Knowing your customers, how they behave, what they want, and when they want it is key to providing a valuable experience. And, despite the ongoing fallout and upheaval caused by the global pandemic, a basic underlying principle remains true in business, even today: satisfied customers spend more and are more likely to return.
Regardless of the industry, organizations of all sizes understand this basic principle. And now, perhaps more than ever before, they are realizing that in order to increase customer acquisition, satisfaction, and retention they must ensure that they deliver frictionless customer experiences.
Indeed, new research from Harvard Business Review Analytic Services confirms that customer experience is a top-five business priority. According to its survey, over 85% of respondents noted that a complete and consistent view of customers across all channels and platforms is “very important to their future business success.” However, only 17% of respondents claim that their organizations are either “excellent in both insight and engagement or excellent in one and good in the other.”
Clearly customer experience is something that is widely accepted as being important, yet it is often underdelivered. Why is there a disconnect?