In the last century, delivering quality products at reasonable pricing was the most crucial aspect of a business. But the situation has changed in today’s consumerist world. People now want to buy experience, not the product. So the overall customer support system of a company is essential nowadays.
Suppose you are visiting a shopping mall in your free time. Why will you go there? The soothing upbeat music, controlled temperature, luxurious yet comforting atmosphere, sweet greetings from the employees, and top-notch safety and security, right? And in most of the cases, you are likely to find yourself returning home with buying a thing or two, even when you do not exactly need that.
Supermarkets were not considered a place to roam around on holidays even a few years ago, but gradually people are shifting their mindsets. A dazzling surrounding and supporting crew can automatically fetch brand-recognition and trust of the customers today.
Customer support is all about how they are being guided to choose the product or service most suited to them, how they are followed up for their experiences and feedback, and how much care a brand can offer them when they have some issues, queries, or complains. Here are 50 customer support statistics that perfectly states why you should focus on customer experience more and a bit more.
Why Customer service is so important in 2020?
1. Customers are gradually increasing their level of expectations from popular brands. According to Microsoft, 54% of customers are looking for more generous customer service than they looked for just a year ago.
2. And millennials are seemingly quicker to grow their expectations, as 66% of customers of the age group 18-34 are expecting more from the companies.
3. No less than 96% of customers believe customers correlate brand loyalty strongly with its customer experience, as stated in a Microsoft report. Zendesk says it is the number one aspect to consider brand loyalty.
4. 52% of people believe that companies should pay more heed to customer feedback and align their business plan with it. It is natural, as the more a company can provide what the customer needs, the more it will succeed. And that leads to our next point.
5. 99% of customer experience and success leaders believe that the improvement of the customer management system can boost revenues.
6. Temkin group says, for a company worth a billion dollars, the revenue can go up to 775Million dollars by moderately improving customer experience.
7. So naturally, 84% of organizations are working for better customer support to pump up their revenues, a report from Dimension Data.
8. A customer with good experience has usually purchased 3 to 5 times more and recommend the company to 5 more people on average, observed by the Temkin group.
9. Loyal and satisfied old customers are assets of any company. As attracting new customers cost 6 to 7 times more than retaining old customers according to Salesforce, while the number is 5 to 25 times in a report of Invesp.
10. If the retention rate increases by 5%, Harvard Business School claims, the profit will increase as much as 25-95% of a company. This tells that a happy and satisfied customer can invest more money to purchase more and more products, as the company as ensured the quality of product and service quality to the customer repeatedly.
11. The key to this retaining of customers is providing them a personalized experience. Accenture had observed 33% of customers who abandoned a business relationship with a brand in one year were primarily dissatisfied with the lack of personalization. New Voice Media claimed the percentage to be 49% in the case of Americans.
12. On the whole, 67% of customers mention an unfulfilling customer experience for the reason of churning while only one out of 26 people complain, a report from Salesforce.
13. 12% of Americans are frustrated about the slow delivery or assistance of the company, Statista says; 27% of them are frustrated with ineffective complaints from the brand’s side.
14. Customer experience professionals are well aware of this as 63% of them are using the feedbacks to prioritize investments to offer better products, services, and customer experience, reported by Oracle.
15. According to McKinsey, 70% of the customer’s journey all over the world are based on whether the customers are feeling well-treated and valued by the employees.
How much concentration does this field demand?
1. 52% of the customers were observed to buy more products from a particular company after having a positive experience with that brand. This one statistic is especially important for showing how much customers care for being prioritized. Building a formal relationship with each customer is essential to make them feel valued.
2. Gartner predicted that 89% of businesses throughout the world would compete with each other solely based on their customer experience. They had also predicted that by 2019, half of the companies would start investing in this area.
3. The growing number of customer service tells us why this is a major aspect of the business world. In the year 2017, according to a report of Statista, 74% of American customers had contacted customer services, and this ratio is increasing with time consistently.
4. 70% of American customers support the companies who take special care for their experiences, as American Express demands.
5. Even the reviews on social media have a great impact on customers. According to Zendesk, 90% of customers are influenced by online reviews while 6% of customers prefer to read positive reviews rather than negative reviews.
6. Accenture evaluated that 87% of organizations are agreeing that holding onto traditional customer experience is no more enough to maintain the goodwill of the company.
7. American Express has observed customers pay 17% more to the companies with a known reputation in providing a great customer experience.
8. In April 2018, the Benchmark Net Promoter score was 69 in the Education sector, while in January 2019, the scores of Financial service was 49, Healthcare and Manufacturing were 76, for Technology it was 60, according to NPS Benchmarks.
9. American Express observed an average American tell about frustrating customer service to 15 people. Women only tell ten people on average whereas a woman tells nearly 21 people.
10. A bad experience moves people much more than a good experience from a brand. 95% of people share their stories of having an undesirable experience while only 87% share a good experience with others, Zendesk says.
11. American Express demands that one out of three customers switches brand after having only one incident of a bad experience.
12. Kolsky says 13% of unhappy customers share their feeling with more than 15 people and 72% of happy customers share their bits of satisfaction with more than six people.
13. A bad experience is quick to damage the reputation of a company, as 12 positive responses from the customer’s end are required to make up for one bad customer experience, Glance reported.
14. Customers generally switch brands when they are upset about the service-related issue. The switching can be as much as four times than any product-based inconsistencies.
How the brands should implement this?
1. 34% of companies are implementing “Customer Journey Mapping” into their business report to track customer satisfaction, as reported by Salesforce.
2. Gartner had predicted that by 2020, more than 40% of projects on data analytics would consider customer experience to evaluate.
3. And what consists of the customer service? For about 62% of the American customers, it is the service insights and knowledge of their attendees.
4. 68% of customers believe that polite representatives alone can be counted for a great service from the company, according to American Express.
5. Harris Interactive reported that 73% of customers offer prefers friendly employees.
6. Because of these, 67% of customers remind Salesforce to pay more heed to satisfying customer experience as it directly leads them to pay more for that. 74% of companies are already working and strategizing to achieve that.
7. Though nowadays so much concentration is divided into digital media that only 5% of customer service interaction begins face to face.
8. One-third of customers prefer sending messages to brands while seeking assistance, Forrester says.
9. 88% of customers are highly influenced by online reviews while deciding to buy new products, Zendesk demands.
10. 90% of customers expect at least one online portal to complain about product malfunction or poor service, a report from Microsoft.
11. 79% of American internet users are on Facebook, making it the most popular social media platform, reported by Lyfe Marketing. So it is a good choice to maintain a brand page on Facebook to promote the brand or use this platform to receive customer feedback complaints.
12. Comm100 says Millennials look for live chats for every channel to discuss their queries.
What do customers think of the present scenario?
1. Microsoft says 67% of customers believe the customer service is already improving overall to keep up with the race.
2. Accenture reported that 48% of customers expect to have a specialized treatment from a brand for being a loyal and long-term customer.
3. Millennials are more habituated with beginning interaction with a company online. Microsoft says the ratio is about 63% whereas 50% of millennials complain about a bad service experience using social media.
4. 57% of customers are more comfortable using digital media rather than voice-based support like customer care calls, Ameyo said.
5. While the problem is about some complicated issues like payment issues, 40% of customers tend to prefer to contact a real person over the phone rather than a chatbot or other methods. 23% of them seek to consult a service-professional face to face, a report by American Express portrays.
6. Microsoft has observed 63% of global customers to improve their perception of a brand when they receive notifications regarding customer service from the brands.
7. The most common channel used to discuss service issues and other problems, as reported by Forrester, is email 54% of customers have been to use it.
8. Visioncritical says 84% of customer-centric businesses are focusing on the improved and fast mobile experience for their customers and making their services mobile-friendly as the number of heavy mobile users are increasing with each passing year.
9. American Express demands that 80% of current customers are satisfied by the current quality of customer service they are offered.
Now, there is a bonus stat for you.
What is the primary aspect brands must concentrate on providing quality service? Forrester mentioned, more than 75% of customers believe that valuing the time of the customers are most appreciated by them from brand representatives.
In the end, we must admit, “Value” is the key to ace customer satisfaction.
The selling is more brand-focused as of today, rather than being product-focused. The experience and the feel-good vibe you can transmit to your customers can make your business boom. Know your customers, make a formal relationship with them by providing a platform to them to share their experiences, and inform them about the latest update of your brands and how they can benefit from it from time to time. These small, automated yet thoughtful gestures can be valuable to the goodwill of your brand.
During the pandemic situations, a simple message like greetings and wishing for good health and safety can boost your brand recognition tremendously. Give your customers the satisfaction and regard they want, and of course, deserve. In turn, they will be the first ones to go for word-of-mouth marketing to share their satisfying experiences with you with their acquaintances.
The same techniques go for making relevant advertisements, do not focus on the product you offer, but the experience and value they can achieve by using your products.