The value of customer experience in the digital age global version

Click here to view the full research and understand how the C-Suite values customer experience in today’s digital age Global customer experience results Customer experience (CX) encompasses each and every interaction a customer has with a company and its products NOW 56% 43% 41% 39% 47% More profitable CEO leads 15% 28% 59% 40% 64% A growing number of C-suite executives will prioritise investment in customer experience over the next years Increase CX investment more than 10% 63% Better revenue growth 63% NEXT YEARS Better customer experience 64% CEO in 71% charge % 54% 62% Measure success Companies who prioritise future investment in customer experience gain a range of benefits over those who don't prioritise Almost in companies believe their overall customer experience is viewed positively CEO leadership of customer experience linked to better business performance Where does CX responsibility lie? CEO is most likely to lead CX initiatives in all regions apart from Asia-Pacific, where the CIO is most likely to lead CMO CIO 13% 41% Leaders of CX initiatives CEO most likely to have direct control 41% Major benefits of CX investment by company size 40 Asia-Pacific % Latin America % North America % Europe % SMALL $250m or less MEDIUM $250m to $1bn LARGE $1bn or more Improved customer satisfaction % 36 18 17% 52 20 7% 19 16 12 5% 39 COO CMO CXO CEO 17% CEO 17 14 Increased sales % 35% Improved customer retention is cited as the major benefit of CX globally 22 31 29 13% 15 6% 16 14 9 CIO LOB LEADER 10 13 Reduced operating costs % 35 31 Improved customer retention % 33 Lower cost of customer acquisition % Change in CX investment (%) Past years >25% 10 - 24% 16 26 33 12 24 25 28 34 22 Next years 20 26 25 21 13 35 22 16 Latin America 34 22 25 22 20 Face-to-face communication most popular channel today, but online assistance support expected to be in the future 17 30 28 34 4 Asia-Pacific 11 30 33 15 35% of companies in Latin America will boost investment by more than 25% - More than any other region Customer experience which includes digital and in-person channels are very important today and in the next years (%) 31 24 1- 10% About the same Asia-Pacific Latin America North America Europe 37 26 20 24 39 37 31 32 Decrease North America Europe Social media Measuring global CX 49 43 47 42 40 33 38 37 Face-to-face communications 59% Major barriers to measuring CX 54% 47% Access to correlated CX outcome to activity data 49% 42% 13 25 23 22 14 19 15 16 45% 41% 39% 24% 29% 28% 40% 38% 31% Telephone operations 49% 41% Lack of automation of processes 35% 39% 37 36 26 31 39 45 32 40 21% 37% Online assistance support Measurement tools Customer effort score Customer retention rate Customer satisfaction score North American companies least likely to measure the success of CX Customer acquisition cost Customer lifetime value Customer satisfaction score Asia-Pacific more likely to measure success of CX initiatives than Europe or North America Europe 59% Asia-Pacific 66% North America 51% Latin America 67% Revenue improvement Customer retention rate Customer satisfaction score Customer lifetime value Customer retention rate Customer satisfaction score Click here to view the full research and understand how the C-Suite values customer experience in today’s digital age ... any other region Customer experience which includes digital and in- person channels are very important today and in the next years (%) 31 24 1- 10% About the same Asia-Pacific Latin America North... but online assistance support expected to be in the future 17 30 28 34 4 Asia-Pacific 11 30 33 15 35% of companies in Latin America will boost investment by more than 25% - More than any other... least likely to measure the success of CX Customer acquisition cost Customer lifetime value Customer satisfaction score Asia-Pacific more likely to measure success of CX initiatives than Europe