According to Forrester’s US 2022 Customer Experience Index rankings, customer satisfaction ratings fell for 19% of brands in 2022, representing the largest decrease since the inception of this annual survey. In addition, Forrester reports that of only 3% of US companies are customer-obsessed (companies that are identified as putting customers at the center of their leadership, strategy, and operations ), a decrease of 7 percentage points from the prior year.
With well-documented evidence that consumers, more than ever before, expect great service, to be treated with respect, and to feel that they are being heard, why are so many brands falling short?
In Forrester’s report that polled over 96,000 U.S. consumers, the leading reasons for this dip in satisfaction include staffing shortages and a lack of emotion/empathy from brands.
Regarding staffing shortages, Forrester makes it clear that consumers have lost patience for this excuse. Pete Jacques, Forrest principal analyst, and report co-author, commented:
“There probably is an element of ‘We’ve all been suffering through this through the past few years; we’re now tired of having to wait a long time to get a call answered or a problem resolved.”
With regard to emotion/empathy, Forrester reinforces what we at Servicing Solutions have known for some time: consumers want to feel valued:
“Emotion continues to be a key driver for delivering high levels of CX performance. Fifty-four percent of customers who report positive emotions like feeling happy, valued, and appreciated are willing to forgive brands that make mistakes.”
The research backs the importance of empathy/emotion. The elite brands in this year’s study — the top 5% of brands in the entire CX Index — had a 15-point advantage over others in providing emotionally positive experiences for customers.
Servicing Solutions was founded, in large part, to address consumer frustrations that lead to diminished CX ratings. We are committed to a customer-centric approach to CX that is built from the outside in, one that prioritizes customer satisfaction above all else, will provide far more value to your brand than one that prioritizes short-term efficiency and cost-savings increases.
For example, Deloitte reports that a customer-centric approach leads to a 60% increase in profitability, while JD Power has found that providing service based on a customer’s individual situation leads to a 229-point increase (in customer satisfaction. There is no shortage of evidence to support the implementation of this type of strategy.
While a customer-focused strategy will include highly complex heavy operational, technological, and analytical elements, , the forefront of the strategy should be relatively simplistic and always keep the customer in mind. Various research reports reveal that the vast majority (as high as 90%) of consumers point to customer service as a deciding factor to stay with a brand. And the top 3 considerations given are invariably simplistic at their core:
- Friendly Staff
- Access To Service Via Their Preferred Channel
- Fast Issue Resolution
In other words, consumers want to be treated with respect. They don’t want to be forced into communication channels that they are not comfortable with. And they want their issues resolved with as little effort as possible.
These three elements are the building blocks of a customer-centric approach that brands should be focused on at every turn.
Ready to Invest In Real Experience and leverage a customer-centric approach that will improve your CX ratings while others fall behind? Reach out to us at sales@servicingsolutions.com.