A positive customer experience is something that every company strives for on a daily basis; experience is the main driver for loyalty. Happy customers are loyal customers and loyal customers are brand advocates. Oracle released a global survey of 1,300 senior-level executives from 18 countries that yielded new insights on succeeding in the ‘customer service era.’ Key findings from the survey included:
- Businesses can lose 20% of revenue from poor customer experiences yet many are stuck in an execution chasm.
- On average, businesses estimate they will increase spending on customer experience technology by 18% in the next two years.
- 91% wish to be considered a customer experience leader in their industry yet 37% are just getting started with a formal customer experience initiative.
- The report highlights the need for new approaches to cross the execution chasm and succeed in customer experience.
If your company is not part of the 18% who plan to expand their budget in the next two years, no need to worry. There are cost effective ways to keep your customer loyalty and happiness levels high without breaking the bank. Using gift cards as incentives or rewards is a great way to show your customers that you care and purchasing them through GiftCard Partners allows you to save big at the same time. Sending small denomination gift cards to
CVS/pharmacy to customers who are brand advocates and refer someone to your company, brand or product. No one wants to think of customers having a bad experience but it does happen. Sending gift cards to
The Cheesecake Factory as an ‘apology’ for a negative experience can be the difference between losing a customer and turning this negative experience into a loyal customer.
Check out the complete research results from Oracle here.
