When Pinterest focused on improving the speed of pinning items, customer engagement in the application increased by 10-30%. As Gartner’s Penny Gillespie puts it, “Customer experience is first and foremost…it’s all about serving the 24/7 customers.”
If you harbor any doubts that we live in an omnichannel age, take a look at the following statistics. According to Google, 98% of Americans switch between devices in the same day. In the early 2000’s, only 7% of consumers used more than four touchpoints when purchasing an item. Fast forward to today, and that number has climbed to over 50%.
According to a research report by CB Insights, The Challenger Bank Playbook, “Challenger banks first made in-roads with consumers who lost faith in institutional firms following the global financial crisis.”
In a recent column in MIT Sloan Management Review, Thomas H. Davenport and Andrew Spanyi wrote, “The evidence is piling up that organization-wide digital transformation is challenging for many organizations.” The authors go on to list many of the factors that are causing companies to struggle with digital transformation—among them, numerous legacy systems, too much technical debt and a large number of functional and business unit data silos to overcome.
Deloitte’s annual Holiday Survey of Consumers found that online is king when it comes to the 2019 holiday shopping season. According to the report, consumers of all ages are more likely to rely on Cyber Monday than Black Friday and expect to spend nearly 60% of their holiday budget online. Given eCommerce’s popularity these findings aren’t terribly surprising, however, they underscore that online retailers cannot afford any downtime or performance glitches when Cyber Monday dawns.
“The collapse of Thomas Cook, one of the most high-profile company failures in the history of the travel industry, will be pored over by analysts for years to come.” This according to an article by PhocusWire’s Kevin May but it’s a sentiment shared by countless other media members, Thomas Cook employees, and the 150,000 people stranded by the company’s disintegration.
In a recent Eggplant survey on retail trends it was apparent that companies are facing some common challenges in delivering a high-quality digital experience. Nearly every retailer we surveyed recognizes the importance of evaluating how the user experience impacts business outcomes, yet 30% have a drop off rate of 50% or more on online properties.
On July 23, 2019, Antony Edwards, COO of Eggplant, and Diego Lo Giudice, VP Principal Analyst at Forrester, conducted a webinar on “Putting Intelligence into your Continuous Testing.”
If you ask the average CEO to rate how important digital transformation is to their business, chances are it would crack the top five—if not take the number one spot. After all, a recent Gartner survey found that IT spending will reach $3.85 trillion this year with enterprise software continuing to be the fastest-growing category.
Poor customer experience is costing financial institutions $10 billion in revenue annually, according to an industry report released earlier this year. It’s a staggering figure that underscores how critical it is for financial services firms to delight their customers at every interaction. But, when you consider the industry’s complex, highly regulated environment and the customer expectation for a seamless experience across devices and operating systems, it’s clear that this is anything but a simple task.