Customer Communications Management Statistics 2023: Facts about Customer Communications Management outlines the context of what’s happening in the tech world.
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Top Customer Communications Management Statistics 2023
☰ Use “CTRL+F” to quickly find statistics. There are total 121 Customer Communications Management Statistics on this page 🙂Customer Communications Management “Latest” Statistics
- Customer communication management should be a top priority for every business. Still, according to Forrester, 88% of firms are dissatisfied with the way they handle customer-facing interactions across the customer journey.[1]
- 90% of clients now anticipate a quick response, with 60% defining quick as under 10 minutes.[1]
- According to Bain & Co., between 60%-80% of consumers who say they are happy do not return to the firm that first satisfied them for more transactions.[2]
- InfoTrends used analyst data to support the claim, stating that more than 90% of customers open and read transactional papers.[3]
- DCM’s marketing operations were particularly affected by the pandemic, which saw decreased sales of 8.3% and 9.2% in 2020 and 2021, respectively.[4]
- The obvious undervaluation of DCM makes a potential FCF yield of 50% of the company’s present market capitalization possible if the turnaround continues to produce results.[4]
- Despite the previously reported 8.3% fall in sales in 2020, the company’s EBITDA climbed by $13.42M to $21.63, surpassing its EBITDA of $19.93 in 2021.[4]
- To be cautious, however, even if DCM only generated an FCF of 15 million, investors would still earn a 35% FCF yield based on the company’s current market valuation of 43 million.[4]
- DCM sales before the pandemic and the unsuccessful ERP system implementation climbed at a rate of 5.2% each year, although declining in 2016.[4]
- Although a 1.4% increase in gross margins does not indicate a successful turnaround, it demonstrates management’s dedication to cost-cutting technology.[4]
- From 2020 to 2030, the overall employment of advertising, promotions, and marketing managers is anticipated to increase by 10%, nearly as quickly as the national average for all professions.[5]
- According to a Gartner study, CX will eventually represent 89% of company competition, making it the new commercial battlefield.[6]
- According to Salesforce, CRM also improves sales productivity by 34% and sales forecast accuracy by 42%.[6]
- According to Aberdeen, efficient sales firms are 81% more likely to use CRM routinely.[6]
- From 2021 to 2027, the Global Customer Communications Management Market size is anticipated to expand by 11.8%.[7]
- After a great experience, 24% of customers continue doing business with suppliers for two or more years.[8]
- A competent person is the most important component for a pleasant customer experience, according to 31% of customers.[8]
- The two things that aggravate 33% of consumers the most are having to wait on hold and having to repeat yourself too many customer service representatives.[8]
- 50% of consumers said they don’t post about their positive or negative service experiences on social media.[8]
- Compared to the 82% of consumers who use mobile applications to communicate with businesses, 51% of customer support staff utilize them.[8]
- Compared to the 81% of consumers who contact businesses through online chat or live assistance, just 52% of customer care personnel do so.[8]
- 59% of consumers think businesses must provide cutting-edge digital experiences to maintain their business.[8]
- 62% of consumers would rather issue parking citations than wait in a machine-driven phone tree or have to repeat themselves to several team members.[8]
- 76% of B2B buyers and 63% of consumers want firms to be aware of their particular requirements and expectations.[8]
- While 78% of consumers communicate with businesses through text, 63% of customer support employees do the same.[8]
- Customer care personnel utilize customer portals in 64% of cases, while consumers do so in 84% of cases.[8]
- Compared to the 82% of consumers who utilize knowledge bases, just 66% of customer service staff do so.[8]
- When they are unable to contact a customer support professional, 67% of consumers terminate a call in frustration.[8]
- Consumers claim that 68% of them are prepared to pay extra for goods and services from companies with a reputation for providing excellent customer service.[8]
- 69% of customers attempt to fix their problems on their own initiative, while less than one-third of businesses provide self-service tools like a knowledge base.[8]
- Compared to just 39% of underperformers, high-performing service agents actively seek out opportunities to apply artificial intelligence.[8]
- 70% of consumers said that, in an emergency, technology makes it easy for them to move their company to a rival.[8]
- 71% of customers between the ages of 16 and 24 think that receiving a prompt response from a caring staff may greatly enhance their customer experience.[8]
- 72% of consumers believe that having to explain their issues to many people is bad customer service.[8]
- Friendly customer service employees are responsible for 73% of clients falling in love with a company.[8]
- Even as the technology for automated solutions advances, 75% of customers will still prefer to engage with a human person.[8]
- No matter how they interact with a business—on social media, in person, over the phone, etc.—75% of consumers want a consistent experience.[8]
- Facebook is the most widely used social media network in America, with 79% of all internet users.[8]
- Consumers who complained online about a bad customer experience were disregarded in 79% of cases.[8]
- 80% of businesses assess and enhance customer experience using customer satisfaction ratings.[8]
- 80% of clients believe that a business’s experiences are equally as essential as its goods or services.[8]
- Customers are more loyal to companies that address their issues, according to 83% of respondents.[8]
- Compared to just 52% of underperformers, 83% of high-performing service agents said they get the training they need to accomplish their jobs properly.[8]
- 84% of clients report that their most recent encounter with customer service did not meet their expectations.[8]
- Only 57% of underperformers make major investments in agent training, compared to 88% of high-performing service decisions.[8]
- 88% of consumers believe businesses that promise not to reveal their personal information without consent.[8]
- 89% of businesses that consistently provide client experiences that are above average outperform their rivals financially.[8]
- After receiving good customer service, 89% of customers are more inclined to make another purchase.[8]
- 90% of Americans consider a company’s customer service when selecting whether or not to do business with it.[8]
- 90% of customers throughout the globe say that solving problems is their top customer service priority.[8]
- Customers appreciate corporations providing control over the data gathered about them in 92% of cases.[8]
- Customers who get outstanding customer service from businesses are 93% more likely to make further purchases from them.[8]
- More than 76% of all customers prefer to contact customer service professionals through phone calls.[8]
- A staggering 95% of customers agree that good customer service is crucial for maintaining brand loyalty, and 60% of consumers claim to have abandoned a brand in favor of a competing one due to poor customer service.[8]
- If you have an excellent privacy policy, nearly 90% of consumers are more inclined to trust you.[8]
- Around 80% of customers indicate they would prefer to conduct business with a rival after more than one unfavorable encounter.[8]
- 40% of American consumers depend on alternative means to contact customer support teams because they do not find bots to be productive.[8]
- Companies that prioritize providing superior customer service may increase sales by 4% to 8% over their market.[8]
- When they are unable to contact a customer support professional, 67% of consumers terminate a call in frustration.[8]
- 70% of dissatisfied consumers whose issues are remedied are prepared to do business with a company again.[8]
- Consumers claim that 68% of them are prepared to pay extra for goods and services from companies with a reputation for providing excellent customer service.[8]
- 73% of consumers claim that courteous customer service representatives are the reason they continue to support companies.[8]
- More than 76% of all customers prefer to contact customer service professionals through phone calls.[8]
- 95% of people in the 18–34 age group are likely to follow a brand on social media.[8]
- Phone contact with a service team is frequently utilized by more than 50% of consumers of all ages, making it the most popular method of customer support.[8]
- More than 70% of customers think businesses have to work together, so they don’t have to repeat information to several reps.[8]
- Long hold times and wait periods are considered the most annoying aspects of a service encounter by almost 60% of clients.[8]
- Nearly 90% of customers have faith in a business to meet their demands if they have given it a very high rating for service.[8]
- Consumers who rank a company’s customer service as extremely bad are just 13% more likely to suggest it.[8]
- From an average of 20% in the past, around 4% of customers who leave or threaten to leave are persuaded to remain by accepting a promotion today.[8]
- 70% of clients claim that maintaining their company depends on service providers’ knowledge of sales contacts.[8]
- Insufficient customer service will prompt 58% of American customers to switch firms.[8]
- Compared to the 82% of consumers who use mobile applications to communicate with businesses, 51% of customer support staff utilize them.[8]
- In return for improved service, 56% of consumers don’t mind revealing their personal information.[8]
- 59% of consumers think businesses must provide cutting-edge digital experiences to maintain their business.[8]
- Customer care personnel utilize customer portals in 64% of cases, while consumers do so in 84% of cases.[8]
- Compared to just 39% of underperformers, high-performing service agents actively seek out opportunities to apply artificial intelligence.[8]
- 70% of consumers said that, in an emergency, technology makes it easy for them to move their company to a rival.[8]
- 70% of clients claim that maintaining their company depends on service providers’ knowledge of sales contacts.[8]
- No matter how they interact with a business—on social media, in person, over the phone, etc.—75% of consumers want a consistent experience.[8]
- In return for contextualized encounters where they feel instantly recognized and understood, 79% of consumers are prepared to provide relevant information about themselves.[8]
- 80% of clients believe that a business’s experiences are equally as essential as its goods or services.[8]
- Only 57% of underperformers make major investments in agent training, compared to 88% of high-performing service decisions.[8]
- Salesforce 88% of consumers believe businesses that promise not to reveal their personal information without consent.[8]
- Customers appreciate corporations providing control over the data gathered about them in 92% of cases.[8]
- Since 77% of customers believe that the largest problem with customer service today is the inability to contact an agent, it is worthwhile to spend on correcting it.[8]
- Hold times increased by 34%, and escalations increased by more than 68% for some of the study’s participants, underscoring the effect that customer service has on organizations.[8]
- Teams may be set up in minutes, are twice as productive, and save their yearly support expenditures by up to 80%.[8]
- The typical business witnessed a 10% rise in the proportion of calls that representatives classified as problematic.[8]
- The second fascinating figure is that more than 70% of customers think businesses need to work together for their benefit.[8]
- The average number of challenging calls is between 10% and 20%, but the pandemic worsened customer experience numbers.[8]
- While just 50% of consumers don’t communicate about their experiences on social media, 72% do so in person.[8]
- 71% of younger customers say that their experience has significantly improved at this level of response rate, and things only go worse from there.[8]
- Integrating individualized customer experiences may increase your online conversion rate by around 8%.[8]
- More than 70% of customers think businesses have to work together, so they don’t have to repeat information to several reps.[8]
- When a customer’s call is shifted from one department to another, about 70% of them get irate.[8]
- According to projections, the size of the worldwide CCM market will increase from 1.3 billion in 2021 to 2.2 billion by 2026, with a CAGR of 11.2% during the forecast period.[9]
- Businesses may want to take notice of the Pegasystems study’s finding that just 13% of consumers prefer chatbots over human customer support representatives.[10]
- 71% of customers want the businesses they do business with to remember their prior encounters. Still, just 29% think that often occurs for them, which provides an online customer support platform.[10]
- According to Quadient, CCM software may assist firms in getting rid of, on average, 75% of their stored communication information.[10]
- Companies started utilizing CCM to add other communication in those same envelopes to advertise their goods and services to clients after discovering that around 90% of their customers opened this kind of mail.[10]
- 71% of U.S. citizens prefer talking to real people over chatbots or other automated assistance.[10]
- 26% of corporate executives want to invest in chatbots during the next two years.[10]
- 75% of respondents think most customization is at least somewhat disturbing.[10]
- 80% of businesses still use on-premises software, but that number has increased dramatically over the previous several years, and the trend is expected to continue.[10]
- Esteban Kolsky estimates that 72% of clients will tell six or more people about a favorable experience.[11]
- Mobile devices now account for 52% of all internet traffic, with desktop use sliding downward.[11]
- A recent study by Adobe found that businesses with the best omnichannel customer interaction strategy see 10% year-over-year growth, a 10% rise in average order value, and a 25% boost in close rates.[11]
- 50% of users will quit visiting a website if it isn’t mobile-friendly, even if they like the company.[11]
- 57% of consumers won’t suggest a company with a mobile website that is badly built.[11]
- Customers, for instance, are prepared to pay a price premium of up to 13% and as high as 18% for luxury and indulgence services just by having a wonderful customer experience.[11]
- If an online knowledge base were accessible and catered to their requirements, 91% of consumers would utilize it.[11]
- PwC discovered that the number of businesses investing in the omnichannel experience has increased from 20% to more than 80% in 2020.[11]
- Up from only 36% in 2010, more than two-thirds of businesses now compete largely on the basis of customer experience.[11]
- Just 44% of respondents plan to increase their spending on CX efforts.[11]
- PwC polled 15,000 people for their future of cx research and discovered that 1 in 3 consumers would stop using a brand they love after only one unfavorable encounter. At the same time, 92% would entirely give up on a business after two or three negative encounters.[11]
- Due to these extremes, 88% of businesses now place a high priority on customer experience in their contact centers.[11]
- On the other side, 13% of unhappy customers will tell at least 15 other people about their bad experiences.[11]
- Thus, it is not surprising that 84% of businesses that self-identify as customer-centric are increasingly concentrating on the mobile customer experience.[11]
- By 2023, 40% of organizations are anticipated to have used AI, up from the current 25% during the next three years.[11]
- By 2028, the customer communications management market is projected to reach $2,752.4 million, up from $1,325.6 million in 2021. From 2022 to 2028, the customer communications management market share is anticipated to increase at a CAGR of 11.4%.[12]
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How Useful is Customer Communications Management
One of the key benefits of CCM is its ability to enhance customer experience. By utilizing CCM solutions, businesses can deliver consistent and personalized messages to their customers through their preferred channels. This not only helps build trust and loyalty but also ensures that customers feel valued and understood. Whether it’s sending personalized invoices, statements, or marketing materials, CCM allows businesses to connect with their customers in a meaningful way, ultimately improving satisfaction levels and driving repeat business.
Moreover, CCM helps businesses achieve operational efficiency. By automating the process of generating and distributing customer communications, companies can reduce manual errors, eliminate redundancies, and streamline workflow processes. This not only saves time and resources but also ensures that communications are delivered in a timely and cost-effective manner. With the ability to track, monitor, and analyze communication data, businesses can gain valuable insights into customer preferences and behavior, allowing them to further optimize their messaging strategies.
In addition to enhancing customer experience and improving operational efficiency, CCM also plays a crucial role in compliance and risk management. With regulatory requirements becoming increasingly stringent, businesses need to ensure that their communications are accurate, secure, and compliant with industry standards. CCM solutions offer features such as data encryption, digital signatures, and audit trails to help businesses meet regulatory requirements and mitigate risks associated with non-compliance.
Furthermore, CCM enables businesses to adapt to changing market dynamics and customer preferences quickly. With the rise of digital channels and the increasing demand for personalized experiences, companies need to be agile and responsive in their communication strategies. CCM solutions provide the flexibility and scalability businesses need to keep pace with evolving customer expectations and market trends. From integrating omnichannel communication capabilities to implementing AI-driven personalization tools, CCM empowers businesses to connect with customers in a meaningful and impactful way.
Overall, the usefulness of Customer Communications Management cannot be overstated. In a world where customer expectations are continually rising, businesses need to leverage technology to stay ahead of the curve. By implementing CCM solutions, companies can deliver personalized, timely, and engaging communications that drive customer satisfaction, loyalty, and business growth. As such, CCM should be considered an integral part of any organization’s customer engagement strategy, helping businesses foster long-lasting relationships with their customers and differentiate themselves in a crowded marketplace.
Reference
- acquire – https://acquire.io/blog/customer-communication-management/
- opentext – https://blogs.opentext.com/customer-communications-management/
- wikipedia – https://en.wikipedia.org/wiki/Customer_communications_management
- seekingalpha – https://seekingalpha.com/article/4536620-data-communications-management-corp-an-obscure-microcap-bargain
- bls – https://www.bls.gov/ooh/management/advertising-promotions-and-marketing-managers.htm
- docpath – https://www.docpath.com/art-crm-vs-ccm-customer-communications-management/
- globenewswire – https://www.globenewswire.com/news-release/2021/08/31/2288982/0/en/Global-Customer-Communications-Management-Market-By-Component-By-Organization-Size-By-Deployment-Mode-By-End-User-By-Regional-Outlook-Industry-Analysis-Report-and-Forecast-2021-202.html
- helpscout – https://www.helpscout.com/75-customer-service-facts-quotes-statistics/
- marketsandmarkets – https://www.marketsandmarkets.com/Market-Reports/customer-communications-management-market-189040627.html
- smartsheet – https://www.smartsheet.com/content/customer-communication-management
- superoffice – https://www.superoffice.com/blog/customer-experience-statistics/
- yahoo – https://www.yahoo.com/now/worldwide-customer-communications-management-industry-094800934.html