6 Stats That Show How The Customer Experience Impacts Your Bottom Line

Consumer Products & Retail

August 29, 2017 / 2 min read


Customer Experience

6 Stats That Show How The Customer Experience Impacts Your Bottom Line

What are the reasons and benefits of investing in customer experience? Here are a few statistics demonstrating the importance of focusing on customer experience within your business:

  1. Good customer experience generates brand loyalty: 86% of consumers who have had an excellent customer experience are likely to become repeat customers of that business.
  2. Good customer experience generates positive word of mouth: The customers who have enjoyed an excellent customer experience are 11 times more likely to recommend the business than those who have had a bad experience.
  3. Good customer experience will increase your sales faster: Customer experience leaders have noted an average annual growth rate of 17%, compared to 3% for businesses that lag behind in customer experience.
  4. There are several ways a bad buying experience can adversely affect a business’s profits: 74% of consumers will be likely to switch brands if they find their buying process was too hard.
  5. In the battle of customer experience versus price, customer experience has the upper hand: 64% of the consumers believe customer experience is more important than price when it’s time to purchase a product or a service.
  6. Customer loyalty and sales: According to senior managers, the main benefits of investing in customer experience are an increase in customer loyalty and an increase in sales.

Given these statistics, would you like to invest in customer experience? Why not contact us to set up a customer experience measurement and management program?

Source: https://www.iperceptions.com/blog/customer-experience-statistics

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