Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business. You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy.

Get it on Amazon (Kindle/Print)

Only 40% of companies think they're good at personalisation

Can technology help us respond better to customer needs?

The research report, entitled 'Innovation Index: Digital Strategies for an Era of Constant Disruption', surveyed 1,000 business and IT executives across 16 industries to examine the external forces and digital trends driving their business. Out of the findings, 66% said increasing customer satisfaction is their number one priority, but 57% believe their biggest challenge to providing high-quality customer experiences is that customer wants and needs change too quickly.

"Your customers don't have to be a mystery to you," said Lisa Woodley, Vice President of Digital Experience at NTT DATA Services. "If your customers' wants and needs are changing too quickly, it tells us that you don't know them very well to begin with. Organizations must prioritize personalization using data insights and AI to inform experience delivery, as well as modernize their applications strategy."

Only 39% of executives consider digital experiences to be critical to satisfaction and loyalty, but 66% said increasing customer satisfaction is their number one priority, highlighting a lack of connection between customer loyalty, digital experience and customer satisfaction.

Technology enables customer loyalty and satisfaction
Customers want speedy, friction-free personalized service at their fingertips. The study shows that speed of service and quality are the top two critical factors for ensuring customer satisfaction. Mobile apps are especially useful in achieving this, with almost 60% of organizations that have adopted mobile apps saying they see value in improving experiences. Additionally, 59% have improved customer satisfaction and 15% have helped to increase customer loyalty with the use of mobile apps.

Loyalty goes beyond just mobile apps though. While emerging technologies hold much potential to drive loyalty, adoption of these technologies varies amongst leaders. For example, only an elite group of just 6% of leaders use artificial intelligence- Internet of Things and predictive analytics - to improve the customer experience by supporting customer-facing processes and services. The research shows these efforts are paying off, with these leaders 35% more likely to report annual revenue growth of 5%.

Data as an asset, privacy and security are table stakes
Protecting customer data continues to be a top priority, and 95% of those surveyed report their organizations are either somewhat or highly effective at maintaining trust in privacy and security. But, only 24% of respondents say they're highly effective at sharing data with partners, which means they miss out on opportunities to build connected experiences and gain more complete customer profiles through shared data.

Data quality is another pressing concern many leaders face, with only 30% stating they believe the data they collect from customers is useful. Additionally, nearly one-third say a growing unwillingness by customers to share their information is a challenge to effectively using that data to improve experiences.

"Organizations that want to implement successful digital experiences must focus on putting customers first, doubling down on actionable data and connecting the customer ecosystem for real-time journey management," concluded Woodley.

Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business.

You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy. Grab this goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, technologies, research, suppliers and partners, plus all the supporting arguments you need to build a solid CX strategy.

While most marketers could list maybe a dozen key points for improving their brand's Customer Experience (CX), the researchers and writers at The Marketing Factbook have identified FORTY main 'CX Keys' which will help you drive your customers to new levels of delight, loyalty, advocacy and profitability.

The areas in which customers have direct contact with your organization are perhaps the most obvious places in which CX improvements can be made, and this report addresses all 24 of these 'Direct CX Keys', applicable to offline and online businesses alike.

At the same time there are many other areas that indirectly affect CX (such as the supply chain, policies and processes) in which every business can make simple but far-reaching improvements. This report guides you through the problems and solutions for all 16 of these 'Indirect CX Keys', many of which are often forgotten or under-played even in the best CX strategies.

Get it on Amazon (Kindle/Print)