Observed Signal · Sep 18, 2023 · Editorial · Source: CMSWire · Impact: 2/5 · Sentiment: Positive
CX Pros' Influence Expands, But Siloed Programs Persist
This editorial explores the growing influence of customer experience (CX) professionals while highlighting organizational hurdles. It emphasizes that effective CX management boosts revenue, citing PWC's finding that 86% of buyers will pay more for a great experience. Despite increased budgets and headcount, CX programs often operate in silos with isolated data systems, hindering cross-functional collaboration. The article advocates for an integrated CX approach, particularly leveraging contact center insights for real-time sentiment, which can improve products, services, and employee engagement. It references research from IDC, Forrester, and Qualtrics to support the business case for CX, while acknowledging challenges in driving behavioral change and gaining support from other teams.
Editorial on CX management, relevant to MarTech but not a specific industry-shifting event.
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Key Takeaways & Evidence Grounding
- 86% of buyers are willing to pay more for a great customer experience (PWC research).
- IDC predicted CX-related spending would cross $600 billion.
- 64% of CX leaders expect budget increases for CX initiatives in 2024 (Forrester).
- Brands with high employee engagement have a 24% higher Net Promoter Score (Qualtrics research).
- CX programs often function as siloed units with their own data systems and roadmaps.
Connected Companies & Entities
4 Entities mapped“According to PWC's research, 86% of buyers are willing to pay more for a great customer experience....”
“IDC predicted CX-related spending would cross the $600 billion threshold....”
“64% of CX leaders told Forrester they expect a boost in their budgets for CX initiatives in 2024....”
“Qualtrics research shows that brands with high employee engagement have a 24% higher Net Promoter Score....”
Ontology Mapping & Concepts
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