To me, the customer experience is a fascinating concept. It is something that transcends industries, from construction to retail to e-commerce and everything in between. When a company really nails it, the customer is shouting it from the rooftop; when a company drops the ball the customer is doing the same; but, when it’s somewhere in the middle, it is forgotten within seconds. What many companies fail to understand is that every single communication with a customer is a chance to gain, or lose, 5-10 more.
With all of the data available today there are some pretty staggering statistics on why organizations need to be placing a high priority on the experience of their customers. Three of the most surprising are below, along with my personal thoughts on each.
70% of consumers said they would spend more money to work with a company that has exceptional customer service.
I can really relate with this 70% so perhaps I shouldn’t be so surprised by this stat, but I think this can tell us something about our customers behavior. More specifically, about how your company can prioritize resources to be most effective. If consumers are placing this high of a priority on their experience with you, and you have ‘X’ amount of dollars to invest back into process/product improvement, consider investing those dollars into the customer experience because odds are that future customers will pay more for exactly the same product if they are treated properly.
51% of customers said they would never do business with a company again after a negative experience.
This goes to show that customer experience has a lot to do with trust. You’ve heard the old saying about how it can take years to build trust and only a few seconds to lose it? The data shows that it really doesn’t matter how long a customer has been using a particular company or product, once that negative experience happens… they’re out. It is a great reminder that great customer service requires consistency and always being on top of your game.
42% of clients who go through a poor customer experience will take revenge by posting a negative review online or sharing the experience on social media.
Times have changed and word of mouth spreads like wild fire. As businesses, including contractors, deal with more and more clients from younger generations they will have to be better than ever. Younger generations are significantly more likely to switch companies and give voice to their negative experiences. All in all, 91% of individuals will take some type of action after a negative customer experience so you can plan on those negative experiences affecting your bottom line far greater than you can see in the moment.
The intent of my message here is certainly not all ‘gloom & doom’. In fact, according to the data Americans are indicating that customer experiences today are better than they have ever been. This information is simply a reminder to not ever forget how important the experiences of your customers are. I believe Jeff Bezos said it best:
“The number one thing that has made us successful by far is an obsessive-compulsive focus on the customer, as opposed to obsession over the competitor.”