New research from Oracle indicates that consumers are willing to pay more for a better customer experience. The pan-European report, 'Why Customer Satisfaction is No Longer Good Enough', states that 81 per cent of consumers surveyed would pay a higher price for a brand with an enhanced customer experience, with 44 per cent willing to pay a premium of more than 5 per cent.
Improvement of the overall customer experience (40 per cent), providing quick access to information and making it easier for customers to ask questions (35 per cent) were cited as key drivers for spending more with a brand. 70 per cent of respondents said they ceased loyalty to a brand following a poor customer experience. The importance of social media is evident in the results also with only 46 per cent of those surveyed having received a reply after contacting a compnay through social media channels.
Other changes to customer experience likely to encourage consumers to spend more money with a brand include the adoption of a simple return policy (32 per cent) and a more personalised shopping experience (20 per cent).
Danny Rippon, Oracle's CRM business solutions director, said,“Our report has made one thing absolutely clear: getting customer experience right can help increase revenue and win customers away from competing organizations. By creating a consistent and connected experience across all points of customer contact – including the increasingly important social channel – businesses can clearly differentiate themselves and build priceless brand capital.” (11 Dec)
© 2012 - ESM: European Supermarket Magazine
