Brands that deliver the best customer experiences achieve 54 percent higher revenue growth than brands that are ranked poorly by customers. These same factors influence customer advocacy and loyalty, a new report by KPMG has stated.
From a UAE perspective, the study also found that trust and personalization are important factors underpinning customers’ interactions.
From a customer’s point of view, earning power and disposable income may no longer be the most influential factors when it comes to spending habits. Although budgets are still important, it seems customers are willing to pay a premium for accessibility, the improvement of self, or a unique service. Providing an exceptional customer experience has therefore become increasingly complex.
Farhan Syed, Head of Digital and Innovation, KPMG Lower Gulf said, “In an increasingly digitalized world, customer interactions are occurring at a higher frequency across a range of platforms. Companies have realized that they must tailor their offerings to deliver an exceptional experience to continuously win over their customer base.
The KPMG Customer Experience Excellence report identifies brands in the UAE that are going above and beyond to deliver exceptional experiences. “They are leveraging the exponential growth of technology, including access to consumer data, to provide increasingly tailored experiences and earn the respect of their customers,” Mr Syed added.
From among the industries analyzed, the entertainment and leisure sector performed seven percent higher than the market average, achieving first place among the eight industries in the survey.
According to KPMG, brands that excel at being trustworthy, deliver and exceed customer expectations, have empathy, minimize customer effort, turn a disappointing experience into a positive one and offer a more personalized experience, are those that differentiate themselves from the rest. They are winning the trust and loyalty of their customers.
The UAE Customer Experience Excellence report included feedback from over 1,500 customers, covering 44 brands across eight industries in the UAE. Brands analyzed in the report include Emirates Airline, VOX Cinemas, IKEA, Carrefour, Etihad Airways, Union Coop, Emirates NBD, Lulu Hypermarket, Virgin Mobile and Uber.