10 Intriguing CX Stats To Kick Off 2023 🍿

G'Day Crew & Happy New Year!

We have a really good feeling about 2023 - let's hope it's fruitful for everybody 🍇🍎!

We're keeping this email short & sweet as we slowly work our way into the New Year.

#1 - Business Priorities - From a survey of 1,920 business professionals, 46% stated that CX was the top priority for their business in the next 5 years.

• Our take: As the economy slows down, we expect customer retention to become more important that customer acquisition.

#2 - ROI on CX - Customers are willing to pay a 13-18% higher price simply for receiving a great customer experience.

• Our take: Being able to calculate the ROI on great CX will be integral in 2023. Get started using these ROI templates.

#3 - Personalisation - 49% of consumers have made impulse purchases after receiving a more personalised experience.

• Our take: Why do you have a favourite coffee shop? We bet it's got something to do with the fact that the barista knows your name and coffee order. In 2023, businesses are expected to provide the same level of personalisation online. Those who do this will win.

#4 - CX as a differentiator - More than 66% of companies now claim to compete primarily on the basis of CX - up from 36% in 2010!

• Our take: Consumers have more choice than ever before which makes your brand easily dispensable. Give your customers the love & care they deserve. You will be rewarded with high retention rates in return.

#5 - Words VS Actions - Whilst CX is seen as an important lever, this is not being reflected in 2023 budgets. Only 44% of companies said they will increase their investment in CX initiatives, with the majority of these companies only expecting a slight increase in funding.

• Our take: Whilst a lot of companies claim to "care" about CX, their actions say otherwise. Until CX leaders can truly convince the CFO & CEO of the business value that CX generates, investment will be limited. Change this narrative using these CX-ROI calculators.

#6 - Proactive Support - More than 85% of customers have a desire to experience proactive communication and contact from a business. They want companies to solve their issues before they become problems.

• Our take: It's about time that outbound contacts outweigh inbound contacts within a contact centre environment. Businesses have enough data available to be able to notify customers when something is due to go wrong - late deliveries, damaged items, defaulted payments. We expect 2023 to be the year where CX leaders proactively get in front of issues before the customer knows about them.

#7 - Mobile-first - 55% of customers agree that a bad mobile experience makes them less likely to engage with the company moving forward. This is extremely important as 59% of all internet traffic worldwide now comes from mobile.

• Our take: Providing a great digital experience is often on the top of the list each year. Where we think there needs to be some additional consideration is the channels that customers use to interact with businesses. WhatsApp, FB Messenger & Video messaging should all become commonplace in 2023.

#8 - Chatbots - 67% of customers prefer self-service VS speaking to a human, with 91% of consumers saying that they would use an online knowledge base, if it were tailored to their needs.

• Our take: Whilst AI & Chatbot utilisation is definitely increasing, 51% of customers still report that they do not get an accurate answer when speaking with a Chatbot. Until this is fixed, human support teams will remain overwhelmed with basic requests.

#9 - Silent Churn - Customers rarely tell you that they're unhappy. Only 4% of unhappy customers actually complain. The rest will silently stop doing business with you. This is reinforced by a survey of 15,000 customers by PWC which found that 92% would completely abandon a company after 2 or 3 negative interactions.

• Our take: Silent churn is deadly to a business. Just because a customer isn't complaining does not mean that they're satisfied with the service that you're providing. This is why it is critical to leverage technology to analyse all types of customer signals, enabling your team to proactively identify customer friction points & systemic issues.

#10 - SLAs - Customers still say that the most important attribute of the customer experience is fast response times.

• Our Take: Response SLAs are generally set as an internal KPI with no consideration for what the customer wants. Like who actually made the decision that 2 business days is an acceptable response period for emails? Providing great CX is simple ... respond fast & provide accurate information.

Source: superoffice.com