Two-thirds of brands fall short on customer experience

Sixty-five percent of consumers in North America believe the companies they do business with need to improve their customer experience (CX), such as by resolving bugs and accessibility issues on digital platforms.

That insight came from a new study from fintech company Broadridge Financial Solutions – and marks an increase from 59% last year.

Why it matters

The pandemic caused a massive shift in the way consumers shop and engage with brands, but marketers have failed to fully adapt in response, and risk losing customers as a result. To retain consumer loyalty, marketers must streamline the online customer experience, nixing unnecessary content and inaccessible language, and making digital transactions smooth and interactive.

Takeaways

Based on a survey of 3,025 consumers in the US and Canada, Broadridge Financial Solutions’ study found:

• Seventy-seven percent of surveyed customers reported a willingness to spend more money on transactions with businesses that provide better CX. Customers want online interactions to be catered towards their interests based on their personal data.
• In fact, around half of millennials and Gen Z respondents (55% and 45% respectively) are willing to share their personal data in exchange for improved CX.
• Seventy-one percent of consumers that have not gone paperless would do so if CX improved.
• Consumers want “engaging digital interactions.” This means marketers should invest in online tools such as predictive analytics and customised communication, interactive digital documents, simple artificial intelligence, and QR codes that can be easily scanned using a mobile phone.

The big idea

“As consumers increasingly turn to digital, expectations continue to increase – especially when it comes to navigating omnichannel, preference management, personalization and data security.” – Matt Swain, managing director for communications and customer experience consulting services, Broadridge Financial Solutions.

Sourced from Broadridge Financial Solutions