CX STATS
Customers expect a lot from the companies they do business with. In a world where customers can easily switch to a competitor, companies that fail to take action to meet expectations face losing opportunities.
Investment in CX is critical to bottom-line growth
80% of organisations expect to compete mainly based on CX. (Gartner)
73% of customers now say CX is the number one thing they consider when deciding whether to purchase from a company. (PwC)
Of companies that focus on CX, there’s an 80% increase in revenue. (Zippia)
Customer-centric brands report profits that are 60% higher than those that fail to focus on CX. (CX Index)
80% of leaders plan to increase customer service budgets over the next year. (Zendesk CX Trends Report 2023)
Customer expectations are on the rise
86% of consumers say they would leave a brand after only 2 poor customer service experiences. (Emplifi)
49% of customers who left a brand to which they’d been loyal in the past 12 months say it’s due to poor CX. (Emplifi)
60% of consumers have purchased something from one brand over another based on the service they expect to receive. (Zendesk CX Trends Report 2023)
64% of customers will spend more if a business resolves their issues where they already are. (Zendesk CX Trends Report 2023)
Customer experience is all about the customer. So how do brands’ CX endeavors stack up in the eyes of consumers?
Around 9 in 10 brands think they are providing “good enough” customer experiences (IDC, Emplifi)
60% of customers disagree that brands are providing a good customer experience (IDC, Emplifi)
3 in 4 American shoppers say customer experience is the deciding factor when choosing between competing brands (PwC)
As many as 86% of consumers claim they would leave a brand after 2-3 bad customer service experiences (Emplifi)
Consumers will pay up to a 16% price premium for a positive customer experience (PwC)
EX STATS
With more than half of the world’s employees feeling disengaged, organisations face the risk of lower productivity, higher turnover rates, and a workforce that doesn’t feel connected or committed to the company vision.
Investment in EX boosts engagement
Employees who report having a positive employee experience are 16 times more engaged than employees with a negative experience. (Mckinsey, 2021)
The majority of the world’s employees (59%) are not engaged, and 18% are actively disengaged. (Gallup, 2023)
Low engagement costs the global economy US$8.8 trillion and accounts for 9% of the global GDP. (Gallup, 2023)
80% of executives rate employee experience as important or very important to them and their companies (Deloitte)
EX and engagement reduce turnover
Engaged organisations see 59% less employee turnover. (Gallup)
63.3% of companies say retaining employees is actually harder than hiring them. (Zenefits)
Almost 1 in 3 (29%) workers changed jobs within the past year, with an additional 9% actively looking for their next role. (Owl Labs)
Compared to other companies, companies that are among the 6% heaviest investors in EX are included among Glassdoor’s Best Places to Work 11.5x as often (Jacob Morgan)
For employees ranked within the lowest 25% in terms of EX, 44% express intent to leave their workplace (IBM: The Employee Experience Index)
Investing in EX boosts performance and profit
For the top 25% of employees in terms of EX, 96% also report high levels of work performance (IBM: The Employee Experience Index)
When compared to business units in the bottom quartile of engagement, those in the top quartile realise greater productivity by 17%, lower absenteeism by 41%, and higher profitability by 21% (Gallup)
In terms of average profit, companies that invest in EX outperform the ones that don’t by 4.2x (Jacob Morgan)
In term of profit per employee, companies that invest in EX outperform the ones that don’t by 4.0x (Jacob Morgan)