Daily Management Review

PWC: People are ready to pay more for a positive customer experience


05/11/2018


Growth of the service sector’s share in the structure of global GDP has been confirmed by current consumer behavior. Although price and quality remain key factors, 73% of respondents indicate importance of client experience in making a decision to buy and maintain brand loyalty, according to a latest international research from PwC, which included 15 thousand people from 12 countries.



Alan Cleaver via flickr
Alan Cleaver via flickr
Customers are willing to pay 16% more for positive emotions when interacting with suppliers of goods and services, while 32% will break their relationship with a company after the first unpleasant incident (this number amounts to 49% in South America). In the US, 65% of consumers call positive experience a more effective tool than advertising. 52% of respondents are ready to pay money for faster and more efficient service, 43% - for additional services, 41% - for friendly attitude, highly valued personnel assistance and convenience of payments. Despite subjective importance of such factors as charity, global presence, automation, atmosphere, design and brand image (50-60% of consumers pay attention to them), they have less impact on readiness of consumers to pay more.

Satisfied customers are also more inclined to share personal data: although 43% of respondents will refuse to give personal information to companies to improve quality of service, 63% are ready to exchange privacy for a truly valuable service.

Consumers expect maximum attention to their needs in health care (78% of respondents), banking services (75%), restaurants and hotels (74% each). At the same time, only 49% of respondents from the United States were satisfied with their client experience in practice. The maximum gap between expectations and satisfaction is observed in the sphere of air transportation, healthcare, pharmaceutical industry, retail and banking services. Technologies and more qualified personnel can help companies fill this niche. At the same time, customers who appreciate fast and unhindered communication do not notice its technological support until they encounter a malfunction. Despite development of artificial intelligence technologies, 75% would prefer more communication with living people, and 59% regret the loss of the "human factor" in cooperation with business. 

source: pwc.com






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