New research from the Qualtrics XM Institute in Provo finds that globally, organizations are putting $3.7 trillion annually at risk due to bad customer experiences, an increase of approximately $600 billion (19 percent) compared to projections from last year.
Bad customer experiences lead directly to lost revenue, and just one negative interaction can result in losing a customer and their potential spending in the future, the study found. Consumers say they have very negative experiences with organizations 14 percent of the time across 20 different industries, including fast food, parcel delivery services, auto dealers and airlines. And after a negative experience, consumers reduce or stop spending with that brand more than half the time (51 percent of negative experiences). That figure jumps to over 60 percent for parcel delivery providers and Please log in to see the rest of this story.
