The Importance of Customer Experience Statistics (Latest)

Customer experience profoundly influences consumer spending, with bad experiences putting a colossal $3.1 trillion in annual global consumer spending in jeopardy

Over 60% of brand loyalty is deeply interconnected with the customer experience provided. Notably, customers who have positive experiences are likely to spend up to 140% more than those with negative experiences. 

To offer you more insight, let me share the most crucial customer experience statistics you should be aware of right away. 🌟📈

Customer Experience Statistics: The Key Data

  • Brands that provide a positive customer experience earn 5.7X more revenue than competitors who fall short.
  • Bad experiences put $3.1 trillion in annual global consumer spending at risk.
  • Positive experience customers spend up to 140% more than negative experience customers.
  • Customer-centric businesses are 60% more profitable than non-customer-centric businesses.
  • More than 60% of brand loyalty can be attributed to the customer experience.
  • 64% of customers will switch to a competitor after one bad experience.
  • 73% of consumers place customer experience above price when making a purchase decision.
  • 92% of people would stop doing business with a company after two or three bad experiences.
  • Companies that make an emotional connection with their customers outperform their competitors’ sales growth by 85%.
  • 72% of customers will tell 6 or more people about a positive experience.

Sources: (Linkedin, Xm Institute, Deloitte, Super Office, Pr Newswire, Business Wire, Pwc, 8a-Forbes, 9a-Annex Cloud, Linkedin.)

Bad Customer Experience Statistics: The Key Data

Poor customer service is a costly affair, costing U.S. businesses a whopping $62 billion per year

  • On average, a poor customer experience can result in a 3% loss of revenue.
  • Poor customer service costs businesses $62 billion per year in the United States.
  • Companies that prioritize customer experience have 1.6X the customer lifetime value of those that do not.
  • Experience-driven businesses grew revenue 1.4X faster than other businesses in the same year.
  • 96% of customers would abandon a company if they had a bad experience.
  • 65% of customers said that a bad experience made them switch to a different brand.
  • 78% of consumers have not made a purchase or abandoned a transaction due to poor customer service experiences. 
  • 57% millennials will abandon your brand after one bad experience
  • 32% of all customers would stop doing business with a brand they loved after one bad experience.
  • 33% of US consumers admit to using social media at least once to complain about a bad experience with a brand.

Sources: (The Cxlead, Vonage, Survey Sparrow, Nice, Hyken, Khoros, Call Experts, Inspira Marketing, PwC, HubSpot.)

B2B Customer Experience Statistics

  • 80% of B2B business purchases are influenced by customer experience, while 20% are influenced by price or product.
  • At least 80% of B2B customers expect a comparable or better experience than B2C. than B2C.
  • B2B companies that provide a personalized eCommerce experience outsell their competitors by 30%.
  • Only 40% of B2B businesses prioritize customer experience.
  • B2B companies have a customer experience score of less than 50% on average. ///
  • 86% of buyers are willing to pay more for excellent customer service.
  • 86 percent of B2B customers expect companies to be well-informed about their personal information during service interactions.
  • B2B mobile app ordering has increased 250% since before the pandemic.
  • 45% of B2B buyers want features like a personalized content portal
  • 70% of B2B decision-makers are willing to make new purchases worth more than $50,000 via self-service or online channels.

Sources: (Zippia, SuperOffice, Tada, Gartner, McKinsey & Company, Magenest LLC, SmartKarrot.)

Learn more: Customer Service Data