Primary Intelligence releases new research on B2B state of customer experience for 2016
New Research Highlights Accelerated Pace of Customer Experience Programs
DRAPER, Utah (July 19, 2016) – A new research report from Primary Intelligence finds that the cadence of Customer Experience (CX) data collection has increased between 2015 and 2016, with nearly 90 percent of organizations collecting customer information on an ongoing basis in 2016 compared with approximately 80 percent in 2015. Just 10 percent of organizations are collecting customer information on a quarterly basis and no firms from the research are gathering feedback from customers on an annual schedule.
“With the pace of product and market changes accelerating, ongoing feedback from customers is an essential best practice,” states report author Carolyn Galvin, Director of Partnership Marketing at Primary Intelligence. “By gathering the information on a consistent basis, firms can quickly determine if the feedback is an isolated incident or if adjustments need to be made to one or several components of an offering, such as product, marketing outreach, support, or pricing.”
The new report, entitled “The State of Customer Experience: How Organizations Are Leveraging Customer Experience Programs to Build Customer Loyalty and Grow Long-term Revenue,” found that nearly all performance metrics are higher for firms collecting ongoing customer feedback compared with those that gather quarterly input. Specific examples include:
- Revenue growth is 2x higher for firms collecting ongoing customer feedback compared with organizations collecting feedback quarterly.
- Firms collecting ongoing CX feedback have higher rates of profitability compared to firms collecting feedback quarterly.
- Ongoing customer feedback leads to a deeper knowledge of the types of products and services customers purchase.
- Better and more actionable customer intelligence for internal teams is a direct result of continual customer feedback.
Within the report, Primary Intelligence highlights key strategies organizations can adopt to improve and leverage their Customer Experience programs, including:
- Ensure there’s bi-directional feedback between the organization and customers
- Create small wins to build momentum for CX programs
- Gather and share success stories and best practices from outside the firm’s industry
- Use metrics to demonstrate ROI, helping to fund CX programs over the long term
- Gain organizational alignment around CX initiatives
More information about the report can be found in our eBook.
About Primary Intelligence
Primary Intelligence delivers outcomes for B2B marketing, sales, and product leaders, guiding clients on ways to win more deals and retain more revenue through Win Loss Analysis and Customer Experience Analysis. Primary Intelligence speaks directly to buyers and sellers to uncover insights, root causes, and the path to improvement. Expert consultants initiate transformation in Fortune 500 companies, including 6 of the Fortune 20.
Primary Intelligence enables hundreds of clients across more than 30 industries to hear the voice of their buyers. It’s all possible thanks to our TruVoice software, proven methodologies, and exceptional people.