44 Facts that defines the Future of Customer Engagement

44 Facts that defines the Future of Customer Engagement : To achieve meaningful customer engagement, businesses must first integrate traditionally silo’d customer engagement functions—marketing, sales, and service—into a single platform.

The bottom line is that customers are in the driver’s seat now and many businesses that don’t have the technology and systems in place to support a holistic, omni-channel customer experience will be forced to take the backseat

• 73% of marketers view customer centricity as critical to the success of their business and role at the company. (The CMO Council, Mastering Adaptive Customer Engagement 2014)
• 70% of buying experiences are based on how the customer feels they are being treated. (McKinsey)
• A 2% increase in customer retention has the same effect as decreasing costs by 10%. (Leading on the Edge of Chaos, Emmet Murphy and Mark Murphy)
• 55% of consumers would pay more for a better customer experience. (Defaqto Research)
• Customers who are fully engaged represent 23% premium in terms of share of wallet, profitability, revenue, and relationship growth. (Gallup State of the American Consumer 2014)
• In the retail banking industry, customers who are fully engaged bring 37% more annual revenue to their primary bank than do customers who are actively disengaged. (Gallup State of the American Consumer 2014)
• Fully engaged policy owners purchase 22% more types of insurance products than actively disengaged policy owners. (Gallup State of the American Consumer 2014)
• Fully engaged hotel guests spend 46% more per year than actively disengaged hospitality industry guests spend. (Gallup State of the American Consumer 2014)
• 86% of buyers will pay more for a better customer experience, but only 1% of customers feel that vendors consistently meet their expectations. (Forbes)
• The majority of businesses are unable to support an omni-channel customer journey. (Forrester Wave Customer Service Solutions 2014)
• Only 12% can provide a seamless hand-off between channels. (Forrester Wave Customer Service Solutions 2014)
• According to a CEI Survey, 86% of buyers will pay more for a better customer experience. (Forbes)