Aloha everyone 🌺

I hope you all had a phenomenal weekend and are ready to kick some goals in the week ahead.

Apologies for the slightly delayed email this week - things are “good busy” at work at the moment.

I often ask myself what the point of this newsletter is …

My answer is to equip myself and all of my subscribers with relevant #CX insights & statistics, ensuring that we are:

• A - making good decisions and,

• B - having educated, data-driven discussions.

The below newsletter will definitely allow you to do both of those things. If it has added value, all I ask is that you share it with one friend.

I hope you like it 🙃.

Section 1: ROI on CX 💰

• Zendesk 2023 Trends report has found that 52 percent of customers will switch to a competitor if they have a single negative impression with a company.

  
  

• Customer-centric brands report profits that are 60 percent higher than those that fail to focus on CX (Source: CX Index).

  
  

• 80 percent of leaders plan to increase customer service budgets over the next year (Zendesk CX Trends Report 2023).

  
  

• 41 percent of customer-obsessed companies achieved at least 10 percent revenue growth in their last fiscal year, compared to just 10 percent of less mature companies. (Forrester).

  
  

• 64 percent of customers will spend more if a business resolves their issues where they already are (Zendesk CX Trends Report 2023).

Section 2: Customers Are Needy in 2023 🙋‍♂️

• 49 percent of customers who left a brand to which they’d been loyal in the past 12 months say it’s due to poor CX (Emplifi).

  
  

• 70 percent of customers expect anyone they interact with to have full context (Zendesk CX Trends Report 2023).

  
  

• 60 percent of consumers have purchased something from one brand over another based on the service they expect to receive (Zendesk CX Trends Report 2023).

  
  

• Customers are 2.4 times more likely to stick with a brand when their problems are solved quickly (Forrester).

  
  

• 48 percent of consumers expect specialized treatment for being a good customer (Accenture).

Section 3: AI in CX 🤖

• Globally, the conversational AI market is expected to grow 22 percent between 2020 and 2025, with the market reaching nearly $14 billion by 2025 (Deloitte).

  
  

• 54 percent of support teams use some form of chatbot, VCA, or other conversational AI platform for customer-facing applications. And by 2027, chatbots will become the primary customer service channel for roughly a quarter of organizations (Gartner).

  
  

• 72 percent of business leaders agree that expanding the use of AI/bots across the customer experience over the next 12 months is very or somewhat important. (Zendesk CX Trends Report 2023).

  
  

• 68 percent of business leaders already have plans to increase their investments in AI (Zendesk CX Trends Report 2023).

  
  

• The line between chatbot & webchat is going to become much more blurred within the next 3-5 years. What’s CEXy expects customers to interact with chatbots & humans within the same conversation without knowing the difference.

Section 4: The Connected Customer ☢️

• More than 19 in every 20 CX leaders have invested or plan to invest in data integration, data integrity, or data enrichment technologies (CX Today).

  
  

• 74 percent of agents say that having access to more tools and data will give them more opportunities to personalize interactions (Zendesk CX Trends Report 2023).

  
  

• 54 percent of organizations stated that their biggest barrier to leveraging data was fragmented or siloed data (Treasure Data).

  
  

• The second highest priority for data management teams is to better integrate or leverage siloed customer datasets (CMSWire).

  
  

• A survey found that 33 per cent of business leaders said that their top digital CX challenge related to siloed systems, technology and/or fragmented customer data (CMSWire).

Section 5: Personalize or Perish 💣

• 88 percent of online shoppers are more likely to continue shopping on a retailer website that offers a personalized experience, including 96 percent of Gen Zers and 97 percent of Millennials (Elastic).

  
  

• 59 percent of consumers believe businesses should use the data they collect about them to personalize their experiences (Zendesk CX Trends Report 2023).

  
  

• 76 per cent of customers get frustrated when they don’t receive a personalized experience (McKinsey).

  
  

• 60 percent of consumers report that they will become repeat buyers after a personalized purchasing experience (Twilio).

  

  Source: McKinsey

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