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New Survey Reveals 64 Percent of Consumers Have Jumped to a Competitor Following a Poor Customer Experience

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Verint State of Digital Customer Experience Research Underscores the Need for Speed and Ease in Digital-First Customer Service

ORLANDO, Fla., June 15, 2022--(BUSINESS WIRE)--Engage 2022 — Consumers want in-the-moment responses and effortless resolution when engaging with brands and deem these essential elements of a good customer experience, according to new research based on a survey of more than 2,000 US consumers aged 18 to 75.

Moreover, the success or failure of these digital experiences can determine whether that customer stays or defects to another brand. Seventy-eight percent of consumers say they are more likely to be a repeat customer if they had an amazing customer experience on a digital channel, while 64 percent have jumped to a competitor following a poor customer experience.

More than two-thirds of consumers (69%) ranked brands responding quickly as the most important, or second-most important aspect of a good customer experience, with 55 percent of consumers agreeing that "effortless" customer experiences are also vital.

These findings and more are contained in a new special report, The 2022 State of Digital Customer Experience from Verint® (NASDAQ: VRNT), the Customer Engagement Company, which highlights new heightened consumer preferences and expectations for digital-first brand engagement following two years of pandemic lockdowns.

The research also shows consumers’ preference for using social and private messaging channels to interact with brands. Consumers under 45 are more than twice as likely as older consumers to have engaged with a brand through public social media channels, and 56 percent of those under 45 prefer digital channels. Likewise, contacting a company via private messaging channels is most common among those under the age of 45, with 50 percent of consumers in that demographic having used private messaging apps such as SMS texting, Facebook Messenger or WhatsApp to engage with a brand.

The research also contains insights from companies on their plans and key priorities for digital-first engagement in 2022. Thirty-seven percent said messaging channels will have a significant technological impact on their customer experience strategy this year. Notably, Facebook Messenger is the digital messaging channel anticipated to see the greatest customer conversation growth.

Customer Patience Wearing Thin

The survey reveals several sticking points and struggles with customer service efforts. Consumers typically make multiple attempts to get their questions answered and find having to wait on hold much more frustrating when a company does not understand their interests and "mass-markets" to them. A third of consumers surveyed ranked needing to make multiple attempts to get a simple question answered as the most frustrating aspect of a poor customer experience. The most damaging characteristic to brand loyalty is the amount of effort needed to get a resolution (34%), followed by long hold times (25%) and bad bot experiences (22%).

"Customer patience is wearing thin," says Verint’s Heather Richards, vice president, GTM strategy, digital-first engagement. "Although at one-time, hearing ‘We’re experiencing a high volume of calls,’ invoked a feeling of sympathy, that feeling has quickly been replaced by frustration. Brands have had more than two years to rectify issues relating to high volumes of inbound calls, messages, and queries. Customers now expect swift, effortless engagement on their channel of choice."

Richards continues, "Verint is proud to be leading with innovation that assists brands in delivering the experiences customers expect, in their channel of choice. Self-service is delivered through conversational AI and contextual knowledge. Assisted interactions can be optimized through in-channel automation, and workforce orchestration provides the historical context needed to seamlessly deal with cross-channel customer journeys. Verint helps leading brands build lasting relationships through frictionless digital-first customer service."

Download Verint’s 2022 State of Digital Customer Experience Report to learn more.

About Verint

Verint® (Nasdaq: VRNT) helps the world’s most iconic brands – including over 85 of the Fortune 100 companies – build enduring customer relationships by connecting work, data and experiences across the enterprise. The Verint Customer Engagement portfolio draws on the latest advancements in AI and analytics, an open cloud architecture, and The Science of Customer Engagement to help customers close The Engagement Capacity Gap.

Verint. The Customer Engagement Company. Learn more at Verint.com.

This press release contains "forward-looking statements," including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management's expectations that involve a number of risks, uncertainties and assumptions, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2022, and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, Verint assumes no obligation to update or revise them or to provide reasons why actual results may differ.

VERINT, VERINT DA VINCI THE CUSTOMER ENGAGEMENT COMPANY, BOUNDLESS CUSTOMER ENGAGEMENT, THE ENGAGEMENT CAPACITY GAP and THE SCIENCE OF CUSTOMER ENGAGEMENT are trademarks of Verint Systems Inc. or its subsidiaries. Verint and other parties may also have trademark rights in other terms used herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220610005375/en/


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