“Customer Experience is The Path To Profit” 2010 Strativity Study Demonstrates

Posted On September 13, 2010
By Lacey Stephen

Even in a tough economy, customers reward exceptional customer experiences

Rochelle Park, NJ September 13, 2010

Strativity Group announces today the release of the 2010 Consumer Experience Study. The study unveils that consumers pay careful attention to the customer experience they receive and reward vendors accordingly.

“Consumers clearly stated that despite the economic environment, superior customer experiences deliver superior financial results. Consumers reward companies do not skim them using the economic crisis as an excuse. Companies that are struggling to attract and retain customers, should focus on examining their customer experience“ said Lior Arussy, Strativity President.

Key Findings:

Financial Rewards of Superior Customer Experience

  • 73% of consumers stated that they would expand their purchases with a vendor by 10% or more if the customer experience was superior
  • 55% of consumers agreed that they would stay with a vendor for 10 years or more as long as the experience was superior
  • 58% said they would recommend companies that deliver superior customer experiences to others
  • 44% of consumers would be willing to pay a premium price of 5% or more for a superior customer experience

Drivers of Superior Customer Experience

  • Customer Experience Attributes
    o Product and services deliver great value
    o All interactions are easy
    o Fair and easy payment process
    o Visit to retail stores are enjoyable
  • Customer Experience Attitudes
    o Employees do their jobs with pride
    o Employees use common sense and discretion in their work
    o Employees are knowledgeable and empowered
    o Employees deliver service with passion

Study Overview

  • 930 consumers from North America
  • Study was a web-based questionnaire following the customer strategy phases
  • survey was conducted from May 1, 2009 through June 30, 2009
  • The study was conducted in partnership with Customer Service Experts, Inc., a leading customer experience firm

To receive a complimentary copy of the study, please e-mail us at CustomerExperience@Materialplus.io.

The study results will be discussed in the upcoming CEM Certification events in Scottsdale, AZ, October 4-6, 2010 and London November 15-16, 2010 www.CEMCertification.com

About Strativity Group, Inc.

At Strativity Group, Inc. we do more than customer experience research and strategic planning. We take a strong, multi-disciplinary approach to customer experience strategy design and implementation. Through proprietary research tools, strategic analysis, business planning and customer experience innovation design, we help our clients operationalize profitable customer experience strategies. We measure our success by a single method: execution.

Strativity Group, Inc. works with both Global 2000 companies as well as emerging businesses around the world. Our clients include Nokia, Computer Associates, SAP, American Management Association, Seagate Technology, Honeywell, Siemens, Dimension Data, FedEx, CATIC, Circle K, University of Pennsylvania, The Fund, Capital One, Jacada, Wyeth, Sage, Herbalife, Akibia, National, Lockheed Martin, Crown Plaza Hotels & Resorts and Nordea.

About Customer Service Experts

Customer Service Experts, Inc. (CSE) was created with a vision to improve the customer experience by focusing on the internal team and their direct link to customer satisfaction. CSE’s approach helps clients improve service from “the inside out” with a primary focus on executive leadership providing the proper support and tools for the frontline employees and managers to succeed. CSE’s strategies have benefited clients with both B2C and B2B engagements in a variety of industries including: retail, airport, hospitality, healthcare, education, government, financial, service and food and beverage.