Chart of the day: customers expect more personalized experiences according to businesses and that's why they are prioritising improving CX
Customer Experience (CX) improvements are being led by customers wanting more personalized experiences according to new research. Customer expectations are essentially driving CX prioritisation.
7 in 10 businesses said they were improving CX because customers expect more personalization, whilst 6 in 10 simply said they want to improve customer loyalty, which makes sense, we all want loyal customers!
I think they are right though, customers expect far more personalization and many businesses are still not personalizing the experience for customers. It's great to see that businesses realise that customers have a desire for personalized experiences, but now they are expecting this and therefore it's important that businesses start to prioritize this and act fast.
You'll notice the least concern was competitors delivering a better experience, there is less focus on competitors and more on providing a more unique experience, rather than say, copying competitors.
Just how are marketers aiming to make those CX improvements?
According to this research, that answer is that they are looking to increase engagement, increase loyalty and increase conversions.
The focus is increasingly on making improvements to personalize an experience to increase engagement and loyalty, as well as conversions, which can be increased through personalization. It's a shame to see less than half of marketers choosing gaining customer insights as being important to increasing CX, we have a great guide on how to conduct an effective customer satisfaction survey and another one on how to conduct persona research for those interested in gaining insights on customers to increase conversions, engagement and loyalty.
In the same study, 50% of marketers said they were focusing heavily on their personalization efforts and 47.5% said they were also going to be developing or redefining their content marketing strategy to make better use of their content on social media.