Observed Signal · Nov 28, 2022 · Analysis · Source: CMSWire · Impact: 2/5 · Sentiment: Negative
CX Investments Fail to Boost Satisfaction and ROI: Four Reasons
According to CMSWire, many companies have increased customer experience (CX) technology investments, yet customer satisfaction continues to decline. An ACSI report found customer satisfaction at its lowest level in 17 years, with the decline strongly correlated to lower consumer spending. The article outlines four reasons CX investments are failing to deliver ROI: failure to involve all departments in CX strategy, rushing implementation of CX solutions at the expense of user experience design, conflating customer satisfaction with CX, and relying on incomplete data for AI-based solutions. Experts from Brandwatch, WalkMe, CallerSmart, and Spitch.ai contributed insights. They emphasize the need for organizational alignment, proper onboarding, human integration with automation, and flexible data strategies. The article concludes that deploying technology alone does not create ROI without sound strategy before, during, and after implementation.
Relevant to MarTech/CX industry: highlights systemic issues with CX technology ROI based on ACSI data and expert commentary, but is not an industry-shifting news event.
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Key Takeaways & Evidence Grounding
- ACSI reported customer satisfaction fell to its lowest level in 17 years.
- The decline in customer satisfaction is strongly correlated with lower consumer spending, according to ACSI data.
- Rebecca Gutner of Brandwatch said companies must embed CX culturally across all departments, not just customer-facing teams.
- Derek Adams of WalkMe said contact center vendors prioritized time-to-market over user experience design.
- Piergiorgio Vittori of Spitch.ai warned that incomplete data used in AI solutions can lead to costly redesigns and missed ROI.
Connected Companies & Entities
1 Entity mapped“Rebecca Gutner, Brandwatch senior vice president of CX, said simply throwing money at CX is never enough....”
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