British Study Finds Customer Experience is More Important than Great Products
LONDON – March 20, 2017 – Seventy-six percent of UK consumers say having a positive customer experience with a brand is more important than the product itself, according to the results of a new Harris Poll study of 1,000 UK adults, commissioned by Lithium Technologies. Consumers are willing to spend a quarter of their disposable income – £50 per month – with brands they love based on great customer experience. That’s over £2.5 billion up for grabs every month to brands who make their customers happy. Click to Tweet
British Consumers Value Experience Over Quality
Brands work relentlessly on product design and features, but today’s consumer increasingly values how a brand treats them as more important than the product they actually sell. The study found that 41 percent of consumers would rather buy an inferior product from a brand that they had a great experience with, and 68 percent would be willing to spend more on a product if it was from a brand they love.
But this works both ways, with 76 percent unlikely to ever use a brand again after only one bad experience. Worse, 57 percent would actively share their negative experience with friends and family, potentially leading even more customers to flee.
An infographic highlighting the study findings is here: https://www.lithium.com/pdfs/infographic/lithium_the_value_of_a_happy_customer-uk.pdf
And check out what people on the street had to say: https://vimeo.com/album/4467424
“Customers’ increasingly high expectations of brands have reached a critical point,” said Rob Tarkoff, president and CEO of Lithium Technologies. “When three quarters of consumers say they are unwilling to stick with a brand that has treated them badly even if they love the brand’s products, it’s time to sit up and take notice. Brands need to dig deeper to understand how they can create awesome experiences for their customers across platforms.”
What’s A Brand To Do?
Brands can no longer dictate terms. They must connect with the customer in the channel of their choice, which is increasingly digital. The study reveals that more than one in four (27 percent) consumers prefer to engage with a brand via its website/blog/social channels, and that 60 percent classify a brand ignoring them on social channels as a “bad experience.”
“This study shows that as consumers reach out on digital channels, they are highly sensitive to how and when brands respond to them,” said Tarkoff. “It’s a wakeup call for brands to realise that providing great experiences on digital is the surest path to attracting and retaining happy customers.”
Download the “Path to Happy Customers” whitepaper here: http://lith.tc/happiness
Lithium builds trusted relationships between the world’s best brands and their customers, helping people get answers and share their experiences. Customers in more than 34 countries rely on Lithium to help them connect, engage, and understand their total community. With more than 100 million monthly visits over all Lithium communities and 750 million online profiles scored by Klout, Lithium has one of the largest digital footprints in the world. Using that data and the company’s software, Lithium customers boost sales, reduce service costs, spark innovation, and build long-term brand loyalty and advocacy. To find out how Lithium can transform your business, and to share the experience enjoyed by 300 other leading brands around the world, visit www.lithium.com, join our community at community.lithium.com, or follow us on Twitter @LithiumTech. Lithium is a privately held company headquartered in San Francisco.
The Lithium® logo is a registered Service Mark of Lithium Technologies. All trademarks and product names are the property of their respective owners.
This survey was conducted online by Harris Poll on behalf of Lithium from December 28-30, 2016 among 1,006 adults ages 18 and older in the U.K. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated.
For complete survey methodology, including weighting variables, or general press enquiries, please contact Eddie McGraw, Lithium Technologies:
Tel: +1 (650) 430-1978
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