Have you ever thought what makes a customer switch brands quite often when you and your competitors offer the same quality of products or services? After all, what is it that differentiates one brand from another. Well in most of the cases there is only one sphere in which a company can unceasingly set itself apart and impart true value to the ever-demanding and increasingly knowledgeable customers, and that is in their customer experience. In fact, based on a recent research conducted by Capgemini, 8 in 10 Consumers are Willing to Pay More for a Better Customer Experience.
This implies that if a business strives to be the first choice for its customers and improve retention, it will have to carry through customer experience dead-on.
The infographic below highlights some of the interesting customer experience statistics which can change your perspective of customer experience and help you strategize:
The bottom line: “The customers may forget what you said, but they will never forget how you made them feel”. Go ahead and consider these statistical figures while outlining your CX strategies.
Digital transformation is certainly taking the world by storm these days. With a myriad of activities and aspects associated with digital transformation, customer experience acts as a key component. In fact, most of the digital initiatives surface from pain points, business/innovation needs and growth imperatives on the customer side of the business.
The insurance industry is facing enormous pressure as digital transformation is fundamentally changing how insurers’ operate. Customers are now much exposed to the social media than ever before and have plethora of comparison sites to compare policies and premiums before making any purchase.
In today’s hyper-competitive economy, it has become an imperative for companies to focus on delivering data-driven customer experiences. According to Forbes the benefits are wide-ranging, including revenue generation and cost reduction, as well as enabling process efficiencies and quality improvements. Data-driven CX leads to a more targeted and personalized approach for a specific set of customers and enables organizations to keep the interactions consistent across different touchpoints, provided all functions and LOBs are willing to align, first conceptually