MuleSoft has released a new global study that reveals four out of five consumers continue to receive disconnected experiences from organizations. As a result of this continued frustration, consumers are more willing than ever to seek out new service providers that can deliver connected, personalized experiences. Based on the findings from the Customer Experience and the Connectivity Chasm report, it is clear that organizations must deliver the connected experiences consumers expect or risk losing their loyalty and business.
"Globally, consumers are feeling the effects of data silos that create disconnected experiences. To meet consumer expectations, organizations must integrate disparate data sources to better understand their customers and make every touchpoint an opportunity to earn loyalty and add value. With the help of APIs and API-led integration, brands can position for future innovation, create more meaningful relationships and earn customer trust," said Simon Parmett, CEO, MuleSoft.
Globally 82% of consumers believe organizations in at least one of the five sectors surveyed – banking, insurance, retail, healthcare, and public sector – provide a disconnected experience, failing to recognize preferences across touchpoints and provide relevant information in a timely manner. This figure indicates a lack of improvement in customer experience (81% in 2018) and is pushing consumers to consider new service providers.
To receive a more personalized experience, 61% of global consumers would be willing for service providers in at least one of the sectors surveyed – banking, insurance, retail, healthcare, and public sector – to share relevant personal information with partners and trusted third parties.
The report shows that across industries, consumers' expectations continue to evolve, but getting the basics right is vital to maintain customer satisfaction and loyalty.
Consumers are starting to become more familiar with engaging multiple service providers through one application or experience. Common experiences like using a music streaming service via a ride-hailing app and integrating multiple financial accounts into a planning app are part of the broader Coherence Economy – a new approach to customer engagement where multiple brands partner to add value through an ecosystem approach.
"Organizations must cultivate partnerships to surprise and delight consumers. In the Coherence Economy, organizations need to develop strategies to collaborate with partners in a digital ecosystem and orchestrate personalized experiences for consumers. In order to innovate at scale and accelerate the delivery of products and experiences to customers, organizations will likely need to leverage a majority of third party services. By leveraging an API-led approach to integration, brands across all industries can easily connect their applications, data, and devices to provide a holistic view of the consumer and easily empower new, connected experiences," said Uri Sarid, CTO, MuleSoft.
This global survey was commissioned by MuleSoft and independently carried out by Opinium Research. The total sample size was 9,030 adults: U.K. (2,002 adults), U.S. (2,003 adults), Germany (1,000 adults), France (1,002 adults), Australia (1,000 adults). Singapore (1,010 adults) and Japan (1,013). Demographic split 18-34 years-old (2,084 adults), 35-54-years-old (3,410 adults) and 55+ years-old (3,536 adults). Fieldwork was undertaken online between 15-22 August 2019. The figures have been weighted and are representative of adult populations (aged 18+).
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