UserTesting and FORTUNE Brand Studio Survey 200 Global CEOs to Understand the Role Customer Empathy Plays in Overall Business Success
April 06 2022 - 9:00AM
Business Wire
Seventy-nine percent of CEOs state customer
empathy fuels financial performance
UserTesting (NYSE: USER), a leader in
video-based human insight, today released the findings of a survey,
in partnership with the FORTUNE Brand Studio, titled The ROI of
Customer Empathy. The survey looks at the role CEOs play in
building a culture of customer understanding and the impact
customer empathy has on driving innovation, digital transformation,
financial performance, and ultimately business success.
In a business world where customer sentiment and loyalties can
shift overnight, the C-suite has quickly realized that getting
customers to stay long-term with their companies now requires an
authentic demonstration of customer empathy. Today’s CEOs are
realizing that being empathetic to their customers is now a key to
their organization’s success.
The ROI of Customer Empathy survey revealed several key trends
including:
CEOs agree that attention must be paid to customer
empathy
- A key takeaway noted that CEOs recognize the impact that
empathy has on the customer experience (CX) with just over half (55
percent) stating acknowledging that high-quality in-person
experiences are the top priority for them as leaders. Although
priorities across industries differ, the research shows there is a
clear recognition that securing strong personal relationships and
supporting empathetic interactions are top of mind for business
leaders. The CEOs surveyed acknowledged that accountability starts
at the top. Forty percent indicated that they are personally
responsible for ensuring that customer understanding underlies the
entire process, everything from designing products, through taking
them to market, to building great experiences. Additionally, 90
percent understand that they will need to make better use of
empathy to interpret customer information and drive customer-facing
processes.
Designing better products and experiences takes deep customer
understanding
- The survey found that CEOs consider customer understanding to
be critical for teams involved in marketing/brand-building (38%),
operations/production and design/prototyping (38%), and product
ideation (26%). To win new consumers and maintain existing
customers, organizations need a deep understanding of customer
needs, expectations, and feelings. Leaders keenly attuned to the
customer journey can glean more than just transactional material
from the information they gain from tracking that journey; they can
use it to design more successful products and services.
Direct interaction is the best way to gain customer
insights
- The level of a company’s CX maturity was shown to have a direct
impact when it comes to selecting the most important means of
helping employees demonstrate customer empathy. The research found
that CEOs with mature CX organizations think beyond data capture
and more frequently turn to technologies for sharing customer
information and insights across the organization. The CEOs surveyed
ranked direct interaction with customers as most important overall
at 45 percent, followed by customer feedback reports and market
research reports, tied at 35 percent.
“The research reflects what we see every day with our customers.
Empathy is having a greater and greater impact on overall business
outcomes,” said Andy MacMillan, CEO of UserTesting. “CEOs must lead
the effort to make sure every employee has access to the human
insights they need to truly understand their customers. As we see
from the findings of this report, CEOs need to be the stewards of
customer empathy and foster a company culture ingrained in customer
feedback.”
To access The ROI of Customer Empathy report, click here.
Methodology FORTUNE Brand Studio and UserTesting
conducted an online survey of 200 CEOs in October 2021. All
respondents were located in North America, Europe, and the
Asia-Pacific region. Of these, 60% were CEOs of small-and
medium-sized companies (up to 250 employees and 251 to 1,000
employees, respectively), and 40% led large enterprises with more
than 1,000 employees.
About UserTesting UserTesting (NYSE: USER) has
fundamentally changed the way organizations get insights from
customers with fast, opt-in feedback and experience capture
technology. The UserTesting Human Insight Platform taps into our
global network of real people and generates video-based recorded
experiences, so anyone in an organization can directly ask
questions, hear what users say, see what they mean, and understand
what it’s actually like to be a customer. Unlike approaches that
track user behavior then try to infer what that behavior means,
UserTesting reduces guesswork and brings customer experience data
to life with human insight. UserTesting has more than 2,300
customers, including more than half of the world’s top 100 most
valuable brands according to Forbes. UserTesting is headquartered
in San Francisco, California. To learn more, visit
www.usertesting.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220406005476/en/
UserTesting, Inc. Chris Halcon 415-699-0553
chalcon@usertesting.com
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