New statistics have shed light on the full extent of brand growth resulting from excellent customer experience. Credico is quick to point out the advantages of offering quality in-person experiences in 2021.
Brands are no stranger to positive brand experiences boosting customer happiness. Still, a Walker study is now identifying customer experience as the most vital brand differentiator, surpassing both price and product in importance.
Research from PWC demonstrated that 86 percent of customers are willing to pay more for a great customer experience. PWC found that the higher the value of the item, the more the customer was willing to pay to receive a good experience. Luxury and indulgent services were the most influenced by customer experience, with customers accepting a mark-up as high as 18 percent through simply receiving an excellent customer experience. Credico is unsurprised by the findings that 49 percent of buyers made impulse purchases after receiving a more personalized service.
“Not only does the research spotlight just how damaging poor customer experiences can be on a brand, but it also reveals that consumers are actively seeking out opportunities to engage with a brand and its products in person,” details a spokesperson for Credico. “This is a clear warning for companies to step up their marketing strategies and produce more engaging, live experiences, through which they can form meaningful, long term relationships with their customers.”
Credico is pleased the research from both Walker and PWC reinforces the long-assumed fact that stellar service drives brand loyalty. The outsourced sales organization is now prompting retailers to plan more opportunities for face-to-face customer service through product demonstrations and well-organized, engaging in-store promotions. By alerting more companies to the research, Credico is optimistic that brands will invest in immersive events and enhanced in-person experiences to deliver what customers are after in 2021.