Interesting CX Data Tidbits From 2012

CXDataBits100hAs you’ve probably noticed, our research is full of rich data from companies and consumers. So I looked through my posts from this year and extracted a number of datapoints that you might find interesting…

Value/ROI of Customer Experience:

Consumers are almost 7x more likely to follow advice from a health plan after having satisfactory interactions.
Compared with NPS detractors, promoters are more than 2x as likely to recommend retailers airlines, more than 3x as likely to recommend insurers and health pans, and 4x as likely to recommend banks
Consumers that are satisfied with customer service interactions are more than 4x as likely to repurchase than those who are dissatisfied.
The correlation between CX and NPS for tech vendors is 0.77, which is higher than the correlation between product satisfaction and NPS.
A modest increase in customer experience can result in a gain over three years of up to $382 million for US companies and up to £263 million for UK firms.
When companies responded very poorly after a bad experience, 47% of consumers stopped spending completely with the company. When they had a very good response, only 6% stopped spending and 37% increased their spending.

Elements of CX Leadership:

Companies with strong CX metrics programs are 5x as likely to be CX leaders compared with those who have weaker CX metrics programs
Customer-centric culture is a key goal for 77% of CX leaders and only 34% of other firms
46% of VoC programs are in the two earliest stages of VoC maturity
HR professionals are more than 2.5x as likely as CX pros to say that HR provides considerable help for CX efforts.
75% of HR professionals view employee engagement as very important and 61% believe they are doing a good job in this area.
72% of companies think predictive analytics and open-ended verbatims will become more important sources of customer insight, compared with only 30% who view that way about multiple choice survey questions.
Only 28% pf VoC programs have reached the top two stages of VoC maturity.
Making the company’s culture more customer-centric is more than 2x as important for CX leaders than for CX laggards.
35% of large companies are in the lowest stage of CX maturity.
74% of companies think that customer experience design is important, but only 35% believe that they are good at it.
CX leaders have more than a 16 percentage point advantage over CX laggards in consumers’ willingness to buy more, their reluctance to switch business away, and their likelihood to recommend.
The companies that are good or excellent at customer experience has increased from 16% in 2011 to 19% in 2012.
46% of companies plan to increase spending on CX in 2012 compared with only 8% that expect to decrease spending, and text analytics is the area with the most spending momentum
40% of U.S. employees at companies with 1,000+ employees are moderately or highly engaged compared with 59% at companies with 10 or fewer employees.
Highly engaged employees are 5.8x more committed to helping their companies succeed and 4.7x more likely to recommend that someone apply for a job at their company.
Companies with good customer experience have 2.5x more engaged employees than companies with poor customer experience.

The CX Profession:

28% of large companies have 20+ employees focused on CX
There are 87,000 CX professionals in the U.S. and almost 14,000 in Canada.
99% of CX professionals think that customer experience is a great profession to be in and 89% are satisfied with their current position, but only 63% are happy with their opportunities for advancement

Social Media Adoption:

Consumers are more than 50% more likely to use social media like Facebook and Twitter when purchasing cell phones than they are for selecting health plans
A quarter of consumers read or update Facebook several times per day and more than half of consumers younger than 45 use Facebook daily.
77% of U.S. consumers use Facebook daily, 13% use Twitter daily, and 5% use LinkedIn daily.
Consumers who earn $100K or more are 2.5X as likely to tweet about a bad experience, compared with those who earn less than $50K.

General Consumer Behavior:

52% of U.S. consumers prefer good service over low prices for banks and computers, but only 25% prefer good service for rental cars and groceries.
Healthy people are more than twice as likely to be happy than unhealthy people.
89% of healthy people are happy, Happy people but only 41% of unhealthy people
Apple Mac users are wealthier, younger, and enjoy watching soccer more than Dell and HP users
Happy people are 50% more likely than unhappy people to do something that’s good for their company, but unexpected of them
31% of U.S. consumers use mobile apps daily.
U.S. consumers go on the Internet 5.9 hours per day and watch TV 3.9 hours per day.
African-Americans are the most avid fans of football (67%), Hispanics are the most avid fans of baseball (38%), Caucasians are the most avid fans of NASCAR (20%), and Asians are the most avid fans of golf (18%).
Web self service is the preferred channel for checking a balance (60%) and updating an address (51%), while talking on the phone is the favorite for investigating a mistaken bill (58%) and resolving a technical issue (46%).

The bottom line: The numbers show a lot of CX work ahead of us

About Bruce Temkin
I am a customer experience transformist, helping large organizations improve business results by changing how they deal with customers. As part of this focus, I examine strategy, marketing, interaction design, customer service, and leadership practices. I am also a fanatical student of business, so this blog provides an outlet for sharing insights from my ongoing educational journey. Simply put, I am passionate about spotting emerging best practices and helping companies master them. And, as many people know, I love to speak about these topics in almost any forum. My “title” is Managing Partner of the Temkin Group, a customer experience research and consulting firm that helps organizations become more customer-centric. Our goal is simple: accelerate the path to delighting customers. I am also the co-founder and chair of the Customer Experience Professionals Association (CXPA.org), a non-profit organization dedicated to the success of CX professionals.

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