Companies today need to go from being “customer focused” to “customer committed”. Customers want to know businesses are authentic, committed and consistent with them at every touch point they have with you. Here are 25 important statistics every company needs to know.
Customer Service should be the main focus to ensure customer retention and profitability. Tweet this.
- By 2020 customer service will overtake price and product as the key differentiator. Source (Walker)
- Engaging with customers means 40% more revenue per person – Bain & Co
- 89% of marketing leaders expect to compete primarily on the basis of customer experience by 2016, compared to just 36% four years ago. – Gartner
- 50% of product investment projects will be redirected to customer experience innovations by 2017. – Gartner
Poor customer experiences often lead to lost customers, while happier shoppers will keep coming back.
5. 59% of the customers said a bad experience caused them to stop buying from the company. – Forbes
6. Increasing customer retention rates by 5 percent could increase profits from 25 percent to 95 percent. – Harvard Business Review
7. 86%of customers will pay more for a better customer experience – Oracle
8. 52% of customers said a good customer service interaction influenced them to purchase more from the company and 58% of those customers recommended the good companies to others ” – Forbes
9. 75% of customers expect a consistent experience wherever they engage with your brand. Even though it may take a lot more work for a company to provide a consistent experience through all engagement, this statistic is proof that is what companies need to focus on. – Salesforce
10. 89% of people are likely to recommend a brand after a positive brand experience on mobile” – Think with Google
11. 95% of consumers talk about poor customer service experiences with other people” – American Express
12. Happy customers who get their issues resolved tell about 4 to 6 people about their experience” – White House Office of Consumer Affairs
Customers want convenience which creates a memorable customer experience.
13. 52% of users said that a bad mobile experience made them less likely to engage with the company – Impact
14. 61% of Internet users start shopping on one device but continue or finish on a different one ” – Think with Google
Customers expect their interactions to be personal but automated for faster resultsB
15. By 2020, 30 percent of web browsing sessions will be done without a screen – Gartner
16. More than 85% of mobile marketers report success with personalization — higher engagement, revenue, conversions” – Forbes
17. By 2020, customers will manage 87% of their customer relationships without interacting with humans” – Gartner
Customers want to be able to trust companies authenticity in exchange for their loyalty.
18. 81% of users don’t trust retailers with their data. – Opinion Lab Survey
19. A 2014 study conducted by the PR firm Cohn & Wolfe revealed that the number one quality people demand of big brands is honesty about their products and services.
20. The Authentic Brand Index, a study put together by brand consultants Principals and the consultancy Brand Navigator, found a correlation between a company’s authenticity and the likelihood that customers become advocates for that brand.
21. 91% percent of customers want brands they follow to be authentic in their social media posts, according to an info graphic from the agency Bonfire Marketing.
Businesses need to utilize the data they have to make changes that the customer wants. Customers are more informed than ever before.
22. 80% of data is dark and untouched meaning it’s never actually used to make improvements or changes deemed necessary by the customer” – Forbes
23. 80% of businesses believe they provide excellent customer service, but only 8% of customers agree” – Forbes
24. 81% of shoppers conduct online research before buying, and trust ratings and reviews over 3x more than traditional marketing” – BazaarVoice
25. 83% of customers (think that reviews) are “important” or “extremely important” and 76 percent “always” or “often” use it when they shop online” – RIS News
Being a customer committed company is not always easy but it is necessary for success. Customers expect consistency, authenticity and commitment to their needs. What are some companies who are excellent examples of being customer committed? How can you help your company or the one you work for be more customer committed? I’d love to hear your comments.