The 2022 Global Consumer Trends Report from Qualtrics reveals that 62 percent of consumers believe businesses need to care more about them.
When businesses do not, many customers start to feel ignored and disillusioned. Over time, they give up, stop engaging, and move on.
Such is the conclusion of the report, which states:
Customers want a two-way relationship with the companies they buy from, where they feel that their voice is heard, and their feedback is acted on.
This statement is particularly true in industries such as travel, retail, and entertainment.
Yet, it provokes questions such as; how can organizations facilitate these two-way relationships, and what actions should they take to keep customers engaged?
What Actions Can Organizations Take?
Perhaps the answer lies in the following statistic: 63 percent of consumers think businesses need to do a better job of listening to their feedback.
The finding suggests that organizations must do more to understand what their consumers want and need them to do.
Yet, Bruce Temkin, Head of Qualtrics XM Institute, also suggests that organizations should reconsider their segmentation and value models.
Speaking to CX Today, Temkin said:
After COVID, many people started to have a different view of what they considered valuable. Whether we go into the exercise, travel, entertainment industries, what people see as important has shifted somewhat.
Such a trend may have altered customer segments. Consequently, assessing whether there are new segments and whether they drive value differently – through harnessing customer feedback – is a potentially insightful exercise.
After all, companies can begin to innovate on new perceptions of the customer, driving their experience design efforts and allowing them to tweak and develop new customer journeys. These aim to match up with new segments and customer views on what value means to them.
Dig Deeper Into the Latest Qualtrics Study
“Customers will stop engaging, unless you take action” is one of tour top takeaways from the Qualtrics report. The others include:
- Customers have had enough, and they are willing to walk away
- Organizations are tossing out their pre-2022 business plans
- Treat customers as people, not commodities
Take a deep dive into each of these prominent CX trends by checking out our full interview with Bruce Temkin below.
The Qualtrics study collected data from 23,000 consumers across 23 countries in September 2021 to pinpoint these top takeaways and statistics.
