Expectation vs reality is a concept that we all experience in our daily lives.
It is
the contrast between what we anticipate or hope will happen and what actually
happens in the end. The difference between the two can sometimes be a source of
disappointment, frustration, or even excitement.Expectations are a natural part of
human behavior. We make assumptions and predictions based on past experiences,
cultural norms, and societal pressures.
According to a survey by PwC, 73% of consumers say that customer experience is
a key factor in their purchasing decisions. Additionally, a study by American Express
found that customers are willing to spend 17% more with companies that provide
excellent customer service. It may happen that at times, your service and customer
expectations might not match. As technology advances and becomes more digital,
customers are becoming increasingly informed and more likely to demand services at
a faster pace. They also expect to have a consistent experience every time they
connect with you. If you fall short of meeting your customers’ demands, you may lose
out on some good ones.Studies reveal that around 78% of consumers on a transaction
did not make an intended sale due to poor customer experience. Moreover, poor
customer service can negatively impact your brand image, with 58% of consumers
telling others about their negative experiences. Additionally, it is estimated that it
costs five times as much to attract a new customer than to retain an existing
one. (Amy Sarah John 2023)
According to Tanya Ahmed (2021). Consumers today expect speedier access to
services than ever before. They count on meaningful interactions with service
professionals who make them feel valued. Customers want their concerns resolved
swiftly, without having to wait in line or being handed from one executive to
another. A good customer experience (CX) begins with a 24-hours seamless website
user experience, followed by top-notch customer care, and concludes with the
receiving of the product/service purchased from you. Companies failing to meet good
customer experience lose out on their customers (American Express Survey 2011).
Estimations show that about 78% of consumers on a transaction did not choose to
make an intended sale.
According to Greg Zakowicz (2017).Consumer expectations versus reality. It is a
complex topic for all retailers, but especially for those who sell online. Look at how
Amazon has raised the bar on consumer expectations, such as with fast and free
shipping. Consider how accessible mobile phones are, allowing consumers to find any
product they are searching for, regardless of where they or the product is located.
Social media, and its integration into the shopping experience, is providing a direct
connection between brand and consumer.
The best way to meet consumer expectations is to develop a more robust
personalization program, especially when it comes to email marketing. According to a
2016 Flagship Research survey, nearly 60% of consumers expect gender to be used to
make email messages more relevant. More than 60% of consumers expect emails to
be personalized based on interests they gave in their profile, their birthday, purchases
they made online, and what they looked at on their website. While these figures are
telling, what is even more daunting for retailers is that 40% of consumers expect
offline purchases to be used to make email marketing more relevant.
According to a study by PWC, nearly 80% of American consumers believe that
speed, convenience and easy payments are the most important elements of a positive
customer experience.But what happens when things go wrong? PayNearMe’s recent
survey found that nearly half of consumers (44%) wish managing and paying bills
was easier.As part of this experience, consumers want the same breadth of mobile
payment options they have elsewhere. If available, 48% of consumers are likely or
very likely to use Apple Pay and Google Pay to pay their bill, with 40% saying it’s
important or very important to have this option. Additionally, nearly half of U.S.
consumers (43%) say the convenience of using PayPal to pay bills is important or
very important.While most billers are not currently offering these mobile payment
options to their customers, doing so could help them increase customer satisfaction
and on-time payments by simply matching customer payment preferences to facilitate
an easier, more convenient bill pay experience. (2017)
Customer satisfaction is the business owner's goal for their business. The purpose
of this study is to determine and understand customer expectations and reality.
REFERENCE:
https://chingsay.medium.com/expectation-vs-reality-24ef69fd3e51?
source=rss-------1
https://www.znetlive.com/blog/customer-service-solutions-expectations-vs-
reality/
https://hyken.com/customer-experience/guest-post-customer-experience-
expectation-vs-reality/
https://multichannelmerchant.com/blog/email-expectations-vs-reality-are-you-
letting-your-customers-down/
https://home.paynearme.com/blog/consumer-payment-expectations-vs-reality-
2021/
