Your customers are at risk. A recent White House Office of Consumer Affairs study stated that three out of five consumers are willing to try a new brand or company for a better service experience. Today’s customers are not willing to stay satisfied in the same way as just a few years ago. They are more fluent in search technologies and come to each customer experience more informed with more strongly held expectations for the buying process and outcome.
Most organizations are slow to acknowledge and adapt to the new “black”—and customers are not waiting around for organizations to catch up. Customers are forming their own value expectations independent of the outdated, one-size-fits-all value propositions of lagging organizations. More and more customers are forming expectations that increasingly reflect their desire for a better total customer experience. If organizations are not willing to do something about it, their customers are not only at risk, they are gone.
A Satisfied Customer Is Not a Loyal Customer
A recent study by Lee Research compared organizations’ customer satisfaction scores with direct customer interviews. Only 8% of customers claimed they were strongly satisfied with their experience, and these were customers of organizations that claim 80% of their customers are strongly satisfied!
Wilson Learning’s own research shows that almost 80% of an organization’s customer base falls into a Zone of Indifference.
We have found that customers who fall into the zone:
- Are no more likely to buy again than a dissatisfied customer
- Tend not to express their dissatisfaction, meaning there is not an opportunity for recovery
- Are relatively easy for a competitor to steal away with minimal effort
- Are not a positive source of references and referrals
Bottom line, if 80% of customers are neither loyal nor dissatisfied, there is a greater risk of customer defection from the largest segment of your customer population.