All it Takes is One Poor Experience to Lose a Customer - Study Shows
We've been talking a lot about customer experience these days and a new study out by customer engagement firm Verint proves why.
The study shows that 6-10 customers will switch brands after one poor experience. That's 60% of customers that may be buying your product right now.
Another study, we've referenced on our blog reiterates that big brands know this and have put customer experience as a top priority online and in retail stores. It is the driving force for their messaging and marketing, and right now it's all that matters to consumers. Startups and small enterprise should take a chapter from this playbook. It's crucial if you want to have repeat customers, great online sentiment and engagement, and to survive.
Across demographics, customer experience is seen as "critical". Customer patience has been wearing thin, in no thanks due to reduced materials, manufacturing, truck drivers and logistics management, the high price of gas and empty shelves - online and brick and mortar.
The study reveals that companies need to focus on customer retention over acquisition. Meaning, keep your current customers happy, let them proselytize for you and help you acquire new customers.
Read and download the full study here.