being scammed through phishing, hacking, and identity theft strategies. For businesses, a breach like this can be a major setback for their reputation.
61% of customers have written a bad review about a brand after a negative customer service experience.
Receiving a positive customer review is like winning a major award. Most of the time, customers choose to voice their opinions on social media platforms so that other potential or current customers can see their feedback. Normally, businesses tend to pay attention to negative reviews rather than the positive ones. There is no doubt that feedback can make or break the fate of your business. The important thing to remember for businesses is that social media is not the enemy. Negativity can inspire you to work out the chinks in the armor. Customers will remember situations of conflict they observed, and possibly pass those stories onto other potential or current customers. Handling the situation with dignity will allow you to maintain the stable reputation you have for your business.
68% of loyal customers will join a loyalty program if offered
Loyalty programs create amazing opportunities for you to build a stable relationship with your customers. Businesses use omnichannel marketing to promote such programs to their customers. If handled and executed well, these programs give your customers a sense of excitement and energy when coming back for another purchase. Such programs allow you to discover and learn the needs and expectations of your customers. You want your customers to love your brand for as long as possible. This means having engaging loyalty programs that provide incentives that they care about. These programs are crucial for building an audience of customers.
32% of customers “break up” with a favorite brand after one poor customer experience.
Generally, customer breakups do have a negative impact on your business. However, they can also be a blessing in disguise. Businesses should change their mindset from “please don’t break up with us” to “customers need to do what is best for them”. It is absolutely normal for customers not to be impressed with your products and services. The negativity customers bring to the table is a great opportunity for you to make the experience better for the next customer that comes across your brand. Some customers are just not worth the time and energy. There is no reason for businesses to take unnecessary abuse from a customer just because they are not satisfied. Obviously, businesses cannot escape problems. They will come across angular and agitated customers. Addressing negativity in a dignified manner will allow businesses to find better ways to improve their products and services.
Gathering Your Own Data and Statistics About Your Customers
Customer experience changes every day. For your business to succeed, you need to keep up with them as much as you can. PxidaCX is a great and powerful tool to help you understand where your business stands against your competitors. With the variety of surveys included, you can ensure that your business truly keeps up with the current statistics for customer experience. Sign up for a free trial today!