Top customer experience facts and figures you should know to help your business thrive

customer experience

Customer experience has quickly risen to the top of the priority list for organizations.

When it comes to choosing between brands, customers value experiences above everything else.

Customers’ loyalty is no longer based on pricing or product alone, instead customers remain loyal to brands because of the experiences they have had with them.

The consumers that have a positive experience with your brand are more likely to spend more money on your products.

We live in a customer-centric era, customers want things done their way, and businesses are expected to meet their needs.

A great customer experience can make your business stand out.

To get you started, here are some customer experience facts and figures:

Companies with annual revenues of $1 billion can expect to earn an additional $700 million in three years if they invest in customer experience.

86% of consumers are willing to spend a higher price for a positive customer experience.

A seamless experience across all devices and channels is a top priority for 42% of consumers.

48% of customers have abandoned a website without making a purchase because it was inadequately curated for them.

Customers are willing to spend up to 13% more simply because they have had a great customer experience.

After just one unfavorable experience, 32% of customers stop doing business with a brand they love.

After having a more personalized experience, 49% of consumers made impulse purchases.

57% Customers are less likely to recommend a company with a website that is badly developed.

74 % of buyers are at least somewhat likely to make a purchase based solely on their personal experiences.

Customers will pay a 16% premium for excellent service.

With 90% of businesses expecting to implement AI within the next three years, that percentage is predicted to rise to 40% by 2023.

Since the commencement of the COVID-19 epidemic, 24% of respondents indicated their company has spent more in artificial intelligence.

According to 63% of customers, the greatest brands consistently surpass their expectations throughout the customer journey.

 

 

Read more on Crenov8:

Customer Experience is fundamental to the long term growth of any Business

Transforming your Business to meet the needs of your Customers

Using Technology, Data, and Artificial Intelligence to improve the Customer Experience

 

 


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