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New Zealand companies leaving money on the table due to poor customer experiences

Three quarters of New Zealanders say they are dissatisfied with their experiences as customers, according to the Qualtrics 2022 Global Consumer Trends study recently launched.  

Based on insights from 1,000 consumers in New Zealand, Qualtrics found that 74 percent of people believe customer experiences need to be better, going on their experiences with brands in 2021.

Customer service support was the second most common area consumers wanted businesses to improve, behind prices and fees. Improving communications and online resources were also called out for improvement. Almost half of respondents said businesses need to care more about them (43 percent) and get better at listening to their feedback (41 percent).   

“The coming year is critical for organisations across New Zealand as they continue to navigate macroeconomic issues – from talent shortages through to supply chain disruptions and rising costs – caused by the pandemic,” says Vicky Katsabaris, Director of XM Solutions Strategy, Qualtrics.  

“Customer experience will be in the spotlight as consumers will not only demand higher quality support and services in response to the higher costs or longer wait times they might be facing, they will actively seek out and reward those companies able to meet and exceed their expectations. It’s a reality that means businesses across the country will have to continually address customer service gaps that might emerge by finding new and sustainable ways to deepen relationships with customers,” she adds.

The economic impact of poor experiences 

The implications of shifting market dynamics can impact bottom lines. A recent Qualtrics XM Institute study found that globally 53 percent of consumers have cut spending after a single bad experience with a company. In contrast, 38 percent of consumers in New Zealand said they would buy more from a company if it treated them better.  

“The last two years have affected just about everyone at home and at work, pushing consumers to re-evaluate many of their relationships. They are actively looking to do more with organisations that put their needs first,” says Bruce Temkin, Head of Qualtrics XM Institute.

“Given this shift, it’s more important than ever for businesses to continually listen to and understand the needs of their customers, and then rapidly adapt to those signals. Those that can make ongoing use of customer insights will differentiate themselves going forward.”  

Read the full 2022 Global Consumer Trends report to learn more, including how businesses can create better experiences for their customers moving forward.  

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