Customer experience equally important as price for today’s modern consumer
New research from imimobile points to customer experience as a key business imperative, with 75% of respondents rating it crucial to purchasing decisions
Customer experience (CX) has become as pivotal as price when it comes to purchasing decisions, demonstrating its importance to business success and a conversation that must break into the boardroom, according to research published today by global cloud communications software and solutions provider, imimobile, part of Webex. The findings indicated a growing challenge for brands to balance and deliver three customer experience elements across all customer touchpoints – resolution, customer rapport and relevance, which imimobile has designated the “CX Trilemma” and points to CX as a major business imperative.
The inaugural “2022 CX Trilemma Report”, surveyed 2,000-plus U.S. and U.K consumers about qualities for good customer experience and presents findings that uncover shifting consumer preferences. Specifically, the report reveals preferences for how and when respondents want to engage and communicate with their favorite brands and businesses.
Some key highlights:
• Good customer service is a key driver of repeat business, according to 75% of respondents
• 61% are willing to pay more for a better experience and 55% would change brands to receive better customer service
• Different generations have varying levels of comfort for different service needs, such as 19% of both Gen Z and young millennials would use social media to ask questions about a product/service compared to 4% of Baby Boomers, and 71% of Gen Z respondents would use a digital channel to manage orders, reservations and appointments compared to only 32% of Baby Boomers
• 47% of respondents say they believe good customer service is more important now than it was 12 months ago, pointing to integrated paths of communication in the physical and digital worlds being critical
“Customers expect brands to meet them through their preferred channel, at their desired time with the information they require, and businesses who aren’t scaling to deliver against this increasing customer expectation will fade away,” said Jay Patel, VP & GM, Webex CPaaS. “The good news is that world-class CX can now be delivered by cloud-based technology. There are easy-to-use, multi-channel cloud communication platforms that enable businesses to orchestrate and automate their customer interactions on one, central platform, enabling the ability to resolve issues quickly, build rapport with customers and drive relevant experiences. Improving customer experience is the key business priority for 2022 that can directly impact the bottom line.”
The CX Trilemma Report reveals that organizations truly committed to solving the CX challenge must support multiple channels and navigate new technology and innovation to not only meet but exceed customer expectations, especially for the Gen Z and millennials who are increasingly using more digital channels. For organizations serving multiple demographics or offering a diverse set of services, one channel simply can’t give every customer a satisfying journey.
Resolving customer problems, queries, and complaints, while being proactive with updates on products and services remain a cornerstone of a great customer experience. Respondents identified simplicity (79%), consistency (78%), speed (76%) and convenience (73%) as fundamental to resolution. Furthermore, 75% of respondents said quick resolutions influence repeat transactions.
Those surveyed called out brands for displaying a lack of empathy, transparency, and honesty as well as an inability to understand frustrations as reasons for a poor customer experience and dissuades them from using a brand or business altogether. Of this, 64% cited repeating information to different teams and having to proactively chase agents as leading factors for poor customer experience, which can also lead to negative word-of-mouth, reviews, and a tarnished reputation.
In a post-pandemic era, relevance is becoming an increasingly important part of the customer experience mix – communicating with customers on the channels they want to use, meeting them where they are and at the most convenient time (67%) while also delivering relevant, personalized communications are key for successful customer engagement (60%).
What’s more, the findings unveil that every generation, industry, and region have varying preferences in regard to channels, when to be contacted and personalization of communications.
“Finding the right communications mix for your customers requires a deep, nuanced understanding of them and your processes, and they are very different to those of just two years ago. To reach them in the right way, businesses need communications that work best for everyone, and this requires technical capabilities and expertise to orchestrate end-to-end customer journeys across multiple channels.” stated Patel.
While you can support multiple communications channels manually, technologies such as Enterprise CPaaS (Communications Platform as a Service) make it easier to manage multiple channels, comply with regulations, and deliver a consistent, connected customer experience.
To learn more about the findings, download the full report here.