Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business. You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy.

Get it on Amazon (Kindle/Print)

Nearly Half of Holiday Spending Led by Loyalty

The study, which surveyed 1,000 American consumers, found holiday gift budgets are up over 2013 at US$770, with generosity being lowest for pets and bosses at US$10 each. With only 50% of consumers planning to stick to their budget, there's lots of opportunity for brands to influence customers and to increase share of wallet.

"Less than one-third of consumers think customer service is better during the holidays," said Rob Daniel, EVP for Bond Brand Loyalty. "This represents a great opportunity for brands to invest in unique differentiators such as VIP shopping events, gift wrapping, valet parking and loyalty member privileges."

Among the study's main findings:

1. Brand loyalty plays an important role in shopping decisions:
   • 66% of consumers will shop at their favourite retailers;
   • 44% buy their favourite brands as gifts for others;
   • 42% use loyalty points to fund their shopping;
   • 41% choose retailers and brands where they can earn points.
2. Holiday shopping is not necessarily a social event, as almost 60% of Americans do not view holiday shopping as a time to connect and bond with friends or family.
3. How much are they spending and when?
   • 68% of consumers will shop on Black Friday and/or Cyber Monday, and will spend 45% of their holiday budget during these two days;
   • US$770 is the average gift budget, with men spending US$815 and women US$735; Men will spend US$78 on themselves and women US$50;
   • Pets and bosses are not the beneficiaries of holiday generosity - they are at the bottom of people's holiday budgets, at US$10 each;
   • 17% of consumers will re-gift this year, the highest being millennials at 27%;
   • Only 50% of Americans stick to their holiday budget;
   • 24% shop all year for gifts, 38% shop in the last month, and 7% in the last week.
4. The impact of the online channel is significant:
   • 53% of holiday shopping is done in-store, 29% shop online (desktop/laptop), and 7% shop on mobile or tablet;
   • Research on purchases is being conducted almost equally in-store (57%) and online (54%);
   • Advice from friends and family ties with Google searches at 44%. Research using flyers is next at 27%, followed by television at 26%, social media at 25% and magazines at 18%.

"This study highlights the importance of building meaningful engagement and experiences with digitally empowered customers", concluded Bob Macdonald, president and CEO for Bond Brand Loyalty. "Brands that deliver a differentiated and consistent shopping experience across all channels will not only come out on top this season, they will build trust, advocacy and long-lasting brand loyalty for months and years to come."

Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business.

You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy. Grab this goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, technologies, research, suppliers and partners, plus all the supporting arguments you need to build a solid CX strategy.

While most marketers could list maybe a dozen key points for improving their brand's Customer Experience (CX), the researchers and writers at The Marketing Factbook have identified FORTY main 'CX Keys' which will help you drive your customers to new levels of delight, loyalty, advocacy and profitability.

The areas in which customers have direct contact with your organization are perhaps the most obvious places in which CX improvements can be made, and this report addresses all 24 of these 'Direct CX Keys', applicable to offline and online businesses alike.

At the same time there are many other areas that indirectly affect CX (such as the supply chain, policies and processes) in which every business can make simple but far-reaching improvements. This report guides you through the problems and solutions for all 16 of these 'Indirect CX Keys', many of which are often forgotten or under-played even in the best CX strategies.

Get it on Amazon (Kindle/Print)