Blog post

Wallets are Opening for CX Technology

By Jenny Sussin | June 13, 2019 | 0 Comments

cxcustomer experienceCustomer Analytics, VOC and InsightsCRM Strategy and Customer Experience

Well ladies and gentlemen, two things we need to address to start this post:

  1. That whole goal I had about maintaining a regular blogging schedule? Out the window.
  2. That thing that has been a top 5 C-level priority for the past few years, “customer experience,” is getting a lot of tech investment.

Our latest survey (client access only) analyzed by four of our customer experience (CX) analysts: Olive Huang, Ed Thompson, Nick Ingelbrecht and Melissa Davis, gave us some great new data showing that wallets are opening for CX technology.

  • 75% of organizations we surveyed have increased their CX technology investment in 2018, as compared to 2017
  • Organizations are most focused on getting CX metrics right and listening to the Voice of the Customer (VoC) which means investing in customer analytics applications
  • Organizations maturing in their CX improvement journeys are much more likely to invest in all types of technology, not just traditional CX tech, to further their momentum.

On that last note, in 2018 the five biggest monetary investments in CX improvement projects were:

  1. Customer analytics (no surprise there…)
  2. Voice of the Customer (VOC…also not surprising…)
  3. Employee learning and training tools (well hello…)
  4. Master data management (pardon me?)
  5. Business process management (interesting…)
  6. Sales force automation (had to give you six, we had a three way tie.)

Higher investments in technology from all angles…now it is up to IT leaders and CX leaders to make sure these days of investment see long term pay off. The survey in question has a lot of data that is equally telling re: the high-stakes situations organizations are facing which challenge their CX investments. So my message to IT and CX leaders…

Make it count, make it now.

And if you’re in Australia, you can get more of this info next week at our CX Summit in Sydney!

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