Jim S Miller

Thoughts on the Client Experience and Banking

10 Key Findings in the Customer Experience Report: North America 2010

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Right Now’s Customer Experience Report North America 2010 is loaded with interesting findings about the customer experience.  Below are 10 of the most important findings, but the key takeaway is that it pays to put your customer first.

 10 Key Findings:

  1. 40% began purchasing from a competitive brand simply because of their reputation for great customer service.Customer service is the most influential thing a company can do to increase customer advocacy. 
  2. 85% of consumers said they would be willing to pay more over the standard price in order to ensure a superior customer service.
  3. 79% of consumers that had a negative experience with a company told others about it.
  4. 76% of consumers said word of mouth most influenced their purchasing decisions followed by customer reviews and online feedback at 49%.
  5. Customer service is the most influential thing a company can do to increase customer advocacy.  55% (up from 53% in 2009) of consumers recommend a company because of its customer service, compared to products at 49% and price at 42%.
  6. Only 22% of consumers who left a comment on a social networking site got a response from the company.
  7. 92% of consumers said they would be willing to go back to a company after a negative experience if they:
    • Received a follow up apology/correction from a supervisor/head office (63%) (see my posting on The Power of a Sincere Apology)
    • Were offered a discount (52%)
    • Or were offered proof of enhanced customer service (49%)
  8. Companies spend billions on advertising and marketing, yet word of mouth remains the most powerful vehicle for influencing one’s purchasing decisions.
  9. 66% of consumers said improved customer service would encourage increased spending.
  10. Of those who decided to stop doing business with an organization:
    • 73% was a reaction to rude staff
    • 51% reacted to unknowledgeable staff
    • 55% were because of issues that weren’t resolved in a timely manner
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Written by Jim S Miller

October 18, 2010 at 9:41 pm

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