Jim S Miller

Thoughts on the Client Experience and Banking

Eighty-six Percent of Customers Will Pay More for a Better Customer Experience

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Findings from Right Now’s 2011 Customer Experience Impact Report

Nearly nine out of ten customers (86 percent) claim they will pay more for a better customer experience. This and other findings come from Right Now’s 2011 Customer Experience Impact Report: Getting to the Heart of the Consumer and Brand. The study shows there is a clear payoff to improving the customer experience and according to customers it begins with friendly employees.

According to the survey, consumers want:

After a poor customer experience, 26 percent posted a negative comment on a social networking site like Facebook or Twitter and when they did:

  • 79 percent of those who shared their complaint online had their complaints ignored.
  • Of the 21 percent who did get responses, more than half had a positive reaction to the same company about which they were previously complaining.

When asked how companies can better engage with consumers to spend more, respondents said:

  • Improve the overall customer experience (54 percent).
  • Make it easy to ask questions and access information before making a purchase (52 percent).
  • Improve search functionality and overall web site usability (36 percent).

Other findings include:

  • 58 percent of consumers noted that their expectations were not met because a company was unavailable; they didn’t pick up the phone or answer email.
  • 89 percent of consumers began doing business with a competitor following a poor customer service experience.
  • 51 percent said companies are impersonal; sometimes they can’t even get their name right.
  • 56 percent said companies are slow to resolve issues.
  • 57 percent said companies are clueless; it sometimes feels like the consumer knows more about the company than the customer service agent.

Related Prime Performance articles:

Consistently Delivering Specific Behaviors During Teller Interactions Improves Overall Satisfaction

Customer Experience with Bank Teller Transactions: Fast and Friendly Drives Customer Satisfaction

Customer Experience with Call Center Representatives: First Contact Resolution is Key


Written by Jim S Miller

February 21, 2012 at 11:14 am

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