5 Customer Experience Stats You Need to Know in 2022
If you’re a service brand, customer experience should be your main focus heading into 2022 and beyond, without a doubt. A quality, personalized customer experience is your lifeblood - it’s what dictates whether customers come back for more and recommend your service to others. It’s simple: the brand with the best experience wins. That explains why when 1,920 business professionals were asked what their number one priority is for the next five years, 45.9% said customer experience, beating product (33.6%) and pricing (20.5%). Okay so maybe there’s 6 stats in here, forgive us. The point is, customer experience is super important. But just take it from us, we’ll let the following stats do the talking.
- Customers who have positive experiences with a brand spend 140% more than those who have negative experiences.
All businesses share at least one common goal: to make moolah. Although investing in customer experience may feel like a cost, the return is undeniable. When you invest in customer experience - that is formulating a strong CEM strategy, investing in your frontline teams, and leveraging technology to streamline and automate processes - your customers will spend approximately 140% more with your business.
- 32% of customers “break up” with a favorite brand after one poor customer experience.
It only takes one bad date. In today's hyper competitive market it’s increasingly difficult to retain customers based solely on your product, service and price. Customers stay loyal with companies due to the experience they receive and the companies who can’t keep up with these demands get left behind.
With similar service offerings around every corner, businesses who don’t put the experience of their customers first are losing business at an alarming rate, with 32% of customers “breaking up” with a favorite brand after just one poor customer experience.
To avoid these poor experiences and ensure your service promise is met every time, in every location, with every customer, you can use a frontline coaching platform. This helps to ensure customer expectations are met, and the very people responsible for delivering the experience feel empowered, motivated and supported in their work.
- Companies who personalize their interactions and experiences with customers can increase customer satisfaction by up to 40%.
Personalization drives engagement and builds meaningful relationships. According to research from McKinsey and Company, customers now view personalization as the default standard of engagement.
An awesome example of personalized customer experience is the Starbucks app, which was the most commonly-used platform for mobile payments until late 2019 when Apple Pay finally took over the coffee brand. From the app, customers can place and save their favorite orders, earn reward points and schedule pick-ups to suit their schedule.
As brands get to grips with the idea of using technology to develop closer and more personalized relationships, we’ll likely see some exciting innovations in the personalization space.
- 66% of customers state that a poor web and mobile experience damages their perception of the overall brand.
User experience (UX) is another slice of the customer experience pie. How your customers interact with your brand online, will directly impact their perception.
You can create web and mobile customer journey maps to better understand how your customers experience your brand online, and what loopholes they may run into. It’s also critical to gain customer feedback, to better understand in your customer’s own words what they like and what they dislike about the online experience.
When it comes to providing a positive experience across the web, mobile customer service is expected to soar. A recent report by Stat Counter claims, 52% of all internet traffic (stat #7 we’re not counting, are you?) now comes from mobile, with desktop usage on a trending decline.
Optimising your digital experiences results in improved customer experiences. Sites with high UX ratings share some fundamental traits:
- Fast loading
- Easily navigated
- Aesthetically appealing
- Streamlined checkout system (if applicable)
- When given a positive customer experience, 72% of customers will share their experience with six or more people.
Word of mouth marketing rocks! When your team delivers awesome experiences, the impact instantly ripples out to reach new customers. Plus, customers referred by friends or family spend 23% more money on average than those not referred (final stat, promise).
An epic example of this is New Zealand Home Loans (NZHL), who gained a 7x increase in referrals after coaching their frontline team to consistently deliver on their service promise.
“Consistently delivering on our brand promise is crucial. AskNicely gave us the power to understand where the gaps were, then made it super easy to coach for those gaps. From there, automating followup on referrals from our happy customers is icing on the cake.” — Chris Wong, Head of Customer, NZHL.
Thanks to their location specific coaching, NZHL have seen a 13 Point improvement in NPS from their bottom tier locations. They have also seen a marked increase in the number of referrals captured from their bottom and middle tier locations, and automating the follow up on referrals has resulted in an 80 (yes, eight-zero!) percent close rate.
There you have it, 5, well, 8, customer experience stats you need to know in 2022. In an increasing product and service competition, differentiating through experience is now not optional but a must. While these statistics are fascinating to ponder, they require action.
Ready to modernize and improve your customer experience program and connect your frontline to your bottom line?