MuleSoft has released a new global study that reveals four out of five consumers continue to receive disconnected experiences from organisations. As a result of this continued frustration, consumers are more willing than ever to seek out new service providers that can deliver connected, personalised experiences. Based on the findings from the Customer Experience and the Connectivity Chasm report, it is clear that organisations 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,” said Simon Parmett, CEO, MuleSoft. “To meet consumer expectations, organisations 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.”
Frustration with disconnected experiences continues
Globally 82% of consumers believe organisations in at least one of the five sectors surveyed – banking, insurance, retail, healthcare and public sector – provide a disconnected experience, failing to recognise 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.
Consumers are conflicted with sharing data to fuel connected experiences
To receive a more personalised 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.
Across industries, consumers want organizations to nail the basics
The report shows that across industries, consumers’ expectations continue to evolve, but getting the basics right is vital to maintain customer satisfaction and loyalty.
The Coherence Economy takes off among millennials
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.
“Organisations must cultivate partnerships to surprise and delight consumers. In the Coherence Economy, organisations need to develop strategies to collaborate with partners in a digital ecosystem and orchestrate personalised experiences for consumers,” said Uri Sarid, CTO, MuleSoft. “In order to innovate at scale and accelerate the delivery of products and experiences to customers, organisations 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.”