MENU
GET LISTED
GET LISTED
SHOW ALLPOPULAR CATEGORIES
  • Home
  • B2B News
  • 45+ Key Customer Support Statistics: 2019 Analysis of Trends, Data and Market Share

45+ Key Customer Support Statistics: 2019 Analysis of Trends, Data and Market Share

Category: B2B News

If you are still caught up in the mindset that delivering top-notch product or service should be your business’ overarching objective, think again. A sweeping tide of changes in customer attitude has seen them become loyal to businesses that provide excellent customer experience rather than to businesses that provide outstanding products or services. As jolting as this new paradigm shift seems, it is only one of several reasons why you should keep a close tab on what’s keeping the leading customer support software vendors busy to push your business above the crowd and on a rock-solid growth path ahead. To help you gain a deeper insight on this topic without expending an excessive amount of time and resources, we gathered our experts to bring to your attention key trends and statistics on customer support software and other customer support software facts that should matter to your business now and in the future.

customer support statistics

1. State of Customer Support Industry Statistics

The customer support software market size has never looked better than now, a far cry from just a few decades ago when companies hardly had separate and dedicated departments to focus on the needs of customers. Getting from zero to billions is quite the feat, made more impressive by leading businesses to a new era. And as AI, chatbots, interactive videos, machine learning and the Internet of Things are poised to take the business world by storm, expect customer support software, especially the cloud-hosted varieties, to be there.

  • 88% of customers prefer doing business with a company that offers quality customer service over a company that has the latest and most innovative products. (Harris Interactive)
  • By 2020, CX will surpass both price and product as the key brand differentiator. (Walker)
  • Currently, 89 percent of companies compete primarily on the basis of CX— up from just 36 percent in 2010. (Forbes)
  • The customer support software market size is growing tremendously, projected to grow at more than 23% CAGR from 2019-2025 (Global Market Research)
  • Spearheading the customer software market share is contact center software, which is expected to reach USD 47.76 billion by 2025. (Grand View Research)
  • The top SaaS-based customer support software vendors include familiar names like Freshdesk, Salesforce, Freshworks, Zoho and Zendesk. (Reuters)
  • By industry, supermarket chains provide the best customer experience, while TV and Internet service providers provide the worst. (2018 Temkin Experience Ratings)
  • 46% of global contact center decision makers project their contact centers to grow 5%–10% in the next year, with 14% of them projecting growth of more than 10%. (Forrester)
  • 34% of companies are implementing “customer journey mapping” into their customer service. (Kolsky)
  • Brands that actively invite and accept customer feedback are viewed more favorably by 77% of consumers. (Microsoft)
  • 67% of customers are willing to share personal information with companies in exchange for some perceived value. (Accenture)
  • 81% of Americans say that businesses are meeting or exceeding their expectations for service, compared to 67% in 2014. (American Express)

While customer support software market share has reached these landmark milestones, it helps to understand that it got there with help from other tools. One of these is the emergence of powerful business intelligence tools to help mine key insights from mounting customer support software big data.

2. How Customer Support Costs Your Business Statistics

The advent of widespread internet has allowed customers to speak their mind about businesses that consistently give them awful customer experience—something that they could have easily avoided by investing in a capable customer experience management tools. Their preferred methods of getting back at these awful businesses are voting through their wallets, moving their businesses to competitors and posting their painful experiences on Facebook, Twitter and other social media channels. If you don’t want to be on the crosshair of angry customers venting their ire on your business, learn from the following customer support software research findings:

  • 89% of consumers have switched to doing business with a competitor following a poor customer experience. (Harris Interactive)
  • 75% of brands report that they are measuring customer engagement, but cannot define what it is. (Kolsky)
  • 33% of customers abandoned a business relationship last year because personalization was lacking. (Accenture)
  • 62% of customers say they share their bad experiences with others. (Salesforce Research)
  • 75% of customers believe it takes too long to reach a live agent. (Harris Interactive)
  • It costs 6–7 times more to attract a new customer than to retain an existing one. (Kolsky)
  • 27% of Americans report that ineffective customer service is their number one frustration. (Statista)

3. The Rewards of Customer Support Statistics

Extensive customer support software research in recent years reveal how global businesses and customers respond to constantly changing business landscapes. The emergence of powerful technologies, for example, has made aggressive consumer advocates for better customer experience. Companies that address consumer concerns are reaping massive tangible rewards, with many of them leading businesses to a new age. An investment in a full-featured help desk tool, for example, can go a long way in this direction. This compilation of customer support software statistics shows how your business stands to gain in specific terms from implementing a customer support-oriented approach throughout your organization.

  • 73% of companies with “above average” customer experience maturity perform better financially than their competitors (compared to 44% of less mature companies). (Temkin Group)
  • 96% of global consumers say customer service is an important factor in their choice of loyalty to a brand. (Microsoft)
  • When asking consumers what impacts their level of trust with a company, offering excellent customer service ranked number one. (Dimensional Research)
  • 67% of consumers say they’d pay extra to get excellent customer experience. (Salesforce Research)
  • After having a positive experience with a company, 77% of customers would recommend it to a friend. (Temkin Group)
  • 68% of customers report that a pleasant representative is key to their recent positive service experiences, while 62% say that a representative’s knowledge or resourcefulness is key. (American Express)
  • Companies that proactively improve their customer experience also see employee engagement rates go up by an average of 20%. (McKinsey)

4. Customer Expectations’ Business Impact Statistics

With multiple avenues available for businesses to improve how they deal with their customers, it follows that the same customers expect businesses to employ any mix of these avenues to gain traction in their own markets. Businesses who are ready to attune their ears to these customer expectations and act accordingly are amply rewarded, foremost of which are customers who remain loyal to their brand for a long time. If you find yourself needing help in meeting these customer expectations, consider investing in any of the leading customer support solutions.

  • A customer experience promoter has a lifetime value to a company that’s 600 to 1,400% that of a detractor. (Bain)
  • 73% of customers want to solve product or service issues on their own. (Bizreport)
  • 86% of B2B executives prefer using self-service tools for reordering, rather than talking to a sales representative.
 (McKinsey)
  • 76% of consumers expect companies to understand their needs and expectations. (Salesforce)
  • 75% of online customers expect help within five minutes.
 (McKinsey)
  • Globally, 54% of consumers have higher customer service expectations than they did one year ago. (Microsoft)
  • 48% of consumers expect specialized treatment for being a good customer. (Accenture)
  • 52% of global consumers expect businesses to take action on their feedback. (Microsoft)
  • 72% of consumers expect agents to “know who they are, what they have purchased and have insights into their previous engagements” when they contact customer support. (Microsoft)

5. Your Business and Social Media Statistics

Facebook, Twitter and Instagram are no longer just the gathering place of long-lost friends and socially gregarious people who will post anything that comes to mind. Nowadays, these social media behemoths are also proving to be a battleground for businesses trying to outdo competitors while hunting around for leads and prospects as well as for customers sniping away at businesses that have offended them at some point, rallying friend, families, and any stranger who stumbled on the post to run for their lives rather than do business with this or that company. The social media platforms could prove to be a real jungle out there. If mastering it sounds massively appealing to you, then nothing would do better than understanding how social management software works right away.

  • 63 percent of customers expect companies to offer support via social media. (ValueWalk)
  • Customers are willing to spend 20% to 40% more on companies that actively engage in social media. (Bain)
  • 35% of customers prefer social media over other channels. (ValueWalk)
  • Moving to social media customer service can reduce cost per contact by as much as 83%. (McKinsey)
  • Americans are more likely to post about good experiences (53%) than poor experiences (35%) on social media. (American Express)
  • 68% of companies say that the agents that are dedicated to social media customer service show greater job satisfaction rates than agents assigned to phone and email support channels. (Sparkcentral)

If you still doubt how much social media could impact your business, consider how that United Airline social media crisis when the company managed to lose $1.4 billion in value overnight when a passenger’s experience went viral on social media.

6. AI, Chatbots and Other Technologies in Customer Support Statistics

The hottest buzzwords in computing today are artificial intelligence, chatbots, robotic process automation and the application of customer support software big data. Promises of tremendous rewards in these technologies find businesses out-muscling each other in acquiring or merging with RPA startups, for example, or starting their own initiatives. Do all of these mean anything for your business? The answer is a resounding yes, and the latest customer support software trends and statistics bear out the facts.

  • Robotic process automation (RPA) is projected to improve customer service handling by as much as 40%. (Accenture)
  • RPA will reduce customer service processing costs by up to 80%. (Accenture)
  • Showing the highest projected growth rate, customer service teams in the travel and hospitality industry expect AI use to grow 187% over the next 18 months. (Salesforce)
  • More financial services firms are adopting AI, with 41% using some form of AI compared to other sectors. For example, only 13% of education institutions are using AI. (Salesforce)
  • Only 9% of governments use AI chatbots as opposed to 42% of media and communications companies. (Salesforce)
  • 69% of high-performing service agents are actively looking for situations to use artificial intelligence (AI) compared to only 39% of underperformers. (Salesforce)
  • 51% of agents without AI say they spend most of their time on mundane tasks, versus 34% of agents with AI. (Salesforce)
  • High-performing service teams are 3.2 times more likely than underperformers to have a defined AI strategy. (Salesforce)
  • Customer satisfaction ratings for live chat are often higher than all other support channels, likely because of the speed and conversational nature. (Live Chat Benchmark Report)
  • The number one reason people dislike calling companies: not being able to speak to a real person right away. (Newvoicemedia.com)
  • Consumers will wait on hold for an average of 11 minutes before hanging up. (Newvoicemedia.com)
  • Customer expectations for chat response times are higher than they are with email — the average wait time for chat is 45 seconds. (Live Chat Benchmark Report)

If you’re considering on future-proofing your company, an investment in artificial intelligence tools should get you on your way.

Customer Support Software Works Best with Other Applications

If you have been paying attention closely, you would have realized that there are more than one way to meeting customer expectations squarely. While a leading customer support software like Freshdesk can help you make data-driven decisions and meet most of your business needs, you may also consider applications that deliver on specific customer needs.

One of these is live chat software, which lets you communicate and engage with leads and prospects in real time. Some of the leading live chat tools in the category also let you use them across multiple channels, saving you from further investing in other applications.

For self-help approach to customer support, you can look up knowledge base management tools, which help agents focus more on pursuing the most productive clients while allowing customers to resolve queries through a vast library of useful information on a database portal.

You cannot provide any meaningful customer support without a CRM tool which is the foundation of many business operations. CRM applications are not only the best friend of sales and marketing departments, but they are also behind the success of many customer service departments.

However you want to deploy your customer support system, never pick a solution without first giving it a test drive, which is typically offered by software vendors.

By Louie Andre

B2B & SaaS market analyst and senior writer for FinancesOnline. He is most interested in project management solutions, believing all businesses are a work in progress. No stranger to small business hiccups and drama, having been involved in a few internet startups. Prior to his for-profit ventures, he has had managed corporate communications for a Kansas City-based Children International unit.

Related posts

Leave a comment!

Add your comment below.

Be nice. Keep it clean. Stay on topic. No spam.

Back to
top

Why is FinancesOnline free? Why is FinancesOnline free?

FinancesOnline is available for free for all business professionals interested in an efficient way to find top-notch SaaS solutions. We are able to keep our service free of charge thanks to cooperation with some of the vendors, who are willing to pay us for traffic and sales opportunities provided by our website. Please note, that FinancesOnline lists all vendors, we’re not limited only to the ones that pay us, and all software providers have an equal opportunity to get featured in our rankings and comparisons, win awards, gather user reviews, all in our effort to give you reliable advice that will enable you to make well-informed purchase decisions.

Share
Tweet
Share