Customer experience is a vital aspect of any business, and it has become increasingly important in today’s digital landscape. In simple terms, customer experience or CX as some refer to it, is the overall perception of a customer about a company or brand, based on their interactions with the business.
From the initial point of contact to the final sale, every step of the customer journey plays a crucial role in shaping their perception of a business. A positive experience can result in repeat business, referrals, and customer loyalty, while a negative experience can drive customers away and damage a company’s reputation.
The growth in digital has brought about significant changes in the way customers interact with businesses. Social media, online reviews, and easy access to information have given customers more power and choice than ever before. With a simple Google search, customers can find dozens of options for any product or service, making it easy for them to switch to a competitor if they are not satisfied with their experience.
For businesses, this means that providing excellent customer experience is no longer optional, but a necessity for survival. Companies that prioritise customer experience are more likely to attract and retain customers, drive growth, and stay ahead of the competition, and here are 28 statistics to prove it.
28 Stats That Show the Importance of Customer Experience
Brands Perception of Customer Experience
- 46% of businesses surveyed by SuperOffice stated that customer experience is their top priority for the next five years.
- Adobe have found that 89% of senior execs believe customers are constantly changing their expectations to match the best experiences they’ve had.
- 85% of brands believe they offer a personalised experience, however, only 60% of consumers agree with that.
- 90% of B2B leaders believe that customer experience is what drives success.
- Trustpilot found 86% of worldwide companies have an average customer satisfaction.
Customers Perception of Customer Experience
- 64% of buyers consider customer experience more important than the price.
- 73% of consumers say customer experience is the number one thing when deciding to make a purchase from a company.
- Salesforce surveyed over 6,000 customers and found 66% of them expect brands to understand their needs.
- 66% of consumers want brands to understand and meet their needs.
The Effects of Great Customer Experience
- 80% of consumers say companies earn their trust and money when they offer a personalised experience.
- After having a positive customer experience, 72% of customers will share their experience with six or more people.
- Loyal customers who have a good brand experience are five times more likely to purchase again, and four times more likely to refer the company.
- 70% of consumers will pay more if they have a good customer experience.
- Brands that focus on customer experience report profits 60% higher than those that fail to focus on it.
- Providing high-quality customer service can save companies up to 33% of customer experience costs.
- 75% of customers will stay loyal to a brand for providing outstanding support.
- Improving customer experience can increase company revenue by 10-15%.
The Effects of Bad Customer Experience
- 61% of customers state they stop doing business with a brand because of poor customer service.
- 32% of customers have broken up with a favourite brand after just one poor customer experience.
- 46% of consumers have stated they would stop engaging with a brand if their employees aren’t knowledgeable.
- Poor customer service is costing UK businesses £11.4 billion a month. With lost productivity being a huge issue as employees have to spend on average one day a week dealing with problems.
- 74% of customers say if a brand makes up for a bad experience, they are willing to forgive and forget.
Customer Experience and Response Times
- Forrester found that customers are 2.4 times more likely to stay loyal to a brand if their problems are solved quickly.
- This is paired with that Sprout Social found that 57% of consumers expect for brands to respond on social media within 12 hours.
- In Zendesk’s 2023 CX Trends report, they stated that 72% of customers want immediate service.
Customer Experience and AI
- Whilst the use of AI for customer experience increases, 75% of customers worldwide say they want more human interaction in the future.
- 71% of customers say they would be happy to engage with chatbots if it improved their customer experience.
- The chatbot market is said to reach $1.25 billion in 2025, which will be a 555% increase in its value from 2016.
So there you have some great data and insights as to why customer experience is a critical aspect of any business that cannot be ignored. It is no longer enough to offer a quality product or service; businesses must also focus on creating a positive experience for their customers from start to finish. Whether you are a small business owner or a large corporation, understanding and improving customer experience can make all the difference in achieving your business goals. If those stats have made you think about improving your customer service then here are 5 ways you can do so.
Here at Embryo we strongly believe in exceptional customer service and have a fantastic client services team who help us stick to those standards. If you’d like to find out more about how our team can support and grow your business then get in touch today.