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The Value of Customer Experience in the Digital Age - Global version

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http://www.economistinsights.com/analysis/value-experience

According to the Economist Intelligence Unit Research, The Value of Experience: How the C-suite values customer experience in the digital age, companies that prioritize investment in customer experience (CX) have better revenue growth (59% vs. 40%) and are more profitable (64% vs. 47%) than companies where CX is not a priority.

Explore this infographic to learn how investment in CX is directly and positively correlated with C-level engagement and business performance.

Publié dans : Business
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The Value of Customer Experience in the Digital Age - Global version

  1. 1. A growing number of C-suite executives will prioritise investment in customer experience over the next 3 years Companies who prioritise future investment in customer experience gain a range of benefits over those who don't prioritise Almost 4 in 5 companies believe their overall customer experience is viewed positively Where does CX responsibility lie? CEO leadership of customer experience linked to better business performance Major benefits of CX investment by company size Leaders of CX initiatives CEO most likely to have direct control 79% NOW 63% NEXT 3 YEARS 64% 41% SMALL $250m or less MEDIUM $250m to $1bn LARGE $1bn or more Global customer experience results Customer experience (CX) encompasses each and every interaction a customer has with a company and its products Measure successMore profitable Better customer experience Increase CX investment more than 10% CEO leads CEO in charge Better revenue growth 63% 59% 71% 62% 43% 64% 56% Click here to view the full research and understand how the C-Suite values customer experience in today’s digital age 15% 28% 39% 54% 47% 40% 41% Improved customer satisfaction % Increased sales % Reduced operating costs % Improved customer retention % Lower cost of customer acquisition % 4 14 22 29 35% Improved customer retention is cited as the major benefit of CX globally 3335 31139 10 8 31 5 18 17 CEO is most likely to lead CX initiatives in all regions apart from Asia-Pacific, where the CIO is most likely to lead COO CMO CEO CIO LOB LEADER 7% 6% 13% 41% 17% Asia-Pacific % Latin America % North America % Europe % CXO 5% 20 39 14 9 5 9 4 3 16 15 52 36 40 19 16 129 7 3 9 5 44 8 CEO 13% CIO 17% CMO
  2. 2. 47% 24% 29% 49% 41% 35% 39% 21% 37% 59% 49% 42% 39% 45% 28% 41% 54% 31% 40% 38% Past 3 years Next 3 years >25% About the same Decrease 1-10% 10-24% Asia-Pacific North AmericaLatin America Europe Asia-Pacific more likely to measure success of CX initiatives than Europe or North America Change in CX investment (%) Major barriers to measuring CX Latin America 67% Europe 59% North America 51% Asia-Pacific 66% Click here to view the full research and understand how the C-Suite values customer experience in today’s digital age Measuring global CX Measurement tools Access to correlated CX outcome to activity data Lack of automation of processes Customer effort score Customer retention rate Customer satisfaction score Customer lifetime value Customer satisfaction score Customer acquisition cost Customer satisfaction score Customer lifetime value Customer retention rate Revenue improvement Customer retention rate North American companies least likely to measure the success of CX 35% of companies in Latin America will boost investment by more than 25% - More than any other region Customer satisfaction score Asia-Pacific Social media Latin America North America Europe Customer experience which includes digital and in-person channels are very important today and in the next 3 years (%) 37 26 20 24 39 37 31 32 Face-to-face communications 49 43 47 42 40 33 38 37 Telephone operations 13 25 23 22 14 19 15 16 Online assistance support 37 36 26 31 39 45 32 40 Face-to-face communication most popular channel today, but online assistance support expected to be in the future 13251216 26 26 30 30 34 3124 28 283325 22 34 6 4 4 5 4 7 16 8 22 20152221 3433 22 25 24 1735 1120

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