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Customer Experience Statistics of 2020

We hear the terms “customer experience” and “CX” everywhere, but what do they really mean?

John Foley from Oracle defines customer experience as “the idea that businesses can use everything they know about a customer to personalize and maximize the transaction at every touchpoint and across business channels – in the store, on the phone, online, and via social media and mobile.” Greg Gianforte from RightNow Technologies, Inc. defines customer experience as “the sum total of all interactions that customers have with a brand, and the perception they form as a result.” Superoffice makes it even simpler. “Customer experience is your customers’ perception of how the company treats them.”

Though customer experience is a general term, there’s a reason we hear it so often – it’s what makes businesses competitive in a market rife with options, especially in the times we’re living in. We have the data to prove it. We compiled the top statistics to depict the current state of the customer experience in 2020. 

How important is customer experience?

Very! A positive customer experience improves sales, brand image, customer loyalty just to name a few benefits. Plus, your customers are demanding it:

  • 80% of customers say the experience a company provides is as important as its products and services
  • 73% of all people point to customer experience as an important factor in their purchasing decisions
  • 65% of consumers find a positive experience with a brand to be more influential than great advertising

What are your customers’ expectations?

Customers’ expectations of an interaction with your brand or evolving and rising. Here is what consumers have to say:

How are businesses responding to expectations?

Businesses have recognized the importance of customer experience and are rising to the occasion:

What are the top challenges for businesses today?

With process and operational improvements comes challenges, and businesses across the board are having a similar experience:

  • 56% of companies say “deriving real-time insights” is the top challenge of improving customer experience
  • 48% of businesses struggle to improve their customer experience because the strategy is not cohesive across departments
  • 44% of businesses working to improve their customer experience have trouble with the ability to respond in real-time

What metrics best represent customer experience?

Tracking customer experience metrics is the best way to tell if you’re improving. These are a great place to start:

How can you improve your customer experience?

Your customers have spoken and are here to tell you what they want:

2020 is a year full of uncertainties and these customer experience statistics prove that customers are practically begging for a dependable and positive interaction with your business. 

As an entrepreneur with limited resources, it may seem daunting to provide a customer experience that truly dazzles. However, research shows there is plenty of potential to do just that — only 49% of U.S. consumers say companies provide a good customer experience today. 

More than 85% of businesses have more data on their customers than they did two years ago. By getting to know your customers, using personalization, and providing human customer service as often as possible, you can blow your competitors away with an efficient and exceptional customer experience that keeps them coming back for more.