Address the disconnect between what customers and employees want, says Narula
Nearly all Indian consumers (96%) said they were dissatisfied with their experiences as customers in 2021, costing businesses up to US$216 billion in India, according to the Qualtrics 2022 Global Consumer Trends report launched 9 Dec 2021.
A third of respondents to the survey said they have cut spending after a poor customer experience, said the US headquartered company.
Customer service support was the most common area consumers wanted businesses to improve, followed by prices and fees. Improving communications and online resources were also called out for improvement. Three-quarters of respondents said businesses need to care more about them (74%) and get better at listening to their feedback (72%).
Some 81% of respondents said they would spend more with a company if they were treated better. The value of experience is further highlighted by additional research from the Qualtrics XM Institute, which found consumers in India are twice as likely to re-purchase, trust and recommend a company after a positive customer experience. A third of respondents (34%) said they have cut spending after a poor customer experience.
Employee experience will be important in attracting, retaining and developing talent next year, with two-thirds of respondents (63%) in India saying they intend to stay in their current job through 2022, according to Qualtrics research. With a third of employees on the move, and 64% of employers forecasting an increase in payrolls, according to the ManpowerGroup Employment Outlook survey, businesses will need to differentiate themselves in an increasingly competitive job market.
“As organisations across India accelerate their digital capabilities, addressing the disconnect between what customers and employees want and what’s actually being delivered must be prioritised. Experience is now critical to every function and department, and those companies that rapidly embark on journeys to transform the experiences they deliver in order to meet current and evolving needs are set to win an outsized share of the market,” Qualtrics’ Country Manager for India Navneet Narula said in a release on 9 Dec 2021.
By continually listening and taking action on what matters to customers and employees, businesses can address the macroeconomic challenges they’re currently facing, such as talent shortages, supply chain disruptions, and rising costs, in a sustainable and meaningful way.
“As we look ahead to 2022 in India, Qualtrics is focused on working with organisations of all sizes, from start-ups to large enterprises, to help accelerate and optimise their adoption of digital technologies, equipping them with the tools, services and support helping deliver world-class customer, employee, brand and product experiences,” said Narula.
Qualtrics, the leader and creator of the Experience Management (XM) category, is changing the way organizations manage and improve the four core experiences of business-customer, employee, product and brand.
Over 13,500 organizations around the world use Qualtrics to listen, understand and take action on experience data (X-data™), the beliefs, emotions and intentions that tell you why things are happening, and what to do about it.
The Qualtrics XM Platform™ is a system of action that helps businesses attract customers who stay longer and buy more, engage employees who build a positive culture, develop breakthrough products people love and build a brand people are passionate about. fiinews.com
