ServiceNow (NYSE: NOW) shares give back ground Wednesday, as the leading digital workflow company making the world work better for everyone, released the ServiceNow Consumer Voice Report 2024, which reveals a staggering 74% of Canadians surveyed are less loyal to brands than they were two years ago, emphasizing the need for businesses to enact changes to drive customer retention. Key insights emphasize Canadians’ desire for improved customer service experiences including quick, real-time customer support, choice of engagement method, and personalized interactions, highlighting the potential for AI-powered customer service.
Poor customer experiences are estimated to cost organizations $3.7 trillion annually worldwide. To sustain market share and relevance, brands must meet customers’ evolving preferences. Canadians want to purchase from companies that offer a seamless experience that combines the personalized human element with the convenience and speed of technology. The report shows nearly all Canadians (92%) want quick, real-time support, with more than half (53%) wanting 24/7 customer service by 2025.
But despite immediacy and availability being a top priority, Canadians today are spending a significant amount of time with customer service. The report highlights the potential for AI to play a critical role in improving service delivery, addressing customer frustrations over prolonged call times, and meeting the demand for always-on customer service.
NOW shares ditched $14.12, or 1.8%, to $768.10.
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