Designing a customer-centric app for your business will quickly build, exceptional customer experiences and brand loyalty. Personalised membership apps facilitate direct 24/7 connection with your existing customer base, personalised VIP services, time and location based offers and rewards. Never before have business been able to provide deeply engaging customer experiences, integrated on their most personal possession.
It still surprises me, even in this day and age, how many people still need convincing that using technology and innovation to improve Customer Experience will generate significant revenue and save costs. Here are some supportive stats from reputable sources that clearly showing the benefits of focusing on customer experience especially on existing clients.
- 90% of time spent on a mobile smart device is behind apps (10% in a web browser) - Forrester
- It costs 6–7 times more to acquire a new customer than retain an existing one – Bain & Company.
- The probability of selling to an existing customer is 60 – 70%. The probability of selling to a new prospect is 5-20% – Marketing Metrics.
- eCommerce spending for new customers is on average $24.50, compared to $52.50 for repeat customers – McKinsey.
- Price is not the main reason for customer churn, it is actually due to the overall poor quality of customer service – Accenture global customer satisfaction report 2008.
- A customer is 4 times more likely to defect to a competitor if the problem is service-related than price- or product-related – Bain & Company.
- For every customer complaint, there are 26 other unhappy customers who have remained silent –Lee Resource.
- A 2% increase in customer retention has the same effect as decreasing costs by 10% – Leading on the Edge of Chaos, Emmet Murphy & Mark Murphy.
- 96% of unhappy customers don’t complain, however, 91% of those will simply leave and never come back – 1Financial Training services.
- A dissatisfied customer will tell 9-15 people about their experience. Around 13% of dissatisfied customers tell more than 20 people. – White House Office of Consumer Affairs.
- Happy customers who get their issue resolved; tell about 4-6 people about their experience. – White House Office of Consumer Affair.
- 70% of buying experiences are based on how the customer feels they are being treated – McKinsey.
- 55% of customers would pay extra to guarantee a better service – Defaqto research.
- Customers who rate you 5 on a scale from 1 to 5 are six times more likely to buy from you again, compared to ‘only’ giving you a score of 4.8. – TeleFaction data research.
- It takes 12 positive experiences to make up for one unresolved negative experience – “Understanding Customers” by Ruby Newell-Legner.
- A 5% reduction in the customer defection rate can increase profits by 5 – 95% – Bain & Company.
So my question to you is this: with this weight of evidence, why do organisations still not truly focus on improving the Customer Experience?