Customer experience or CX is pivotal in building a solid brand reputation. In the eCommerce industry, the experience you provide your clients can be what makes them go to you or just click on the next website. Not convinced yet? Then we bring you the proof. Go through these customer experience statistics and let us know what you think.
#1.
Global Spending on Customer Experiences Will Reach $641 Billion in 2022
Back in 2019, it was predicted in the Worldwide Semiannual Customer Experience Spending Guide by the International Data Corporation (IDC) that spending on customer experiences would only increase. 2019 saw CX technology costs totaling about $508 billion. 2022 should see $641 billion.
#2.
Consumers Will Pay More for Great Customer Experiences
PWC found that consumers will pay up to 16% more if they’re treated to a great customer experience. And those who had amazing experiences with a company are likely to spend 140% more than those who may have had bad experiences.
#3.
Consumers Are Unlikely to Be Back after a Single Bad Experience
Even just one bad experience can send your customers to your competitors. 32% of people will leave a brand they previously loved and 88% of online buyers won’t go back to the company’s website after a single bad interaction.
#4.
A Positive Experience Will Do More than Advertising
Individuals are more aware of all the advertising around them than ever before. A positive customer experience therefore will do more than advertising – 65% of consumers in the United States find that to be true.
#5.
Better Customer Experiences = Lower Costs
If you want to spend less on customer care, pay attention to customer experiences – it can lead to a decrease in related costs by up to 33%.
#6.
The Customer Experience Matters Just as Much as Your Products
80% of consumers believe that the CX is just as important as your products, meaning you can’t skate by on great offerings alone.
#7.
Personalization Can Lead to More Sales
Personalized experiences can deliver more sales and higher profits to your business – 80% are more likely to buy. Personalization reduces returns and increases customer loyalty, so if you want to know how to provide that experience using a 3D configuration platform, reach out to us!
#8.
People Are Talking About their Experiences with Brands
Good or bad, your customers are talking about their experiences with your brand and the CX. A good interaction leads to an average of 9 people being told about the experience. A bad interaction though can lead to an average of 16 people being informed.
#9.
The Expectations from CX Has Only Gotten Higher
67% of customers expect more from companies when it comes to the CX than they have in previous years.
#10.
And Many Are Not Living Up to Expectations
Over half of customers are finding that companies are not meeting their CX expectations, and over 80% are disappointed by the brands they interact with.
#11.
CX May be Your Differentiator
If you offer the same products or services as another company, you may only be competing on the customer experience and service levels. 81% of companies found this to be the case. And 74% of customers said they will base their decisions on which company to go with based on these experiences.
#12.
Money is Lost with Poor Customer Service
Companies lose a staggering $1.6 trillion each year in the United States due to poor customer service or experiences.
#13.
Digital Transformation is a Must
Companies are having to undergo digital transformations to meet the needs and expectations of customers. 67% businesses agree that their business will not be competitive if they don’t go through a digital transformation. How have you been standing out? Meet with us, we can help you with that.
#14.
The Experience Matters on Mobile
Mobile optimization is an option for companies if they want to stay competitive. The online experience on mobile devices also matters. Nearly 55% of website traffic happens on mobile, whether phones or tablets.
#15.
As Does Mobile Customer Service
Companies need to have strategies to help their customers use mobile devices. 90% of customers said businesses didn’t meet their expectations when it comes to customer service on a mobile device.
#16.
Companies Are Missing the Mark on Communication
Only 14% of consumers are satisfied with communications they’ve had with businesses! There’s a lot of potential for online businesses to stand out.
#17.
Not All Customers Want to Communicate the Same Way
Customers have different preferences when it comes to communicating with brands, and many prefer text – about 89%. Yet under 50% of businesses offer texting as an option to their audience. And 66% of shoppers tend to use three communication channels with brands. A multi-channel approach seems to help the customer experience.
#18.
Many Still Want the Human Element
Nearly 60% of consumers found that the human element is missing from the customer experience. It’s also been found that talking to a person can lead to more confidence when purchasing (87% of people agreed).
#19.
Chatbots Can Help Though
In some cases, though, chatbots can be extremely helpful and some customers prefer them. Around 25% of businesses do take advantage of virtual assistants and chatbots. And 57% found that they do increase ROI.
#20.
Employees are Lacking the Necessary Skills for Standout CX
Even if you have chatbots and a great product, if your employees don’t have the necessary skills for a standout customer experience, you’re going to lose customers. It was found that 70% of employees don’t have the skills they need.
The customer experience is constantly evolving, and it’s essential that companies keep up with their clients’ expectations. How will these statistics affect your CX plan for 2023? It’s the perfect time to start thinking about that…
If you believe that a 3D configurator will improve the way customers experience your website, then get in touch. We’d love to take you to new heights!