Customer experience, or CX, has begun to shift in a way that may well spell your company’s future success. While many small businesses continue to try to compete on price alone, it has become evident that CX is now a determining factor with regard to whether brands will remain competitive. As customer behavior continues to morph, it can be challenging to know what is working and what is not working. In some recently published research by Techjury, the CX shift is laid bare so that small businesses can begin to prepare for a stronger future. The following is taken directly from that published research:
- When learning about a new product, 60% of customers say they trust the reviews that come from friends, family, and other customers. (Source: Hubspot)
- There is an 80% increase in revenue for businesses that focus on improving customer experience. (Source: Forbes)
- 73% of customers agree that customer experience helps to drive their buying decision. (Source: PWC)
- 86% of customers say that they are ready to pay more if it means getting a better customer experience. (Source: Super Office)
- 49% of customers agree that they have made impulse purchases after an excellent, customized personal experience with a brand. (Source: Dot Digital)
- Businesses that prioritize customer experience have a revenue increase of 4-8% higher than their competitor. (Source: Forbes)
- 89% of consumers have moved to a competitor following a poor customer experience with a brand. (Source: Lumoa)
- Customer-focused companies increase their revenue 1.4x faster than non-customer-focused companies.(Source: Forrester)
- 74% of customers will most likely switch brands if their favorite one’s purchasing process gives a miserable experience. (Source: iPerceptions)
- According to 70% of customers, excellent customer experience should be fast, convenient, helpful, and must do all of that in a friendly manner. (Source: Adobe)A positive customer experience encounter can increase customer spending by up to 140%. (Source: Deloitte)
- 87% of customers would come back to make another purchase from a brand if their previous experience(s) were recorded as very good. (Source: Experience Matters)
- 72% of people that have a positive customer experience will share their story with six or more people. (Source: Nice Reply)
- 57% of customers say that they don’t recommend a brand if it has a poorly designed website that is not optimized for mobile. (Source: Sweor, Statista)
- 92% of customers would forget about a brand after experiencing two or three negative customer experiences with that same brand. (Source: Super Office)96% of customers agree that customer service plays a vital role in their choice of loyalty to a brand. (Source: Microsoft)
-Written by Kevin Sawyer
