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Customer Experience

Providing a great customer experience isn’t just important for businesses – it’s essential if you want to stay ahead of your competition and maintain a loyal customer base.

Below are 15 stats that illustrate why your business should be making customer experience a number one priority:

  • At the end of 2020, customer experience overtook price and product as the key brand differentiator. (Walker)
  • 86% of buyers are willing to pay more for a great customer experience. (PwC)
  • By 2022, global spending on CX is estimated to reach $640 billion. (Statista)
  • 63% say they’d share more information with a company that offers a great experience. (PwC)
  • One in three consumers (32%) say they will walk away from a brand they love after just one bad experience. (PwC)
  • Customer-centric companies are 60% more profitable than companies that aren’t. (Deloitte)
  • 71% of customers recommend a product or service because of a great customer experience. (Radial)
  • In 2020, 14% of brands improved their CX quality, mainly through back-end systems and processes. (Forrester)
  • 77% of marketing leaders agree or strongly agree that they use automation to improve CX. (Oracle)
  • $35.3B is lost every year by US businesses in customer churn caused by avoidable CX issues, such as fair treatment. (CallMiner)
  • 74% of senior executives believe that customer experience impacts the willingness of a customer to be a loyal advocate. (Oracle)
  • 48% of organizations created more content for customer engagement in 2020. (Acquia)
  • 79% of marketing professionals say that improving customer retention and satisfaction is the primary objective for their CX strategy, with 61% indicating that it’s also the top critical challenge they face. (Ascend2)
  • Only 15% of business leaders say they’re fully satisfied with how their companies are measuring CX. (McKinsey)
  • Experience-Driven businesses see over 1.5x higher year-on-year growth than other companies in customer retention, repeat purchase rates, and customer lifetime value. (Forrester and Adobe)