Recent research carried out by PwC highlights the need for more focus on customer service when it comes to doing business. The company surveyed 15,000 consumers from across 12 different countries across the globe. This comes after a similar report was carried out by PwC Ireland which came to the same conclusions.
Two-thirds of surveyed consumers felt that companies have lost touch with the human element when it comes to customer experience, with three quarters stating that they want to see more human interaction in this department.
In an ever-growing digital world where chatbots, artificial intelligence (AI), Big Data, etc are taking over, companies need to put more effort into ensuring the right customer experience balance for customers; ensuring the presence of both human interactions and technology.
While price and quality remain the top choice for consumers to purchase from a brand, a staggering 73% of those surveyed stated that positive customer experience was also key in determining brand loyalty.
Increase of up to 16% in ROI
More importantly, the research highlighted that businesses can benefit from up to a 16% increase in return on investment if they incorporate quality customer experience into their business model. Gone are the days when the focus was solely on the sale of products and services, more and more consumers are seeking out in-store experiences. Across the globe, customers are also willing to pay more for the following elements when it comes to customer service:
- Speed & efficiency (52%)
- Convenience (43%)
- Knowledgeable & helpful employees (41%)
Cost of Bad Customer Experiences
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