Consumers value expertise and connection over speed
Consumers are increasingly valuing expertise and human connection from companies, over speed.
A new report from Twilio in collaboration with Professor Andrew Stephen of the Saïd Business School, University of Oxford, has highlighted the changing behaviours and priorities of European consumers during the cost of living crisis.
It found that efficiency, expertise and emotion are the new building blocks of customer experience, with consumers expecting more interaction from companies, alongside expertise and speed.
25 per cent of the 8,700 people surveyed said that efficiency was the most important priority for them. Another 25 per cent said that emotional connection was the priority. This can mean speaking to a real person rather than using an anonymous web chat. 24 per cent said that expertise was the most important marker of a business.
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“Brands must therefore go beyond just speed and invest in technology to support all three pillars,” the report said.
“This balancing act can be augmented through personalisation, whereby the options for getting in touch are tailored to the needs of the individual in a defined context. In the relationship economy, strong customer connections only blossom when efficiency of response is not merely a knee-jerk first response, and instead is supported by expertise and emotional connection.”
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The report found that UK consumers are more likely to want a connection with their brands than other Europeans. Almost 39 per cent of UK consumers said that brands are harder to reach now than they were before the pandemic. This compares with 27 per cent of French and Spanish consumers, and 25 per cent of German consumers.
Over a quarter (27 per cent) of UK consumers said that they were particularly annoyed by businesses taking too long to provide a response. Meanwhile, 44 per cent said that friendly service was the reason that they chose to use a company again.
“Analysing first-party data to understand what customers truly want and need, and using these insights to personalise service offerings, will help companies to balance efficiency, emotion and expertise,” said Sam Richardson, customer engagement consultant at Twilio.
“Though improving speed through automation could be a ‘quick fix’, those who win in a relationship economy will be the ones who invest in nurturing customers longer-term, and expertise and emotional connection are critical parts of this puzzle.”
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