According to the Zendesk’s report, half of customers will switch to a competitor after just one bad experience, and 80 percent will leave after multiple bad experiences.
Zendesk’s annual report, Zendesk Customer Experience Trends Report 2020, analyzes how businesses can drive customer loyalty, what matters most to people when they engage with businesses, and what differentiates leading companies from their competitors. The annual report is based on global survey results and the Zendesk Benchmark, an index of product usage data from more than 45,000 global companies using Zendesk and the gold standard of data on how companies use their customer experience solutions.
Customer expectations are at an all-time high, and loyalty is fleeting. According to the report, half of customers will switch to a competitor after just one bad experience, and 80 percent will leave after multiple bad experiences. The research also reveals that service is a primary driver of customer loyalty, second only to price in determining whether customers feel loyal to a brand.
The weight that customers place on service continues to increase. Gartner’s recent report, Delivering Relevant Content and Knowledge to Customers Is Key to Great Customer Service (Gartner subscription required) predicts that, “By 2023, organizations at advanced stages of digital transformation will find that poor customer experience is their biggest barrier to further success.”
“Both traditional and modern brands are seeing the importance of providing their customers with a consistently good experience, with the data proving that customers will quickly switch to your competitor after just a single bad experience. Building customer loyalty, therefore, is proving to be one of the toughest measures and yet most valuable assets a brand can possess, and a clear CX strategy built using the best tools and technology is the key to winning in this new reality,” said KT Prasad, Country Sales Director, Zendesk India.