Recession, inflation, the energy crisis: Current events are throwing everyone for a loop, but the most savvy business leaders are dusting themselves off, hunkering down, and strategizing like their bottom line depends on it. Their guiding light in dark times? Data, data, and more data. We all know numbers don’t lie, so here are 23 of the most important trends and stats to know in ‘23.
With uncertain budgets, customer retention is everyone’s #1
The reasons for economic downturns may vary, but their consequences rarely do. It's indisputable that most businesses across the world need to tighten their belts right now. And focusing on customer retention (over acquisition) is one of the most tried and tested ways to ensure continued profitability.
- The majority of business leaders that responded to our annual trends survey say that customer retention is the #1 change they want to implement next year.
Ultimate's 2023 Customer Service Trends Guide, 2022
- 82% of customers say a positive customer service experience makes them more likely to purchase again.
Salesforce, 2022
- Customers are 2.4x more likely to stay with a brand if their problems are solved quickly
Forrester, 2021
Customer support centers aren’t just saving costs – they’re bringing in hard cash
Long gone are the days of reactive-only support. Today, companies are squeezing every last drop out of the natural touch points their support teams already have with customers. The most forward-looking among them are educating support agents about their products, letting them join the CX not only post-sales but before buying decisions are made, and incentivizing agents to sell, not just problem-solve. And they’re realizing that retaining agents is just as valuable to their business as creating loyal customers.
- Disengaged reps are 84% more likely to look for a new job than engaged reps, and the average turnover cost for one agent is $14,113.
Gartner, 2021
- Companies viewing customer service as a value center vs. a cost center achieve 3.5x more revenue growth.
Accenture, 2022
- 36% of business leaders are seeing direct revenue generation with support automation.
Ultimate's 2023 Customer Service Trends Guide, 2022
Nope, customers don’t want to get right back to you: They’re now into asynchronous comms
Both our work and private lives have shifted away from real-life, session-based communication to conversations that play out over minutes, days, or even weeks -- also known as asynchronous messaging. Customer support has adjusted, with channels like email and social messaging making brand interactions as convenient as possible for consumers.
Trust in AI & automation continues to rise…
If the recent rise of ChatGPT taught us anything, it's that people are increasingly blown away by what AI is capable of, and as AI automation technology continues to evolve, so does the cultural discourse around it. Nuanced discussions around costs and benefits have replaced moral panics around job losses and machines taking over the world.
…especially in unexpected industries
When people think of AI automation, they think chatbots. And when they think chatbots, they think ecommerce. But as automation continues to prove how it can pair low expenses with high ROI, it has recently been wowing CX directors in unexpected fields.
- In 2018, manufacturing and risk were the two functions in which the largest shares of respondents reported seeing value from AI use. Today, the biggest reported revenue effects are reported in the finance sector, and respondents report the highest cost benefits from AI in supply chain management.
McKinsey, 2022
- Mobile banking apps will be the dominant channel for IVA-driven customer communications in 2023, accounting for 79% of successful interactions in 2023.
Juniper, 2022
- The healthcare automation market is expected to grow to $81.62 billion in 2026 at a CAGR of 9.4%.
The Business Research Company, 2022
CX careers become more important (and rewarding)
CX is as important, if not more important, than product quality or price. And business leaders are increasingly hiring the most creative thinkers and experienced professionals to supercharge their support strategies.
In customer support, behind-the-scenes automation is helping businesses do more with less
We can’t say it enough: Virtual agents are great, but they are just the tip of the iceberg when it comes to the myriad ways that automation can save businesses money and even actively generate revenue. Among the most overlooked secrets to success: ticket automation, which instantly routes requests to the right rep, and backend integrations, which drive up personalization and no-touch resolution rates.
When everything seems up in the air, it's good to remember that there are things you can predict with a certain level of certainty. Keep the above customer service statistics in mind when building your CS strategy for 2023, and we promise you'll emerge from the current climate thriving, not just surviving.
