CX – your best investment
Industry experts agree – investing in customer experience simply makes sense. But also, it pays off really well. Check out some of the data we hand picked for you from various industry reports and analysis.
Customer Experience is as important, as the quality of products and services
84% of participants of an international study conducted by Salesforce, agree with that statement. Furthermore, 73% of customers, who had at least one positive customer experience while shopping online, will expect the same level of service everywhere they go. That is the future battleground for all companies and the way to get real competitive advantage.
Higher revenue growth by up to 54% thanks to customer experience
Another research, this time by PwC, brings another interesting finding – the payoffs for valued, great experiences are tangible: up to a 16% price premium on products and services, plus increased loyalty.
Meanwhile, in its study “Tomorrow’s experience, today” KPMG International surveyed almost 55,000 consumers across 14 countries to ask them which brands were delivering the best customers experiences and why. The study showed that the revenue growth of the top 50 brands in the measured countries is 54% greater than the bottom 50, at an aggregated level.
Greater willingness to give permission to collect data
In the previously mentioned study by PwC, 63% of respondents said they’d be more open to sharing their data for a service they say they truly valued.
To compare this USA data with our local Polish market – the main reason Poles give marketing consent is a chance for extra discount or special offer (55% and 45% of respondents’ answers). But in the close second and third place they indicate all aspects related to customer experience – the convenience of shopping (37% of indications) and levels of personalization of the offer (36%).
(Source: KMPG, Zarządzanie doświadczeniami klienta (CX) w erze RODO – jak Polacy dbają o ochronę informacji o sobie?, Kwiecień 2018)
So why is there still so much room for improvement when it comes to CX?
The answer is simple. Knowledge. There is a huge lack of understanding and trust in AI as a vital part of a seamless customer journey and an amazing shopping experience.
PwC study shows that only 47% of executives say they understand clearly how robotics and AI will improve customer experience. PwC experts have no doubts that this has to change— immediately.
“Smooth, consistent transitions from machine to human is crucial. Consumers increasingly show loyalty to the retailers, brands and devices that consistently provide exceptional value and variety with minimum friction or stress.” PwC
Another study that point to the lack of understanding is the Salesforce’s one, showing that only 29% of marketers use AI in their day to day activities. Of the 29% of marketers currently using AI, 88% report at least moderate ROI, with over half saying they’ve seen major ROI.
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Links to the reports:
https://www.salesforce.com/form/marketingcloud/trends-and-tactics-driving-marketing-roi/