A terrific customer experience (CX) is vital across industries and organizations both large and small – from retail to travel and telecommunications. Because, today, it’s pretty competitive out there, customer preferences and loyalties are shifting, and choices abound. Yet just how great of an impact can it have on companies and their customers? As solid proof that CX is bigger and bolder than ever, we compiled a list of 22 eye-opening customer experience statistics.

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22 Best Customer Experience Statistics

CX Statistics for Cost, Performance, and Business Impact

• $402B/year is left on the table by companies that fail to provide “simple” experiences to their consumers [World’s Simplest Brands]
• $35.3B is lost every year by US businesses in customer churn caused by avoidable CX issues [CallMiner]
• Companies that earn $1 billion a year will see an average gain of $700 million within three years of investing in customer experience [Qualtrics]
• 90% of CEOs believe that the customer has the greatest impact on their business [PwC]
• Companies with engaged employees outperform the competition by 147% [Gallup]

Why this is important today:
Investing in a strong strategy is crucial for businesses. It leads to increased customer retention, loyalty, and competitive advantage. By providing exceptional CX, businesses can boost customer satisfaction, exceed expectations, and foster loyalty, resulting in repeat purchases and positive word-of-mouth. CX investment also enhances customer lifetime value by encouraging additional spending and long-term relationships. Moreover, it improves operational efficiency and enables businesses to adapt to changing customer expectations. Overall, prioritizing CX pays off in the long run by driving growth and success.

Customer Experience Statistics for Loyalty and Brand Experience

• Loyal customers are 5 times more likely to purchase again and 4 times more likely to refer a friend to the company [Experience Matters]
• CX drives over two-thirds of customer loyalty, which represents more than brand and price combined [CMS Wire]
• 73% of consumers say a good experience is key in influencing their brand loyalties [PwC]
• 65% of respondents would become long-term customers of a brand if they can provide positive experiences throughout the customer journey [ClickZ]
• 65% of all consumers find a positive experience with a brand to be more influential than great advertising [PwC]
• 96% of customers say customer service is important in their choice of loyalty to a brand [Microsoft]
• 46% of consumers will abandon a brand if employees are not knowledgeable [PwC]
• The top reason why customers switch brands is because they feel unappreciated [Vonage]

Why this is important today:

In today’s competitive business landscape, attracting customers is only the first step. The real key to sustained success lies in keeping customers engaged and fostering loyalty. By investing in a robust CX strategy, businesses can create experiences that not only attract customers initially but also keep them coming back for more. When customers feel a strong connection and positive engagement with a brand, they are more likely to become repeat customers, making regular purchases and contributing to the company’s bottom line. Moreover, strong customer loyalty serves as an indicator that the investments and efforts put into enhancing the CX are yielding favorable results, providing businesses with the assurance that their strategies are effective and worthwhile.

Customer Experience Statistics for Personalization and Speed of Resolutions

• 91% of consumers say they are more likely to shop with brands that provide offers and recommendations that are relevant to them [Accenture]
• Customers are 2.4 times more likely to stick with a brand when their problems are solved quickly [Forrester]
• 80% of customers say they are more likely to do business with a company if it offers personalized experiences [Epsilon]

Why this is important today:

With our society becoming more connected and fast-paced, customers have developed higher expectations when it comes to service. They anticipate personalized interactions and prompt responses from businesses. Meeting these expectations has become a necessity for companies looking to provide exceptional customer experiences. By focusing on delivering personalized and speedy service, businesses can surpass customer expectations and elevate their experience from merely good to truly great. This requires understanding individual customer preferences, anticipating their needs, and tailoring interactions accordingly. By doing so, businesses can create a memorable and differentiated experience that builds customer loyalty and sets them apart from competitors. Ultimately, taking the customer experience from good to great involves a proactive approach to meeting and exceeding customer expectations in terms of personalization and speed.

CX Statistics for Technology

• Less than 1 in 4 brands have the necessary technology to consistently engage with consumers [Twilio]
• Companies that have embraced digital transformation are 26% more profitable than their peers [MIT]
• More than 60% of consumers look for self-service first, instead of contacting a live agent [Microsoft]

Why this is important today:

In the digital era, businesses have access to a wide array of technological options that can significantly enhance their customer experience efforts. Utilizing customer experience tools and live chat software allows companies to streamline their operations, improve efficiency, and provide seamless interactions with customers across various channels. These tools empower teams to work more efficiently by automating repetitive tasks, gathering and analyzing customer data, and delivering personalized experiences at scale. By leveraging these technologies, businesses can engage with customers in real-time, offering immediate support and assistance, regardless of the communication channel chosen by the customer. Furthermore, these tools enable businesses to track and monitor customer interactions, gather valuable feedback, and make data-driven decisions to continuously optimize their customer experience strategy.

CX Statistics for Trust and Brand

• Customers tell an average of 9 people about a positive experience with a brand, but they tell 16 people about a negative experience [Deloitte]
• Companies that provide an emotional connection with customers outperform the sales growth of their competitors by 85% [Gallup]
• Two-thirds of customers will share personal information with brands, but only in exchange for some kind of value [Accenture]

Why this is important today:

Customers today have a strong desire for authentic and meaningful experiences with brands. This craving for genuine connections goes beyond superficial interactions, and customers seek experiences that resonate with their values and emotions. By focusing on creating these authentic connections, brands can differentiate themselves from the competition and leave a lasting impact on customers. Building meaningful relationships with customers fosters loyalty and advocacy, as customers are more likely to engage with and promote brands that align with their values and offer genuine experiences. Brands that prioritize authenticity can cut through the noise, build trust, and establish a loyal customer base that extends beyond transactional relationships. By investing in creating authentic and meaningful experiences, businesses can leave a lasting impression and cultivate strong brand affinity.

Conclusion

The customer experience statistics presented above shed light on the vital role that customer experience plays in today’s business landscape. The numbers speak for themselves, demonstrating the significant impact that positive customer experiences have on brand loyalty, revenue growth, and overall business success.

From the rising preference for personalized interactions to the increasing influence of social media on customer perceptions, it is clear that organizations must prioritize the customer experience to stay competitive. By leveraging data and technology, investing in employee training, and embracing a customer-centric mindset, companies can create exceptional experiences that not only delight customers but also drive long-term loyalty and advocacy.

As we move forward, it is crucial for businesses to recognize the power of customer experience and commit to continually improving and exceeding customer expectations in order to thrive in the dynamic and customer-driven marketplace of today and tomorrow.