Study shows: False promises cost companies customers 

For the study, Qualtrics, a provider of experience management systems, surveyed more than 500 consumers in Germany about their opinion of customer and brand experiences. Half of those surveyed stated that they had stopped buying from a manufacturer because the customer experience they had experienced did not match the brand promise. The main reason cited by respondents was product quality (68 percent) - followed by poor customer service (62 percent) and a mismatch with the company's vision, values or stance on social issues (40 percent). "An excellent customer experience is crucial to the success of a brand," says Martin Meyer-Gossner, Experience Scientist at Qualtrics. "The brand is defined by everything the company does. It is embodied by the product and the customer journey and implemented by the employees. Take a delivery service, for example. If the delivery window is not met, it affects the experience with a brand." The importance of the customer experience for the brand is also made clear by the factors that will strengthen trust in the brand in 2022: customer service ranks just behind appropriate pricing, followed by concern for employees and not taking advantage of crises for one's own company. Going above and beyond the recommended safety standards rounded off the top five. For companies looking to stay relevant in an increasingly competitive market, the quality of products and services (74 percent) and customer service (59 percent) have more influence on consumers than marketing and advertising (43 percent) and social media presence (34 percent). "Understanding a company's purpose and communicating with its workforce is key to a good brand and customer experience. A company must have the right systems and processes in place to achieve this. The next step is to identify the moments in the customer journey that have the biggest impact on customer behavior. With these insights, companies can fulfill customers' wishes - exactly when it matters most. A brand's purpose, promise and values should be embedded in everything it does," adds Meyer-Gossner.   Do not underestimate ratings Companies should not underestimate the importance of reviews. 95 percent of people have read a review before buying from a new vendor. If there was a bad review, 62 percent of people would probably not buy.