Rising consumer expectations are the No.1 challenge for organisations, putting their bottom line at risk as they struggle to deliver relationship-building experiences.
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GLOAccording to new research by Genesys, a global cloud leader in experience orchestration, 31% of consumers opted to take their business elsewhere after a dissatisfactory interaction last year, thereby threatening brand loyalty. Rising consumer expectations are the No.1 challenge for organisations, putting their bottom line at risk as they struggle to deliver relationship-building experiences. Consumer preferences for personalised, empathetic experiences, rapidly increasing digital channel use, and declining satisfaction with automated interactions create mounting pressure for organizations worldwide. Furthermore, 77% of consumers will switch brands after five or fewer negative interactions with a brand’s customer service, making it important for companies to strengthen customer and employee relationships by orchestrating personalised, empathetic experiences at scale. To meet the increasing expectations of consumers, it is imperative for organizations to understand the preferences and motivations driving their behaviors. Strategic personalization, response time, and issue resolution efficacy are the most valuable elements of customer experience for consumers. Key spending priorities focus on enabling end-to-end experience orchestration to improve engagement across channels, systems and departments. Better chatbot and employee connections start with knowledge, while connected customer experiences are crucial for seamless experiences. Email has overtaken voice for the first time as the most common method to reach customer service.
Download the study here.
Research methodology: In November 2022, Genesys worked with an independent research firm to survey 5,517 consumers and 646 CX decision-makers (“CX Leaders”) in 18 countries worldwide. Among the business respondents, industries represented were banking, government, healthcare, insurance, manufacturing, professional services, retail, technology and telecommunications.
About Genesys
Every year, Genesys orchestrates billions of remarkable customer experiences for organizations in more than 100 countries. Through the power of our cloud, digital and AI technologies, organizations can realize Experience as a Service®, our vision for empathetic customer experiences at scale. With Genesys, organizations have the power to deliver proactive, predictive, and hyper personalized experiences to deepen their customer connection across every marketing, sales, and service moment on any channel, while also improving employee productivity and engagement. By transforming back-office technology to a modern revenue velocity engine Genesys enables true intimacy at scale to foster customer trust and loyalty. Visit www.genesys.com.
