One of the biggest challenges of creating a great CX strategy often isn’t getting customers on board--it’s helping people inside your company catch the vision. Customer experience is a powerful differentiator and not only drives customer satisfaction and loyalty but also increases sales and creates a competitive advantage. A CX focus is no longer nice to have--it’s a necessity for every modern company, regardless of size or industry. Championing CX often means proving its value and fighting to get people on board.?
Two years ago, I compiled 50 statistics that prove the value of CX--it feels like a lifetime ago. Companies and customers have faced unimaginable changes and challenges over the past two years and made customer experience more crucial than ever before.?
To celebrate CX Day and the importance of CX in all companies, here are 50 fresh statistics that prove the value of CX:
- Companies that prioritize employee experience to deliver a premium customer experience achieve 1.8 times faster revenue growth. (Salesforce)
- 89% of companies that lead with customer experience perform financially better than their competitors. (Qualtrics)
- High-growth companies are nearly 2.5 times more likely to focus on solving customer problems than those that are not. (Forrester)
- Great experiences can lead to a 16% price premium on products and services. (PwC)
- A one-point customer satisfaction improvement on a 10-point scale corresponds to at least a 3% increase in revenue. (McKinsey)?
- B2B and B2C companies that implement innovative CX strategies are 3 times more likely to substantially outperform their business goals. (Adobe)
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- 75% of customers will spend more to buy from a company that offers a good customer experience. (Zendesk)
- 90% of global CX professionals agree that CX is a primary focus of their company. (Oracle)
- Customers are 2.7 times more likely to spend more when companies communicate clearly. (Forrester)?
- Fully engaged customers give 23% more share of wallet than the average customer. (Gallup)
- 63% of customers will pay more for a great experience. (Salesforce)?
- Personalization at scale can reduce marketing and sales costs by up to 20%. (McKinsey)
- 52% of consumers would be willing to pay more to receive great customer service. (Hyken)?
- One in four customers is willing to pay up to 10% more to receive excellent customer service. (Hyken)
- 46% of companies say customer experience is their top priority for the next five years. (Super Office)?
- 90% of B2B buyers will turn to a competitor if a supplier’s digital channel can’t keep up with their needs. (Avionos)?
- 87% of B2B buyers will pay more for a supplier with an excellent digital commerce portal. (Avionos)
- Delivering a high-quality B2B customer experience can reduce customer churn by up to 15%. (McKinsey)
- 84% of B2B buyers are more likely to buy from sales reps and companies that understand their goals. (Salesforce)
- A positive customer experience yields 20% higher customer satisfaction rates. (McKinsey)?
- 91% of consumers are more likely to make a repeat purchase after a positive experience.?(Salesforce)
- A positive customer experience leads to a 10-15% boost in sales conversion rates. (McKinsey)?
- 71% of consumers have made a purchase decision based on experience quality. (Salesforce)
- A positive customer experience increases employee engagement by up to 30%. (McKinsey)
- 78% of customers say they are loyal to brands that understand them and what they want to achieve. (Acquia)
- Customers who have a high-quality experience are 2.7 times more likely to keep doing business with a brand than those with a low-quality experience. (Deloitte)
- 59% of loyal customers are more likely to choose that brand over competitors. (McKinsey)?
- 62% of loyal customers are more likely to spend more on the brand. (McKinsey)?
- Customers are 2.4 times more likely to stay when companies solve customer problems more quickly. (Forrester)
- 90% of customers say they are very likely to trust companies that have very good customer experiences, compared to 15% of customers that trust companies with very poor CX. (Qualtrics)?
- 86% of loyal customers will recommend a company to friends and family. (KPMG)
- 75% of customers are very likely to forgive a company for a mistake if they think it delivers very good CX. (Qualtrics)?
- 46% of loyal customers will remain loyal to the brand even after a bad experience. (KPMG)
- 64% of customers will try new products or services immediately from companies they think have very good CX. (Qualtrics)?
- 66% of loyal customers are likely to write a positive online review after a good experience. (KPMG)?
- 75% of U.S consumers are more likely to be loyal to a brand that delivers a personalized customer experience. (Hyken)?
- 80% of customers say the experience provided by a company is as important as the products and services. (Salesforce)
- 70% of customers say convenience is more important than branding. (Salesforce)?
- 66% of customers expect companies to understand their unique needs and expectations. (Salesforce)
- 52% of customers expect offers to always be personalized, up from 49% in 2019. (Salesforce)
- Customers are 10 times more likely to recommend a brand when employees answer all their customer questions. (Forrester)
- 95% of customers who rate a company’s CX as very good are likely to recommend the company, compared to 15% of customers who rate a company’s CX as very poor. (Qualtrics)
- 94% of customers who rate a company’s CX as very good are very likely to repurchase from that company. (Qualtrics)?
- Modest improvements in CX performance lead to a 34% increase in future purchase intentions. (Qualtrics)?
- 74% of consumers are at least somewhat likely to buy based on experience alone. (Treasure Date)
- 88% of consumers will switch to a competitor after three or fewer bad experiences. (Customer Contact Week Digital)?
- After the pandemic, customer experience is now more important to 58% of consumers. (Customer Contact Week Digital)
- 84% of customers say being treated like a person instead of a number is very important to winning their business. (Salesforce)
- 93% of customers say trusting a company makes them more likely to recommend that company. (Salesforce)
- Customers who rate a company’s customer service as good are 38% more likely to recommend the brand. (Qualtrics)
*Article first published on forbes.com
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3 年Why are we treating customer experience as if it is this new concept that has suddenly become the vogue? Customer experience is as old as business itself.
If you’re not offering an extraordinary CX or product, then you’re a commodity and competing on price, which is very rarely a sustainable business model.
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3 年A veritable treasure trove of #CX relevant stats. Thanks for compiling Blake Morgan #cxday2021 #customerexperience