Today’s consumers are loyal to experiences, not brands.
Businesses that want to remain competitive in 2023 need to make customer experience their priority. But in a market where consumer expectations are changing faster than ever, what does excellent customer experience look like?
What makes a great customer experience?
The importance of CX to wireless retail shouldn’t come as a surprise. For years, study after study has shown that great customer experience leads to increased customer spending, customer loyalty, and customer advocacy. But what should businesses focus on to ensure they’re able to provide that great customer experience?
Research by PwC cites five major factors to creating great CX: consistency, trust, convenience, speed, and personalization.
- 54% of consumers would stop doing business with a brand after one bad experience
- 88% of consumers think the experience a company provides is just as important as its products or services
- 90% of consumers expect a consistent experience across all channels
Businesses can’t afford to take their customers for granted, because today’s consumers are loyal to experiences, not brands. It’s not enough to provide a good customer experience most of the time. You must provide a great customer experience every time.
- 46% of consumers surveyed in the U.S. say that they would pay more to purchase from brands they can trust
- 47% have switched brands to a competitor that matches their stance on social issues such as diversity or environmental sustainability
- 96% of consumers say excellent customer service builds trust
Consumers want to trust the companies they do business with; many are willing to either switch brands or pay more for goods and services in order to do business with a brand they feel they can trust. Businesses build trust not only with excellent customer service, but also by demonstrating a commitment to shared values.
- 66% of shoppers are willing to pay more if there is an option to make their purchase more convenient, such as delivery or curbside pickup
- 71% of shoppers say it’s important or very important to be able to view inventory information for in-store products
More than anything, businesses that want to succeed cannot waste their customers’ time. Consumers need service that works with their schedule, and are willing to pay more to get it:
- 74% of consumers will go to a competitor’s store if they think the queues are shorter there
- 73% of customers will leave without making a purchase if they have to wait more than five minutes.
We all know someone who’s had a miserable experience buying and activating a new phone because they had to spend 45 minutes, an hour, or more in-store. Such long transaction times tie up staff, resulting not only in lower customer satisfaction, but also lost potential sales from people who don’t want to wait in long, slow lines.
- 56% of consumers expect offers to be personalized 100% of the time
- 49% of Canadian consumers are willing to share data with brands on how they use products
- 73% of consumers expect organizations to understand their personal needs and expectations
Even with growing awareness of data privacy, many consumers want to be able to share data with brands they do business with, in order to get personalized experiences. They become frustrated when businesses aren’t capable of meeting that expectation.