WELCOME TO THE CX ECONOMY

1-minute summary series by Volkie Yelkovan

Do you think price is the main reason for a brand decision? Not anymore! According to Merkle’s research, 66% of consumers care more about #experience than price. For the online shopping experience, consumers are looking for ease of use, fast delivery, and an intuitive customer support. In fact, 52% of online shoppers reported having stopped shopping on a brand website due to poor site experience. 

Another key purchase decision driver is #personalizedexperiences.  Nike, Amazon, Apple are the top brands mentioned by consumers in terms of delivering both personalized and best online shopping experiences.

Other learnings from research are: 1) Unknown quality is the main reason for not trying a different brand 2) #Recommendations from friends and family is how consumers get to trust new brands

Finally, customer experience has direct impact on all parts of the #buyersjourney, from awareness to retention and loyalty ultimately driving revenue and other key metrics. Focusing on delivering the best experiences consistently will help your bottom-line.

Here is the research: https://www.merkleinc.com/thought-leadership/white-papers/experience-impact

#experienceeconomy #loyalty #repeatpurchase #buyer’sjourney #cxeconomy #experienceeconomy