Customer Experience (CX) is increasingly becoming a strategic priority for businesses and for a good reason. With the right CX strategy and investments, businesses can turn customer interactions into meaningful experiences that drive loyalty, boost revenue, and differentiate themselves from competitors.
According to MarketsandMarkets, the global customer experience management market size was valued at USD 9.5 billion in 2021 and is calculated to reach USD 16.9 billion by 2026, at a CAGR of 12.3% during the forecast period. Forcast period:- 2021-2026.
As the customer experience landscape continues to evolve and expand, it’s important to stay up-to-date on the latest trends and developments in the CX field. This article will cover 50 customer experience statistics for 2023 that prove the power of CX. These statistics highlight the importance of customer experience and how it can directly impact customer loyalty, satisfaction, and overall business growth. Understanding these customer experience statistics will help businesses understand the impact CX can have on their bottom line.
50 Must-Know Customer Experience Statistics for 2023
Here are the 50 latest customer experience statistics that will provide you with a brief idea of what’s going on in the CX industry:-
General Customer Experience Statistics
Customers are more attracted to companies that offer solutions developed considering consumer requirements and customer experience trends. CX is one of the primary reasons for a company's increasing customer base and revenue growth. Here are a few CX statistics revealing the importance of customer experience and the trust it creates among customers:-
1) Enhancing the customer experience has raised sales revenues by 2 to 7 percent and profitability by 1 to 2 percent. Additionally, the overall shareholder return has increased by 7 to 10 percent.
2) Nearly 90% of buyers say the experience a company delivers matters as much as products or services.
3) 76% of consumers say it is crucial for brands to show empathy by displaying they can perceive things from the customer's perspective, understand their frustrations and know what is important to them.
4) 44% of global consumers say they will pay out at least $500 or more each year with the brands they trust most, and 29% say they will spend more than $1000/year.
5) Gen Z and Millennials are in all likelihood to say that they will spend $1000+ with their most trusted brands.
Customer Service Statistics on Customer Experience
If your company is delivering better customer service, you will definitely stand out as you will provide positive experiences that smoothen customer journeys. To acquire new customers and retain old ones, you must respond quickly, provide relevant information, and solve customer queries with efficiency for better customer service experiences. Here are a few statistics that reveal more about customer service:-
6) 94% of responding customers stated that a positive customer service experience made them more likely to purchase again.
7) 82% of customers would recommend a company based solely on excellent customer service.
8) 85% expect consistent interactions across departments.
9) 38% of customers expect agents to know who they are and the context of their query immediately.
10) 85% of customers say responsiveness and speed is a critical factor in their loyalty to a brand.
11) 1 in 3 leaders believes that building new-generation digital platforms to help customer-facing teams work better is a top digital investment priority.
12) 83% of customers expect to interact with someone immediately when they contact a company.
Executives/Leaders-Based Statistics on Customer Experience
The role of CX leaders and decision-making executives is of utmost crucial for both brand and customers, as they decide what must be done and how to proceed with any customer-related operations to provide a great customer experience. Here are a few statistics based on executives' thoughts and actions:-
13) Brands are investing more in hybrid experiences, as 40% of executives feel it helps people feel more connected.
14) 65% of leaders reported a decrease in call volume as a result of improved self-service.
15) 1 out of 8 CX experts say brands are reluctant to build their CX environment with the customer-first mindset.
16) When we look forward to overcoming the critical challenges brands face, 23% of leaders suggest listening to the customers directly and through various channels and touchpoints.
Customer Metrics Statistics on Customer Experience
Customer metrics are an important factor that reveals the status of the customer experience your brand provides customers. Metric numbers help you to understand customers well as they are derived from customer data itself. Here are a few statistics about customer metrics you must know:-
17) Customer satisfaction (CSAT) remains the most important KPI for almost 75% of customer service leaders.
18) Organizations that demonstrate how customer satisfaction is associated with growth, margin, and profitability are more likely to report customer experience (CX) success and are 29% more likely to secure more CX budgets.
19) By 2027, one-fourth of global brands ditch CSAT as a metric to measure customer experience and accept a Customer Effort Score (CES) correlated to outcomes as a key indicator of journey satisfaction and success.
20) By 2024, at least 30% of organizations will introduce new success metrics to monitor and estimate the inner and outer flows of customer value creation.
Customer Happiness Statistics on Customer Experience
The aim of customer experience projects is to generate a consistent flow of loyal and happy customers using various tactics like data-driven marketing, personalized services, self-service options, and many such. Look at the following statistics to know how customer happiness affects your brand and what customers expect from your brand to make them happy:-
21) 54% of customers who report positive emotions like feeling happy, valued, and appreciated are willing to forgive brands that make mistakes.
22) 78% of people believe brands can do more to deliver happiness to their customers, and 91% said they preferred brands to be funny; this number increased among Gen Z (94%) and Millennials (94%).
Technology Statistics on Customer Experience
To generate a great customer experience, spending on technology is a must. Technologies like predictive analytics, augmented reality, virtual reality, and several data science techs provide customers with a positive experience that obtains profitable brand loyalty. Here are a few latest technology statistics that you need to know to uplift customer satisfaction:-
23) Marketing analytics are responsible for influencing just over half (53%) of marketing decisions.
24) 72% of consumers say they trust AI (Artificial Intelligence) to improve their customer experiences to at least some extent.
25) Adopting Web3 technologies will drive 45% of global brands to create new immersive experiences, accessible content, and engaged communities and grow the CX creator economy into a $300 billion market by 2024.
Personalization Statistics on Customer Experience
In the current scenario, customers prefer personalized service for best-in-class experiences. Moreover, potential prospects are more likely to go for your offerings if you package them with a personalized experience. Here are a few statistics indicating the importance of personalization:-
26) Salesforce surveyed 13,000+ consumers and nearly 4,000 business buyers worldwide and found that 56% expect all offers to be personalized.
27) 69% of consumers say that providing personal experiences they value is critical to rebuilding trust.
28) 72% of consumers say that poor personalization reduces their trust in brands, and more than 1/3 (36%) say it significantly harms their trust.
29) More than half (58%) will stop purchasing from a brand that does not provide personal experiences they value.
CX Program Statistics on Customer Experience
CX programs are a beneficial component of business that takes care of customer wants and ensure that the organization follows a customer-first mindset while operating. Here are important statistics on the CX program that you must hold knowledge about:-
30) CX programs that exceed management expectations are 2.3 times more likely to have CX efforts in marketing not primarily focused on the path to purchase but on the journey after acquisition.
31) One in five CX programs will disappear, and one in ten will be stronger than ever.
Consumer Data Statistics on Customer Experience
Customer data is fuel to your organization's customer experience activities. With consumer data, you can understand what your target customer demands. And here are a few recent statistics related to customer data that you need to know:-
32) 56% of companies gather unstructured data from various sources to assess customers’ sentiments.
33) 73% of customers are worried that the data brands collect will not benefit them, and instead will only be used to help the brand.
34) 61% of consumers are comfortable with companies using relevant personal information transparently and beneficially, up from 52% in 2020.
35) 81% of consumers say that having choices about how companies use their data is important.
36) Keeping data safe (84%) and providing consumers transparency and control of how their data is used (84%) are the top ways brands can regain customer trust after it is lost.
Customer Communication Statistics on Customer Experience
Smooth communication with customers at every touchpoint is crucial to maintain a healthy brand-customer relationship. Clear and quick customer interactions increase customer trust in your services and improve brand authority in the niche market. Here are a few customer communication statistics based on interactions and conversations that will push you to revamp your communication strategies:-
37) 75% of business buyers say sales conversations are more asynchronous than they used to be.
38) Organizations are planning to increase digital interactions by one and a half times by 2024.
39) In 2022, an average of 59% of customers trust the brands they interact with, two percentage points higher than the 57% of customers who trusted brands in 2020.
40) 74% of customers say communicating honestly and transparently is more crucial now than before the pandemic.
Eye-Opening Statistics on Customer Experience
Poor customer experience pushes customers away in such a manner that they might not opt for your services ever. You must be well aware of the potential factors that upset your customers. Here are a few mind-boggling statistics that will compel you to improve the customer experience you deliver:-
41) Nearly 20% of brands see a drop in customer experience quality.
42) 71% of consumers say they’re unlikely to buy if a company loses their trust.
43) CX differentiation will erode in 3/4th of industries.
44) Gartner survey revealed just 36% of respondents reported their customer persona development has been in place for three years or longer, and 79% of respondents reported their organization struggles to use customer personas to support CX efforts effectively.
45) 2/3rd of consumers are likely to refrain from buying from a company that used their data without permission, experienced a data breach, or disrespected their data preferences.
46) PwC surveyed 9,069 consumers across 25 territories and found 37% of consumer shop at multiple different retailers to meet their needs.
47) 66% of customers have stopped buying from a company whose values didn't align with theirs, up from 62% in 2020.
48) When a brand takes longer to respond than they expect they should, 49% of customers are less likely to spend money.
49) Only 3% of US companies are customer-obsessed, putting customers at the center of their leadership, strategy, and operations, a decrease of 7 percentage points from the prior year.
50) Gartner reveals just 34% of respondents convey they have three or more years of experience developing end-to-end journey maps, and 83% report their organization struggles to utilize customer journey maps to identify and prioritize CX efforts.
To Wrap Up
All the above customer experience statistics indicate how important it is for your brand to get CX endeavors right. When you deliver a top-notch customer experience, you automatically gain benefits, such as an increase in Customer Satisfaction (CSAT) score, customer loyalty, retention, and acquisition rates, and a significant decrease in customer churn rate.
And it would be best if you remembered to keep up with the CX trends to make your customers happy and uplift their trust in your brand. Learn about 9 Unique Customer Experience Trends That Will Define 2023!