No industry is immune to digital transformation or competitive disruption, and every business is on the hook to deliver brilliant customer experiences (CX) to every customer, at every touchpoint. Businesses are integrating digital and personalization into their culture, processes, technologies, and customer-facing experiences. That’s because consumers (B2C) and business buyers (B2B) alike want to find companies that are easy to do business with. They’re looking for self-service, and consistent and personalized experiences at every stage of the customer lifecycle.
When it comes to the CX equation, just how important is it to have intelligent data? Consider these 20 stats from retail, banking, insurance, and healthcare industries.
- 75% of retail consumers expect a consistent experience no matter where they engage with a retail—whether it’s online, in person, on a mobile device, or via social media—and half are likely to switch brands if they feel a retailer cannot accurately anticipate their needs
- 80% of shoppers have used a mobile phone inside of a physical store, either to look up product reviews, compare prices, or find alternative store locations
- Statistics show that 40% of users will go to a competitor after a bad mobile experience—yet an alarming 84% have experienced difficulty completing a mobile transaction
- 33% of consumers who chose to end their relationship with a company last year did so because the experience wasn’t personalized enough
- By 2022, two-thirds of all customer experience projects will make use of IT, up from 50 percent in 2017
- Only 23% of customers globally believe their bank is meeting their expectations
- Just 61% of female bank customers stay with their bank for more than five years, as on the whole they are less satisfied than their male counterparts
- 72% of all bank interactions are digital, with Millennials leading the way
- 73% of people would choose to change their bank if they perceived their bank to be “exploiting” their personal data for commercial purposes
- 70% of individuals are not clear on the types of data their bank collects
- 45% of insurers say that changing customer expectations is the primary business driver triggering investments in new technologies
- Only 22% of insurers have already launched personalized, real-time digital, or mobile services
- 55% of customers don’t trust their insurance company to collect and use “alternate data” — like driving behavior, or interactions on social media
- Prospects are 20% more likely to purchase a life policy as the underwriting and application process gets closer to real time
- 79% of consumers worldwide say they will use a digital channel for insurance interactions over the next few years
- About 3 out of 4 patients say they would use a secure online method to access their medical histories and share information with their doctor
- An alarming 81% of consumers are unsatisfied with their healthcare experience, and the happiest consumers are those who interact with the system the least
- 60% of surveyed consumers say they are willing to share personal health data (generated from wearable devices) with their doctor to improve their health
- Younger consumers—Gen Z and millennials—are the most dissatisfied with the quality of traditional healthcare services
- 32% of individuals who went to a doctor in the past 12 months reported that they experienced a gap in information exchange
Stats like these are eye opening, and they are compelling CX leaders and marketers to rethink how and where they leverage data. Informatica is bringing together the brightest minds in the industry to have a conversation about how fundamental CX has become for every business across every industry. We’ll discuss how data is the foundation and share stories of how leaders are capitalizing on intelligent, actionable insights from all data to drive CX programs. Join Informatica and thought leaders—like CX Futurist Blake Morgan and David Raab, the founder of the Customer Data Platform Institute—in New York City on December 3rd. We invite you to take part in the conversation, share your stories, and get inspired to make every interaction count. Click here to learn more and reserve your spot today.