Customer experience is, in fact, a relationship between customers and companies. At every point, a customer is going through some experience and so do the company. Customer experience comes under the domain of customer relationship management. The reason behind giving it so much importance is quite justified. The satisfied customers are more likely to repurchase and eventually become loyal customers.
Business is all about customers. For that reason, companies are putting their greater effort into this. Happier the customers more will be their chance to stay with the brand. Similarly, an unhappier customer would leave and will also badmouth about your business.
However, if you want to make the customer experience your KEY FACTOR then you must learn certain facts about it.
1. Exposition to Business
90% of the customer experience policymakers believe in words that customer’s good experience is expository to the business. Forrester Research
2. The relationship between Business Outcomes & Customers Experience
73% of the companies that are having a most customer experience impact comprehend the link between the business results and customer experience. Temkin Group
3. Brand Switching
68% of the customers have given the verdict that they switched the brands because of bad customer experience. Accenture
4. Loss in Revenue
Every year US companies bear a total loss of $41 billion due to the bad customer experience. New Voice Media
5. Word of Mouth
It is estimated that out of 100%, 95% of the dissatisfied customers tell their peers about their shoddy experience. Zendesk
6. Need for Customer Support & Reviews
While making an online purchase, 83% of the buyers require customer support and reviews. eConsultancy
7. Sharing of Experience Online
59% of the age ranges from 25-34 years old shares their bad customer experience online. New Voice Media
8. Value given by Businesses to Customers
76% of the customers believe that the type of customer experience they have is proportional to the value companies give to them. Aspect
9. Consumers expect instant Replies
While purchasing online, consumers expect replies within 5 minutes. LivePerson
10. Key Differential factor
By 2020, customer experience will overtake price and product as the key brand differentiator for B2B. Walker
Here, you can learn more about the 5 cliches about customer satisfaction you should avoid.