Consumer expectations? Skyrocketing. These shifts make it harder and harder for brands to keep up and present a challenge that brands must face: the customer experience gap.
Consumer behavior is constantly shifting, presenting brands with an ongoing challenge: the customer experience gap. The CX gap is the distance between what customers expect from a brand and how well brands meet these expectations. Minimizing the gap is a must for your brand to stand out, but closing it is no easy feat.
In this article, learn how to overcome key CX challenges and improve the customer experience, as well:
- Why closing the gap is key for your brand’s ongoing success
- What makes closing the CX gap so challenging
- How a unified CX platform can help you provide positive and consistent experiences across the entire customer journey
Table of Contents
Content Summary
What is the CX gap?
In the age of CX, closing the gap is key
What makes closing the CX gap so challenging?
Conclusion: Where a unified CX platform helps
What is the CX gap?
The CX gap is the distance between what customers expect from their experiences with a brand and how well brands believe they are meeting these expectations. In an age when many customers prioritize brand experience (even more than price), minimizing these gaps is a must if you want your brand to stand out.
In the age of CX, closing the gap is key
- Organizations defined as CX leaders were three times more likely to outpace mainstream organizations on company performance.
- 32% of customers stop doing business with a brand they love after only one negative experience.
- CX drives over two-thrids of customer loyalty, more than ‘brand’ and ‘price’ combined.
- 74% of customers are at least somewhat likely to buy based on experiences alone.
- Experience-driven businesses see over 1.5x higher YoY growth than other companies in customer retention, repeat purchases rates, and customer lifetine value.
What makes closing the CX gap so challenging?
Customers want speed and convenience
- 90% of customers expect an “immediate” response to their support questions (10 minutes or less).
- 75% of people expect to get immediate info when they use their smartphone.
- Speed, convenience, friendly service, and knowledge help are the most critical elements of positive CX according to U.S. consumers.
Customers want consistency
- 65% of respondents would become long-term customers of a brand if they can provide positive experiences throughout the customer journey.
- 42% of consumers say a seamless experience across all devices and channels is a “top expectation.” 11% of decision-makers see it as the most important factor when delivering quality enperiences.
Customer want personalization
- 40% of consumers arel likely to spend more than they had planned when experiences are highly personalized to them.
- Consumers will pay a 16% price premium for great customer experience.
Conclusion: Where a unified CX platform helps
Closing the CX gap is all about: Providing positive and consistent experiences across the entire customer journey that are empathetic to their needs and expectations.
This is no easy feat, especially with customer behaviors and expectations are always evolving. Bringing together marketing, commerce, and care – across all channels – presents a solution.
Here’s why a unified CX platform is vital to help close the gap:
- $2M+ saved in support and operations costs.
- 61% increase in social media engagement.
- 145 working/year in time savings.