The One Customer Experience Stat That All CMOs Need To Know

By Steve Olenski

Here a stat. There a stat. Everywhere a stat, stat. We marketers sure love our stats. And why not, the right stats can reveal a lot and help us all do our jobs better or at the very least cause us to sit up and take notice. Notice I used the word right in my previous sentence.

That’s because stats are like data in that it’s not the big data, it’s the right data that matters most. Same logic applies here.

Like any other topic under the sun there are no shortage of stats when it comes to customer experience (CX). Here’s a few before I get to the headline act.

  • 91% of organizations said they aspire to be among the customer experience leaders in their industry, yet only 37% had started a formal CXM initiative.
  • By 2020, the customer will manage 85% of its relationship with an enterprise without interacting with a human.
  • 91% of organizations said they aspire to be among the customer experience leaders in their industry, yet only 37% had started a formal CXM initiative.
  • In the U.S. alone, brands lose approximately $41 billion each year due to poor customer service.
  • 92% of organizations that view customer experience as a differentiator offer multiple contact channels.

Trust me, there many more stats akin to these that all speak to – no scratch that, scream to the vital importance of the CX in a brand/consumer relationship.

And before I go on, please don’t make the mistake of thinking that CX applies to B2C brands only. Last time I checked there’s not one single business in the whole world that’s being run entirely by a machine. In other words, just because it says B2B doesn’t mean there’s not a human on the other end of the line.

The One Customer Experience Stat That All CMOs Need To Know

Before I get to the headliner, one more “opening act” — 78% of marketers say they try to differentiate through customer experience.

And without further ado…

Three out of four (74%) consumers say they have spent more with a company because of a history of positive customer service experiences.

Let’s let that sink in for a moment, shall we?

Now, go back to the 78% of marketers who say they try to differentiate through customer experience. Sorry kids, as Yoda says you do or do not. There is no try. Not when so much as it at stake. Think about it, there are 78% who say they are trying, which means not all 78% are succeeding of course. Then there’s the remaining 22% who are not even trying.

Really?

Just what exactly are these marketers doing?

This is the bottom line we’re talking about boys and girls. The ultimate KPI. The big kahuna of metrics. When I see a stat that shows that 3/4 of people saying they spend more money with my brand based on the right kind of CX… I think I’m going to sit up and take notice, to say the least.

One final stat, if I may: Over half of all customer interactions happen during a multi-event, multi-channel journey.

That should come as absolutely no surprise to any CMO or marketer of any level. And it speaks to, and yes screams to the need to have the right technology in place and it’s why you need to download The CMO Solution Guide to Leveraging New Technology and Marketing Platforms. There’s too much at stake not to.

Source:: ItsAllAboutRevenue

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