Can your customer find the right product in less than 5 seconds? Can you describe your website products in less than seconds? Did you know that 60% of customers leave the website if they can’t find the right product in less than 5 seconds? Can you provide an authentic and effective sales pitch for your website products? Do you know what your customer really wants from your products and services?
Why WhatCustomerWants?
Evolving Customers
83% of global consumers express readiness to ditch one site for another if they can’t find sufficient or satisfactory product information; 88% wont return to the website after a bad experience, 61% abandon website if they can’t find what they need within 5 seconds, 73% think less of a brand if they find incomplete or inaccurate information about its products online, 50% of shoppers abandoned a purchase when they couldn’t find sufficient information about it online.
Massive perception gap between businesses and customer
Add to this an overwhelming evidence about massive perception gap between businesses and customers. 89% of businesses believe they are delivering excellent customer experiences, while only 8% of customers agree, highlighting a significant disconnect. Even the 2023 data states that 76% of C-suite executives are confident in their comprehensive understanding of customers, only 25% of consumers agree with this assessment.
Massive failure rates of digital initiatives and significant alignment gap
Moreover, there is a comprehensive evidence that around 80%-90% of digital initiatives fail (mostly due to internal resistance, data silos, underlying data issues). Studies by MIT Sloan Management Review emphasize that cultural resistance is the primary reason behind digital transformation failures in over 90% of cases. Gartner survey found that 70% of digital transformations fail due to a lack of leadership support and engagement. 83% of executives believe their companies have data silos. 70% of change management programs fail to meet their objectives. 77% of organizations experience data quality issues, with 91% stating that these issues directly impact their company’s performance. A 2024 survey found that 67% of organizations lack complete trust in their data for decision-making, highlighting ongoing data quality challenges. According to a study of about 2,000 companies that was published in Sloan Management Review, 23% of Chief Executive Officers (CEOs) are considered digitally savvy and only 7% of companies were led by digitally competent teams; that is, a team where over half of the members are digitally savvy, with a firm understanding of how emerging tech will shape their company’s success. Only 14% of managers are confident their employees understand the company’s strategy, goals, and direction, highlighting a significant alignment gap. Unsurprisingly, those companies outperformed the rest by 48% in terms of revenue growth and market valuation.
Websites/brands stuck in the mindset of self-perceived excellence, ridden by siloed data, internal resistance, big data issues, vendor data inconsistency, ineffective algorithms, poor AI capabilities, systemic data and website issues.
Reaping the benefits of understanding the customer and improving digital initiatives
C-suite executives who describe their change programs as sophisticated and excellent report ROI of as much as 135%. Companies that are leaders in digital transformation and understanding what their customer wants consistently outperform their peers across several metrics, including revenue growth, NPS improvement, operational efficiency, customer trust, and website abandonment. Digital leaders grow revenue at twice the rate of digital laggards.
Those organizations that understand what their customers want, who can deliver great website content, product unique selling points, product discoverability and provide great customer experience are already widening the gap (trust, conversions, efficiency, revenue) over those companies that are failing to achieve that.
I am here to help
I am here to help – identifying and closing the gap between a business’s current state and its desired state, providing, collecting, analyzing and addressing real time feedback across all business units and customer points, identifying customer pain points, improving data quality, standardize vendor data, streamlining back-end processes, fostering continuous improvement, aligning C-level executives, middle management, and teams behind organizational strategy, aligning company objectives across teams with customer satisfaction goals, building competitive advantage. Improving customer satisfaction, improving issue resolution, increasing customer trust, improving customer experience, boosting purchases, driving higher NPS.