While three-quarters (75%) of organizations believe themselves to be customer-centric, only 30% of consumers agree – and, frustrated by organizations that don’t listen to their feedback or reward their loyalty, the majority of consumers are willing to increase their spend with an organization in return for a better experience (81%).
Yet, nearly a third of businesses (31%) say they face a challenge in keeping up with the rapidly evolving technology landscape and consumers’ digital expectations.
So finds a report by Capgemini – The Disconnected Customer: What digital customer experience leaders teach us about reconnecting with customers – which surveyed 3,300 consumers and 450 executives at the companies that serve them across Australia, China, France, Germany, India, the Netherlands, UK and US, and which provides a reality check for big businesses in their efforts to deliver better customer experiences through digital.
Not only is there a big disconnect between businesses and consumers on what represents customer centricity but also on whether the customer experience is improving. Capgemini used the industry standard Net Promoter ScoreSM (NPS®) model – an index ranging from minus 100 to plus 100 that measures the willingness of customers to recommend a company’s products or services – to gauge consumer satisfaction. 90% of companies believed that their organizations’ NPS® had increased by 5 points over the last three years, however, half of consumers agreed (54%).
Utilities and consumer products companies most out of sync
The report also highlights significant differences between industries. Internet services companies and their customers are almost in step and setting the bar for other organizations, while utilities and consumer products companies have a long way to go to meet consumer expectations.
Only three in ten of the 125 unique organizations identified in the study are matching their customers’ expectations. For the remaining 70%, the rewards for delivering a better experience are high as 8 in 10 consumers (81%)…