Imagine a baby boomer, a Gen X’er, a Millennial, and a Gen Z’er walk into a bar. Sounds like the start of a joke, right? But think about it. How did they each choose the bar? Are they at the same place? What did they order? And if you were to ask them about their experience afterward, how would they answer? Their responses would be vastly different. In today’s digital age, never before have consumer journeys and expectations been so diverse.
I’m excited to share that I’ve partnered with Oracle on a research study that takes a cross-generational look at customer preferences, behaviors, and expectations.
We’ve included plenty of stats and insights to help you understand this journey and build appropriate strategies to accommodate your varying customer needs. During our research, we found that one-third of respondents will actually walk away from a brand after having a disappointing interaction. If just one disruptive experience can impact a company’s bottom line, imagine what consistently poor CX could bode over time! We know you don’t want that to happen.
Here are 3 major findings that I want you to share with you from this comprehensive research:
8/10 Gen Z’ers Are Willing to Give Brands Another ChanceExceptional CX is memorable and good news travels fast. Consumers are more likely to share positive interactions with companies than negative ones. Gen Z tends to do more talking with their friends, family, and colleagues about an experience. Good CX prevails and has a significant business impact.
Consumers are attracted to companies who honor them. As I shared in the many case studies in my latest book, Would You Do That To Your Mother? there are tons of companies that reinvent their operations to meet customer goals.
88% of Consumers Trust Shopping Recommendations from People They Know
Consumers will ask people they know about their experiences with certain brands and/or products. They will also check out customer reviews, as it feels like insider scoop—from the fit of an item to the service they received in-store.
Additionally, company employees feel more trustworthy to us in person. Making a human connection with a store employees lets shoppers determine whether they can relate to and agree with their opinion.
Don’t underestimate the importance of the human element in the consumer journey!
15% of Consumers Expect Personalized Experiences
Consumers are ready and willing to make personalization a reality, but they aren’t confident that brands will actually follow through. Consumers appreciate emails and product recommendations tailored to their browsing history. When a company “knows” them, life is easier and more convenient. Just think about the success of Netflix and its suggested titles to watch based on your history, Amazon and its listing of products similar to those that you’ve previously ordered, and Spotify’s playlist curation based on songs you’ve listened to.
— Oracle (@Oracle) August 30, 2019
I strongly encourage you to download this report for further insights that you can use to your advantage while thinking through your company’s journey map and experience. Invest in your CX, and your business will be rewarded with customer accolades and loyalty!