Most SME businesses appreciate how critical CX is for a brand, with almost two-thirds (58%) reported that ensuring a positive CX is a high or top priority for the business. When asked about the biggest drivers for a positive CX, the majority point to the implementation of omnichannel messaging.
According to the study by Mitto, more than two-thirds (68%) of SMEs believe that access to this technology is vital and that the coming year will demand new communication strategies. In 2023, more than half (55%) are preparing to incorporate new omnichannel technology.
For the brands that are not yet planning to integrate omnichannel messaging into the business, a lack of knowledge about the technology (31%) or uncertainty regarding which channels to prioritize (28%) were disclosed to be the two most common barriers to deploying.
When looking deeper into how smaller brands view themselves against enterprises, SMEs showcase a higher level of customer satisfaction as one of the most significant indicators of a positive CX (with 32% reported). For SMEs who believe their CX was less effective than an enterprise competitor, more than one-third said the biggest hurdle was less budget available, while 30% attributed the gap to a lack of access to the same technology that enterprises have.
60% of them also understand that CX directly affects a brand’s level of customer loyalty, which could ultimately impact the business’ bottom line. More than one-third of SMEs said its customers would either return a product or cancel a service if a negative situation was experienced.
While a negative CX could lead to a loss of customers, more than half of SMB brands recognize that they may only have two chances to create a positive experience before they lose a customer, whereas 31% believe they only have a single instance.
Additional the study also finds that social media remains a top communication opportunity for SMEs, with 40% reporting that these channels are where most customer engagement takes place. Almost one-quarter of SMBs reported their customers would never do business with the brand again if they had a negative CX.
“SMEs know the importance of positive CX better than anyone and recognize that a brand has limited chances to create these positive experiences before they risk losing the customer completely,” explains Andrea Giacomini, CEO of Mitto. “Mitto is uniquely positioned to enable any business, regardless of size, to deliver superior CX. While almost half of SMBs are incorporating omnichannel messaging across multiple channels, many are under the incorrect assumption that this technology is out of their reach due to a lack of budget or skill. When in fact, many omnichannel solutions are able to be deployed at a reasonable cost, quickly and with little training required.”