With intense competition in the market, the ability to distinguish yourself from your competition is diminishing, however one thing that clearly stands out and can never be replaced is Customer Experience (CX). Simply put, it's how customers perceive their interactions with your company. Before proceeding, mind you, some of these customer experience statistics might surprise you!
CX can be as simple as browsing a website to receiving customer support on a raised query. Customer experience is not limited to channels, and neither is it a one-time experience. It is the sum of experiences at every customer-company touchpoint measured throughout the customer lifecycle.
But, just how important is customer experience for your company? Should you be focusing on CX? Let’s justify it with some numbers. Here are 50 important customer experience statistics you need to know in 2018:
Importance of Customer Experience Statistics
- “By 2018, more than 50% of organizations will implement significant business model changes in their efforts to improve customer experience.” - Gartner
- “Customer Experience will overtake price and product as the key brand differentiator by the year 2020.” - Walker
- "70% of buying experiences are based on how the customer feels they are being treated." - McKinsey
- “55% of consumers would pay more for a better customer experience.” – Defaqto Research
- “72% of businesses say that improving the customer experience is their top priority.” - Forrester
- By 2016, 89% of companies expect to compete mostly on the basis of customer experience, versus 36% four years ago.” - Gartner
- “Australian businesses lose $720 per bad customer experience.” – Ernst and Young
- “Only 31% of organizations recognize and reward employees across the company for improving the customer experience.” – Forrester Research
- “Companies that excel at customer experience grow revenues 4-8% above the market.” - Bain & Co.
- “62% of companies view customer experience delivered by the contact centers as a competitive differentiator.” - Deloitte
- “In the U.S., the estimated cost of customers switching due to poor service is $1.6 Trillion.” - Accenture
Customer Service Statistics
- “Companies lose more than $62 billion due to poor customer service.” - NewVoiceMedia
- “89% of customers get frustrated because they need to repeat their issues to multiple representatives.” - Accenture
- “It takes 12 positive customer experiences to make up for one negative experience.” – Parature
- “91% of customer who had a bad customer experience won’t willing do business with your company again.” - Glance
- “45% of US consumers will abandon an online transaction if their questions or concerns are not addressed quickly.” – Forrester
- “A customer is 4x more likely to buy from a competitor if the problem is service-related, versus price or product-related.” – Bain & Co.
- “75% of online customers expect help within 5 minutes.” - Mckinsey
- “33% of consumers would recommend a brand that provides a quick but ineffective response.” - Nielsen-McKinsey
- “89% of consumers have stopped doing business with a company after experiencing poor customer service.” – RightNow Customer Experience Impact Report
- “95% of consumers talk about poor customer service experiences with other people.” - American Express
- “80% of companies say they deliver 'superior' customer service; however, 8% of people think these same companies deliver 'superior' customer service.” - Bain & Co.
- “70% of consumers say technology has made it easier than ever to take their business elsewhere.” - Salesforce
- “By 2020, customers will manage 85% of the relationship with an enterprise without interacting with a human.” - Gartner
- “Consumers are 2x more likely to share their bad customer service experiences than they are to talk about positive experiences.” - American Express 2012 Global Customer Service Barometer
- “82% say that getting their issue resolved quickly is the number 1 factor to a great customer experience.” - LivePerson
- “Customer churn is attributed to the poor quality of customer service.” - Accenture
- “It is 6-7 times more costly to attract a new customer than it is to retain an existing customer.” – White House Office of Consumer Affairs
- “45 percent of companies offering web or mobile self-service reported an increase in site traffic and reduced phone inquiries.” – CRM Magazine
- “90% of customers say they have had poor experience seeking customer support on mobile.” - Software advice
- “40% of customers begin purchasing from a competitor because of their reputation for great customer service.” - Zendesk
Omnichannel Customer Experience Statistics
- “By 2020, the demand for an omnichannel customer experience will be amplified by the need for nearly perfect execution.” - PWC
- “Companies with the strongest omnichannel customer engagement strategies retain an average of 89% of their customers, as compared to 33% for companies with weak omni-channel strategies.” - Aberdeen Group Inc.
- “15 years ago, the average consumer typically used two touch-points when buying an item and only 7% regularly used more than four. Today consumers use an average of almost six touch points, with 50% regularly using more than four.” - Marketing Week
- “Organizations on average, use 35 different data gathering systems with little to no integration.” - Forbes Insights and Sitecore
- “Consumers prefer assistance over the following channels: Phone (61%), email (60%), Live Chat (57%), online knowledge base (51%), “click-to-call” support automation (34%)” - eConsultancy
- “Businesses that adopt omnichannel strategies achieve 91% greater year-over-year customer retention rates compared to business that don’t.” - Aspect
- “64% of customers expect to receive real-time assistance regardless of the customer service channel they use.” - Zendesk
- “Maximizing satisfaction with customer journeys has the potential not only to increase customer satisfaction by 20% but also to lift revenue by up to 15% while lowering the cost of serving customers by as much as 20%.” - McKinsey & Company
- “42% of customer service agents are unable to efficiently resolve customer issues due to disconnected systems, archaic user interfaces, and multiple applications.” – Forrester
- “77% of strong omnichannel companies store customer data across channels, compared to 48% for weak omnichannel companies.” - Aberdeen Group Inc.
- “56% of consumers have used their mobile device to research products at home with 38% having used their mobile device to check inventory availability while on their way to a store and 34% who have used their mobile device to research products while in a store.” - Forrester
- “61% of customers have not been able to easily switch from one channel to another when interacting with customer service.” - Aspect
- “87% of customers think brands need to put more effort into providing a more consistent experience.” - Kampyle
- “Over 35% of customers expect to be able to contact the same customer service representative on any channel.” - Zendesk
- “Omnichannel shoppers have a 30% higher lifetime value than those who shop using only one channel.” - Google
- “86% of senior-level marketers say that it’s absolutely critical or very important to create a cohesive customer journey.” - Salesforce
- “75% consumers expect a consistent experience wherever they engage (e.g., website, social media, mobile, in person)” - Salesforce
- “64% of marketers cite lack of resources and investment as their top barrier to omnichannel marketing.” - The CMO Club
- “Over half of all customer interactions happen during a multi-event, multi-channel journey.” - McKinsey & Company
The customer experience reports and statistics mentioned above outline just how important it is to focus on delivering an effortless 360 Degree Customer Experience, i.e. taking the entire customer lifecycle into account and leveraging every single customer interaction to provide a seamless, personalized, and relevant experience. It requires the right mix of people, processes and contact center technology to achieve a fully seamless 360 Degee Customer Experience.
Ameyo Fusion CX is our vision of delivering 360 Degree Customer Experience that is Seamless, Engaged and Totally In-The-Moment!