New Study Spotlights Divide Between Businesses and Consumers Over Definition of "Good" Customer Experience
September 12 2018 - 9:00AM
Today, LogMeIn, Inc. (Nasdaq:LOGM) released a new study designed to
analyze the business impact and consumer attitudes of today’s
customer journey. The LogMeIn 2018 AI Customer Experience
Study surveyed over 5,000 respondents made up of both business
leaders and consumers around the globe. The research found
that over one-third of consumers were not impressed with their
customer journey, citing an average or poor experience with 83% of
consumers citing that they had at least one issue while interacting
with a brand. Businesses, on the other hand, are reporting
much different numbers. Eighty percent of businesses believe
their customers would give them a favorable review despite also
reporting that less than half of customer queries are resolved
during the first interaction. This disconnect shows that
companies are setting the bar for "good" service too low, which
could have significant business impact as customer experience
becomes even more vital in the buying decision of consumers.
In fact, the research shows that while retail and travel and
hospitality industries lead the pack when it comes to good customer
experience, only 58% of consumers rate their experience highly in
each of these sectors, while telecoms ranked worst with only 41% of
consumers giving a favorable rating. This contradiction
between the customer and business perception is a pervasive issue
plaguing companies of all sizes and industries.
Consumers Rely on Classic Channels Despite Providing
Slower Resolution
Both business and consumer respondents agree that telephone and
email are among the most common channels used to conduct business,
however they also tend to produce the slowest time to
resolution. Consumers reported that the average time to
resolution was 11 hours – which is nearly 3 times higher than the
wait time they cited as being acceptable. And these times
increase for those using telephone interactions (7 hours) and email
(18 hours). In addition, these channels aren’t providing
effective results with businesses reporting that only 49% of
problems are solved on the first interaction. These wait
times and issues with first contact resolution are likely due to
the fact that 68% of businesses believe their agents struggle with
the volume of customer requests.
Businesses Are Investing in Customer
Experience
Feeling that traditional customer engagement solutions aren’t
meeting expectations, 61% of business respondents said they will
allocate more budget to new solutions specifically designed for
customer engagement over the next 12 months. In addition, 35% of
businesses have already invested in emerging technologies like AI
with another 53% planning to invest. Companies
anticipate these investments will increase customer satisfaction,
resolve customer inquiries more quickly, be able to provide a more
personalized experience and increase agent satisfaction levels. In
addition, over 70% of consumers want brands to leverage technology
to reduce time to resolution.
Chatbots: A Realistic View
Today, only 32% of consumers believe they get the best results
when interacting with a brand when an AI-powered chatbot is
involved in some capacity – either as a self-service tool or to
assist a human agent. And while there is a portion of
consumers who are skeptical about chatbots, a majority (74%) see
the benefits for customer service.
Businesses agree that chatbots can help deliver the faster
resolutions for customers while also helping agents be more
productive and effective. To date, customer service agents
use an average of 3 different systems to service a customer and
spend over half their time understanding basic facts like customer
profile information and the nature of the inquiry. Operating
behind the scenes chatbots can gather this information in real-time
– informing the agent of who they are talking to, their history
with the brand, the potential problem the customer is having, and
how to solve it. Having this information at the outset leaves
agents more time to spend on resolving the issue. And
answering the hot button question of whether chatbots will replace
human jobs, the answer was no. In fact, 65% of organizations
reported that if chatbots could reduce inquiries into call centers,
they would train agents to handle different or additional
tasks.
“What we learned from doing this study is that despite
hesitations around using AI, both consumers and businesses do think
it’s changing customer service for the better,” said Ryan Lester,
Director of Customer Engagement Technologies at LogMeIn.
“While customers, for the most part, have come to accept that their
interactions with brands will be involved and time consuming, their
expectations are increasing as new technologies become more
commonplace. Companies have a unique opportunity to leverage
these new advancements -- like chatbots -- to provide a leg-up on
the competition and set the bar for all others in their industry
and beyond.”
Additional Resources:
- LogMeIn 2018 AI Customer Experience Study
- Blog: Is AI Having Its iPhone Moment?
- Bold360 Website
LogMeIn’s Customer Engagement &
Support Portfolio
LogMeIn delivers industry leading solutions
designed to empower companies to deliver smarter, more personalized
customer engagement and support. Supporting over 200 million
customer interactions every year, LogMeIn is helping companies
transform how they interact with their customers in real-time,
creating experiences that drive increased satisfaction and brand
loyalty.
About LogMeIn, Inc.
LogMeIn, Inc. (Nasdaq:LOGM) simplifies how
people connect with each other and the world around them to drive
meaningful interactions, deepen relationships, and create better
outcomes for individuals and businesses. One of the world’s top 10
public SaaS companies, and a market leader in communication &
conferencing, identity & access, and customer engagement &
support solutions, LogMeIn has millions of customers spanning
virtually every country across the globe. LogMeIn is headquartered
in Boston with additional locations in North America, South
America, Europe, Asia and Australia.
Media contact:
Alison Parker
press@logmein.com
781-850-1261
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