Consumers say it’s harder to interact with businesses. A Pegasystems survey found that customers believe companies are more interested in technological investments that improve profits rather than enhancing their experience.
Despite investments in technology, customers report that their interactions with companies are worsening. According to a survey by Pegasystems, The Enterprise Transformation Company, and YouGov, more than half of consumers — 56% — say their interactions with businesses are more difficult today than they were a decade ago. Consumers’ top complaint was long wait times, followed by having to repeat the same information to different customer service agents multiple times and representatives lacking the necessary information.
Over three-quarters of respondents believe organizations should invest in improving how they interact with consumers, yet more than two-thirds say that companies’ tech investments are more often about profit than improving customer experience.
Despite these challenges, businesses are under pressure to demonstrate value and reduce costs. Technology investments should not come at the expense of the customer experience, according to Maxie Schmidt, VP and principal analyst at Forrester. Schmidt emphasized the importance of aligning cost savings with customer needs.
Many customers frequently express frustration over long hold times when trying to reach a representative, a top complaint highlighted in recent surveys. Companies often avoid phone calls to cut costs and redirect customers to self-service options. HP, for example, implemented a minimum 15-minute wait time for speaking to a customer service representative to encourage customers in the U.K. and Europe to utilize digital service options.
Neglecting customer experience in the pursuit of cost reduction can backfire, with nearly 40% of customers indicating they would change companies after a poor experience.