What is Customer Experience and Why is it Important for Businesses?

Why is Customer Experience Important?

1. Customer Loyalty and Retention:

• Research shows that contact centres providing excellent customer experience can increase customer loyalty by 60% (Forrester Research).
• Loyal customers cost 50% less to retain than acquiring new ones (Harvard Business Review).

2. Competitive Advantage:

• Contact centre service quality is a deciding factor for 70% of customers when choosing a brand (Gartner).
• A positive contact centre experience can boost customer satisfaction by 33% (American Express).

3. Positive Word-of-Mouth:

• 77% of satisfied customers share positive experiences with friends (Zendesk).
• 50% of customers who have a positive contact centre experience recommend the brand on social media (Nielsen).

4. Customer Satisfaction and Complaint Management:

• Effectively resolving complaints increases customer satisfaction by 25% (Bain & Company).

Resolving 90% of complaints on first contact raises satisfaction by 80% (SQM Group).

5. Financial Performance:

• A good customer experience can increase revenues by 5-10% (McKinsey).
• Contact centre satisfaction can boost customer lifetime value by 25% (Accenture).