I’m here at the Broadmoor in Colorado Springs with 800 customers, partners, analysts, press and employees for our annual user conference. We’ve come together to talk about and share insights around customer experience. I’ve had hundreds of conversations over the last few days and one thing has become increasingly clear— even with the financial markets melting down companies continue to invest in customer care. This is good news for consumers.
At the conference we released the findings of our 3rd annual Customer Experience Impact Report conducted by Harris Interactive. The report reinforces what I am seeing and hearing here in Colorado. Bad customer experiences will drive customers away and make new customer acquisitions more difficult. In fact the survey found that 87 percent of consumers will discontinue business with a company after a negative customer experience, an increase of 7 percentage points from 2007 and up 19 percentage points from 2006. In tough economic times, great customer experiences will ensure customer loyalty and retention.
I am pleased to report our clients “get it” and the end consumer will benefit. Even as the economy slows, the customer is still king.
Customer has always been king and all will be lost for firms who have lose sight of that especially in uncertain economic times globally. Our firm is a consulting business and we help our clients with CRM Planning, Implementation, & Optimization efforts to help achieve their busines outcomes. Since October, every one of my clients have invested heavily in improving their customer experiences, realizing that it will be critical to their continued success. They’ve made the right choice, and they truly “get it”. These are the organizations that will come out ahead post melt down. Thanks for your blog entries, I’ve been an avid follower.