The Numbers Don’t Lie: A Business Case for Customer Experience

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The Numbers Don't Lie
A BUSINESS CASE FOR CUSTOMER EXPERIENCE
The Good and the Bad
By 2020, Customer Experience will overtake price and product as the key brand differentiator.
- Customers 2020 Report
* 24% continue to seek out vendors two or more years after a good experience... and 39% continue to avoid vendors two ore more years after a bad experience.
- Dimension Research
* Only 7% of consumers say the customer service experiences they have with companies typically exceed their expectations.
- American Express Global Customer Service Barometer, 2014
* 3 out of 5 customers are willing to try a new brand or company for a better service experience.
- White House Office of Consumer Affairs
Indifference and Perceived Value
80% of an organization's customer base falls into a Zone of Indifference.
- Wilson Learning Research
* 85% of customers see no value in conversations with salespeople.
- Forrester Research
Credibility plus Empathy equals TRUST
70% of the buying experience is based on how customers "feel they are being treated."
- McKinsey
* 94% of consumers say organizations that provide an experience greater than their expectations positively impact their level of trust.
- Cone Communications, Global Service Study, 2014
Revenue Impact
86% of buyers will pay more for a better customer experience.
- Customer Experience Index
* 66% of respondents cited Customer Experience as the biggest driver for encouraging greater spending.
- Right Now
* A customer if 4 times more likely to buy from a competitor if the problem is service related versus price or product related.
- Bain and Company
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