The pandemic has sparked immense change in consumer behaviour trends and so it should come as no surprise that consumer needs and desires have also shifted. But have brands adapted alongside their customer base? According to over 5,000 global consumers, clearly not enough.
This year, Alida has created our first edition of the Alida Global Trends Report showcasing research findings on world-wide customer experience (CX) trends. As a company that specializes in Total Experience Management (TXM), we understand the importance of CX as a key player in driving business success. We offer this report as a roadmap to helping businesses find ways to continuously improve their CX strategies. Alida’s research team took the pulse of 5,300 consumers from the United States, Canada, United Kingdom, Australia and India, to evaluate how they spend their money and time. From this report, four key findings were identified:
- Rapid change has left some customer segments behind
One in four consumers say customer experience has gotten worse. Evidently, customer experience is not a one-size-fits-all strategy. When groups with considerable buying power express discontent, businesses need to pay attention. Brands should assess their touchpoints—particularly digital ones—for all age groups and geographies they serve. It’s important that voices from all generations and demographics are included in your customer experience strategy to ensure you’re meeting the diverse needs of every customer.
- Your customers expect to be treated as individuals
Ensuring every customer interaction is a great one is vital to a strong CX program. In fact, half of all consumers say personal experience is the #1 factor in their purchasing decisions. Strengthening the bond with your customers by delivering exceptional experiences is what will ultimately have them returning as well as leave them with a positive and lasting impression.
- Consumers are keeping an eye on your brand values
Your products and services aren’t the only decision factors for your buyers. Consumers also
want to know what you stand for and how you treat people. A majority of respondents say they are more likely to spend and interact with a brand that has values that align with their own. Therefore, being transparent about your efforts and sharing results with your customers can work to increase their trust in you and ultimately, their brand loyalty.
- Consumers have feedback to share, but don't think companies will do anything about it
97% of all consumers say they are likely to share their feedback if they know it will be implemented, however the majority (75%) don’t think companies actually listen to it all, let alone apply it. It is clear that your customers have things to share about your business and they want you to listen to their feedback. By actively investing in customer communication channels and feedback opportunities, you can demonstrate to your consumer base that you do in fact want to prioritize their opinions and that they have weight in driving your business forward.
If this year has taught us anything, it is that customer experience is an essential competitive advantage. It is so important to implement a strong CX strategy: One that invests in collecting constant feedback from customers, that takes action on those evolving expectations, and takes the time to create thoughtful bonds with the customer base. By doing so, companies can ensure every interaction their customers have is memorable, positive, and equally driving brand loyalty and revenue for their business.