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CX MegaTrends Accelerated by the Pandemic

The document summarizes key stats and trends from research on how the COVID-19 pandemic has impacted businesses and customer expectations. Some of the main points include: 96% of businesses changed their go-to-market model during the pandemic; 90% of executives believe the pandemic will fundamentally change how they do business in the next 5 years; and 71% of global consumers say they will lose trust in a brand forever if it is perceived as putting profit over people. The document emphasizes the need for businesses to listen to customers, understand changing needs and behaviors, and focus on trust, innovation and adapting to new realities in a post-pandemic world.

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Enhancing Customer Experience•Customer Service Insights•Customer Satisfaction Insights•Service Design Insights•
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by Customer Thermometer CX Megatrends: The New Next …15stats,trendsandquotesfrom leadingresearchandthinkers
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 the coronavirus
Nearly three-quarters of executives agree that changes brought by COVID- 19 will be a big opportunity for growth
believe COVID-19 will have a lasting impact on their customers’ needs and wants over the next 5 years
Organizations that maintained their innovation through the 2009 financial crisis emerged stronger, outperforming the market average by 30%+
90% believethattheCOVID-19crisiswill fundamentallychangethewaytheydo businessoverthenext5years
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 second 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 1,000%, and Snapchat reported a 50% increase in video calls
“We’re not just fighting an epidemic; we're fighting an infodemic,” Tedros Adhanom Ghebreyesus, director-general of the World Health Organization
Commitment to innovation has decreased as companies work through the COVID-19 crisis and short-term issues
70 percent 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.
• 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/ Sources
Curated by Customer Thermometer