I came across this article on customer experience the other day so I pulled out my favourites, which just happened to 14 in total. Love this stuff cause its so True.
- Research shows that 55% of consumers are willing to pay more for a guaranteed good experience. The word ‘guaranteed’, noting customers are no longer satisfied with just being promised a good experience.
- 86% of consumers are willing to pay more for an upgraded experience. Upselling better experiences can generate incremental revenue and bolster customer loyalty.
- Customer frustration leads to the following: 13% tell 15 or more people if they’re unhappy. Conversely, 72% of consumers will share a positive experience with 6 or more people.
- 67% of consumers site bad experiences as reason for churn.
- Only 1 out of 26 unhappy customers complain. The rest churn. A lesson here is that companies should not view absence of feedback as a sign of satisfaction. The true enemy is indifference.
- 91% of unhappy customers who are non-complainers simply leave.
- It is 6-7X more expensive for companies to attract new customers than to keep existing customers.
- 65% of companies are able to successfully upsell or cross-sell to existing customers.
- Only 12% of companies are able to successfully upsell or cross-sell to new customers.
- 75% of brands do not know what engagement means – but are measuring “it”
- 66% of consumers who switched brands did so because of poor service
- 85% of customer churn due to poor service was preventable.
- 11% of customer churn good be prevented by simple company outreach.
- 67% of customer churn is preventable if the customer issue was resolved at the first engagement.
So what does all this mean? Take customer experience seriously!