Articles

27.10.2010 Consumers pay more for great experience

Consumers will pay more for a great customer experience, according toa recent study from RightNow Technologies. Findings from “Customer Experience Report North America” indicate 55% of North American consumers have become a customer of a company because of their reputation for great customer service, and 40% began purchasing from a competitive brand simply because of their reputation for great customer service.

In addition, 85% of consumers say they are willing to pay more than the standard price for a product if a great customer experience came with it. Seventy-six percent would pay 5% more, 55% would pay 10% more, 27% would pay 15% more, 18% would pay 20% more, and 10% would pay a hefty 25% premium to receive a great customer experience. These numbers stack up to make quite an impact. For example, RightNow estimates the US airline industry could make an additional $10.6 billion in revenue this year if they could guarantee a superior customer experience. That is more than five times the predicted deficit for the airline industry this year.

B.L. 27.10.2010