According to ICMI research, 85% of surveyed consumers in the U.S. said that they would pay more than the standard price of a good or service as long as they receive outstanding service during the transaction.
What’s more, the research breaks down the numbers and shows exactly how much more they’d be willing to spend based on a superior customer experience:
76% would pay 5% or more
55% would pay 10% percent or more
27% would pay 15 percent or more
10% would pay 25 percent or more
ICMI research found that the contact center – a company’s critical customer relationship area – is even more valuable than previously thought. Increased resources in contact centers can help build brand loyalty and have a positive impact on revenue.
Consider the U.K., for example. According to recent research from NewVoiceMedia, half of consumers in the U.K. take their business elsewhere due to inadequate service, and of that figure, 92% have switched companies at least once or twice in the past year.
Nearly 50% of survey respondents are intimidated at the thought of calling a company, fearing they’d be kept on hold or placed in a waiting queue. What’s more, 27% would tell friends about their poor customer experiences, and 19% said they’d post negative company reviews online.
“Customers have a stronger influence on a business’s success than ever before and it’s surprising how many organizations still aren’t getting it right,” Jonathan Gale, CEO, NewVoiceMedia, said in a press release. “Customer experience is a key differentiator. By doing it well, organizations can drive the customer acquisition, retention, and efficiency that make leading companies successful.”
