Dial back two years. Customer experience (CX) technology emerged as the #1 investment priority for businesses. In 2016, it became a critical factor to beating competition – Ventana Research found that CX is overtaking service, product, and brand value as the key way to attract and keep customers. Today, it remains a hot topic and business goal, but the reasons why are changing. Here are 8 things you need to know as a CX leader right now.
Walker’s Customer 2020 report predicts that by 2020, CX will overtake price and product as the key competitive differentiator.
Gartner predicts that in less than 3 years, 85% of customer-brand relationships will be managed without interacting with a human.
According to Forrester, 42% of service agents aren’t able to efficiently resolve issues because of disconnected systems. By blending data collected across departments, any employee will be able to speak to customers in a relevant, contextual way – any time.
There have already been huge shifts in business’ investments in it – a 300% increase in 2017, compared to 2016.
By the time a customer gets in contact with a business to purchase, they’re already 57% complete with a purchase decision.
Aberdeen found that companies with strong omnichannel engagement strategies retain about 89% of their customers.
According to HBR, 73% of salespeople that adopt social selling outperform peers and exceed their quotas 23% more often.
Companies lose more than $62 billion because of poor customer service. But, by maximizing customer satisfaction across the buyer journey, McKinsey & Company found businesses increase total customer satisfaction by 20%, and drive revenue growth by up to 15%.
Interested in learning more about why your business needs to invest in CX? Read 3 Areas of Customer Experience to Invest in Right Now.