As technology keeps evolving and customer expectations increasing, the imperative for your brand is clear—evolve your customer experience. As we step into 2024, the trajectory of business success depends on the ability to comprehend and leverage the dynamics of digital customer interactions. Data and statistics become crucial tools in guiding you towards customer satisfaction, loyalty, and operational excellence.
The past year has witnessed a dynamic interplay between organizations and their customers. Now, as we embrace the potential of the coming year, brands find themselves in a prime position to orchestrate seamless experiences and amplify operational efficiency through strategic automation.
Here are 24 stats that promise to shape the digital customer experience landscape in 2024.
Brand Revenue and Reputation
Companies that earn $1 billion annually can expect to earn, on average, an additional $700 million within 3 years of investing in customer experience. (The Temkin Group)
72% of customers will share a positive experience with 6 or more people. (Esteban Kolsky)
13% of unhappy customers will share their experience with 15 or more connections. (Esteban Kolsky)
1 in 3 customers will leave a brand they love after just one bad experience, while 92% would completely abandon a company after two or three negative interactions. (PwC)
These compelling statistics underscore the connection between customer experience and financial success. Investing in customer experience isn't just a strategic move but a financial boon. Positive experiences, far from isolated moments, become shared narratives, while negative experiences can transform dissatisfied customers into potential storytellers of discontent. The repercussions for missteps are stark and a single poor experience has the potential to sever the strong ties customers have with a beloved brand. In this delicate balance, understanding the financial impact of CX and the ripple effect of positive and negative experiences becomes paramount for businesses navigating the intricate landscape of customer satisfaction and loyalty.
Crafting Personalized Experiences
71% of shoppers on average express some level of frustration when their experience is impersonal. (Segment)
49% of shoppers made impulse buys after receiving a personalized recommendation. (Invesp)
63% of millennials made an impulsive purchase based on a personalized recommendation. (Segment)
44% will become repeat buyers after personalized experiences. (Segment)
67% of customers prefer self-service over speaking to a company representative. (Nuance)
91% of customers would use an online knowledge base if it were available and tailored to their needs. (Coleman Parkes)
More than 80% of organizations will use some form of computer vision to analyze images and videos and drive personalized experiences. (Gartner)
Personalization will continue to be a powerful force, reshaping the dynamics between businesses and consumers in 2024. The demand for personalized interactions intensifies as shoppers express frustration with impersonal experiences, emphasizing the need for brands to tailor their approach. These personalized interactions not only elevate customer satisfaction but also drive impulse buys, cultivating repeat purchases and brand loyalty. Embracing self-service options and the integration of computer vision underscores the growing reliance on advanced technologies to understand and fulfill customer needs. Crafting personalized experiences is no longer an option but a strategic imperative for businesses aiming to thrive in 2024.
57% of customers won’t recommend a business with a poorly designed website on mobile. (Forbes)
50% of customers will stop visiting non mobile friendly websites, even if they like the brand. (Forbes)
84% of companies who claim to be customer-centric are now focusing on the mobile customer experience. (SuperOffice)
A poorly designed mobile website can be the Achilles' heel of a business. Customers won't recommend a business with a subpar mobile experience and may even cease visits to the website, even if they hold a favorable view of the brand. Customer-centric companies need to make this strategic shift and master the mobile experience to retain customer loyalty and secure positive recommendations.
Artificial Intelligence (AI)
60% of respondents stated that the most popular reason for using AI to improve customer experience is to predict customer behavior and needs. (Statista)
45% of organizations stated that they thought artificial intelligence solutions will reshape their customer experience in the next five years. (Forbes)
52% said a friendly and helpful approach made a great customer experience. (PwC)
63% say they’d share more information with a company that offers a great experience. (PwC)
AI's role in shaping customer experience will continue to reach new heights, with brands leveraging its capabilities to predict customer behavior and needs. As customers weigh in on what defines a great experience, the emphasis remains on friendliness and helpfulness, and customers will reciprocate a personalized and friendly approach by sharing more information with companies, further improving their customer experience. As businesses embrace AI, the focus will remain on fostering positive, information-sharing relationships, nurtured by optimal predictive precision.
Sustainability in Focus
32% of US shoppers switched brands because of their sustainability practices. (SAP Emarsys)
In 2024, the integration of sustainability into customer experience becomes paramount. Brands are compelled to align with like-minded consumers, and innovative technologies, such as intelligent re-commerce, emerge as catalysts for creating a circular revenue stream. The choices businesses make in embracing sustainability will influence customer loyalty and shape a more eco-conscious and resilient future. The 2024 customer is more environmentally conscious, preoccupied with the environment and social causes and will be loyal to brands that align with those values.
Evolution of Agent Processes
8 in 10 executives agree that human-led support will remain a critical element to employee experience (EX). (NTT Data)
Companies will continue their exploration of how AI will be implemented in their support across multiple use cases and we will see more and more live use cases, largely for agent assistance, as concerns of removing the human-in-the-loop to validate generated content continue. (Forbes)
We’ll see more AI applications automating and handling simple-to-resolve queries, offering deeply personalized interactives that surpass consumers’ expectations, and helping agents better understand each customer’s history and previous interactions with their brand. (Forbes)
45% of CX and contact center leaders said they’re concerned about AI exposing their company to security risks, 43% are worried about the technology spreading misinformation, and 41% are fearful of AI giving biased or inappropriate responses in CX and customer service use cases. Only 6% said they don’t have any fears. (CallMiner)
AI will drive a heightened emphasis on developing agents' critical thinking skills and fostering a culture of continuous learning in contact centers. (UNEVOC)
In 2024 the synergy between AI and human-led support takes center stage. Despite the rapid ascent of AI solutions, the spotlight remains on the pivotal role of human-led support in the overall customer experience and agents will continue to be a key component of emphatic personalized interactions. As businesses continue their route of integration of AI across their support systems, a balancing act unfolds—an interplay between technological innovation and the irreplaceable human element. With AI being positioned at the first steps of the customer support journey, there will be a necessity to focus on upskilling agents, fostering heightened critical thinking skills, and cultivating a culture of continuous learning within the team. In this journey, the goal is to achieve a harmonious blend of technology and human touch.
The stats unveiled here offer a clear roadmap for businesses in 2024. Financial success is tethered to customer experience, demanding strategic investments and personalization stands as a non-negotiable for customer satisfaction and loyalty. As AI evolves, human-led support remains integral, like sustainability, which will continue to influence customer’s brand loyalty and support.
As we step into the future, businesses poised for success are those aligning with these customer-centric trends.
At Otonomee, we understand the importance of staying on top of trends and making sure your brand excels in customer support in 2024. If you need assistance in creating effective customer centric strategies or want to learn more about how to improve your brand reputation through excellent customer service, we're here to help. Contact us today.
Want to read more? Visit Otonomee.com to learn about our outsourced customer contact services solutions, our approach and how we will support you in championing growth and scale.