Customer experience is taking first place in importance for customers in their journey, according to a new Socialbakers report. The report compiles the latest research and surveys in the CX sphere.
CX is the main differentiator that brands were expected to be competing by in 2021, said 86% of surveyed CX professionals. Over two thirds of loyalty is driven by experience, more than price and brand perception combined. Positive experience has more influence than advertising campaigns, for 65% of consumers, to the point that 32% would stop doing business with a brand because of one negative experience. Omni-channel availability and consistency and quick delivery on expectations plays a big role in making an experience positive – with 9/10 customers expecting responses in 10 mins or less.
The report also shows that the importance of developing positive mobile experiences, as well as digital self-serve channels are on the rise, having increased use by consumers during the COVID pandemic, and expected to stay. CX must be adapted to customer needs and preferences. Experience-driven businesses see higher growth, advocacy, retention, and loyalty in the form of repeat purchases, than other companies. Organizations implement customer-first culture, bringing in teams and executive positions responsible for CX, with a quarter expected to unite marketing, sales, and CX into a single function by 2023. Investing in the right tools can make all the difference in increasing benefits for companies and customers, with 85% of professionals reporting positive or very positive improvements in CX after using customer journey mapping, and 71% believing these projects led to an increase in customer satisfaction.
With customers ready to pay more for better service, and 74% “somewhat likely” or more to buy based on experiences, brands have no excuse to not invest in CX.