CX Megatrends: What's Driving The New Next

By Lindsay Willott · Thu Jul 02 2020

The pandemic has accelerated trends that were already bubbling away under the surface.

We reviewed the pandemic reports of some of the world’s leading consultancies, agencies and analysts to dig out the statistics and quotes that show how our world is changing.

Here’s what they are saying is happening now, and what it means for customer experience, customer behavior and its ramifications on the customer service you offer:

Download the full deck here:

CX MegaTrends Accelerated by the Pandemic from Customer Thermometer

Or read the stats in full here:

• 96% of businesses have changed their go-to-market model since the pandemic hit
• 92% admire companies that are taking action to help stop the spread of coronavirus
• Nearly three quarters of executives agree that changes brought by COVID-19 will be a big growth opportunity
• 85% believe COVID-19 will have a lasting impact on their customers’ needs and wants over the next 5 years
• “Organisations that maintained their innovation through the 2009 financial crisis emerged stronger, outperforming the market average by 30%”
• 90% believe that the COVID-19 crisis will fundamentally change the way they do business over the next 5 years
• 88% of Americans have a better appreciation for the role technology has played in helping culture and society during the crisis
• “Google searches for ‘good news’ spiked in the 2nd week of April 2020 in the US, reaching a 5-year high”
• “Digital creation is going mainstream. As digital creative output gains legitimacy and becomes more refined by the day, expect to see more sophisticated techniques and tools arise.”
• Facebook data shows that, time spent in group calls increased by over 1000%, and Snapchat reported a 50% increase in video calls”
• “We’re not just fight an epidemic, we’re fighting an infodemic” DG of WHO
• “Commitment to innovation has decreased as companies work through the COVID-19 crisis and short-term issues”
• 70% say trusting a brand is more important today than in the past – a shared belief among age groups, gender and income
• 71% of global consumers agree that if they perceive a brand is putting profit over people, they will lose trust in that brand forever
• “Your customers will tell you if you’re doing a good job. They will share their concerns. All you have to do is ask them. For example, 55% of customers say their curbside pickup experience has been “fast and easy,” but 45% say the experience has been “a little rocky” or “poor.” Find out if your process is working. Ask your customers for feedback. Listen closely and then react quickly to areas that need improvement.”

Sources

• https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our- insights/innovation-in-a-crisis-why-it-is-more-critical-than-ever
• https://intelligence.wundermanthompson.com/trend-reports/the-future-100-2-0-20/
• https://www.edelman.co.uk/research/trust-barometer-special-report-brand-trust-2020
• https://www.forbes.com/sites/shephyken/2020/06/28/three-ways-to-prepare-for-the-post-pandemic-customer-experience/