Accenture Consumer Pulse Research

LATEST THINKING

As digital creates more competition and new disruptors enter the market, there is a risk to being passive and conservative. Canadian brands that have never felt the need to innovate will suddenly need to catch up. If they don’t, they risk losing their customer base.

With 77 percent of Canadian consumers making the decision to no longer do business with brands that fail to meet their expectations, and 49 percent switching service providers in the past year due to customer service issues, organizations must pay closer attention to how customers interact with their brand in the digital age, or risk losing them for good. Organizations that stick to traditional approaches and don’t explore the new drivers influencing customer loyalty risk draining profitability and pushing customers away, according to Accenture’s 12th annual Global Consumer Pulse Research. The study gauges the experiences and attitudes of 25,426 consumers around the world about marketing, sales and customer services, with 1,330 respondents from Canada.

There is an opportunity for market disruption if new entrants invest in the customer experience and "wow" factor that customers crave. Companies that are able to adequately service customers at every step of the purchasing journey will lead the way in the digital age.

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accenture.com/GlobalConsumerPulseResearch

HOW BRANDS CAN GAIN LOYALTY AND TRUST

Eighty percent of consumers feel more loyal to brands that are there for them when they need them, but otherwise respect their time. Eighty-two percent of consumers also feel more loyal to brands/organizations that are trustworthy regarding safeguarding and respecting the privacy of their personal information. Forty-nine percent of consumers feel more loyal to brands/organizations that keep consumers on the cutting edge by consistently offering the latest products and services.
Sixty-six percent of Canadians cite a shift in loyalty primarily driven by price to quality. Most Canadians (65 percent) also express loyalty by conducting the same amount of business with an organization.
Customer retention is adversely affected if users’ digital experiences are sub-par. Only 23 percent believe online offers better service, while 54 percent of Canadians will begin their next purchasing journey through a physical channel, after experiencing a negative digital journey.