In a recent survey report, GoodFirms uncovers industry demand, current trends, and future prospects, providing valuable insights into the dynamics of customer-centric strategies adopted by businesses.
The research unveils that 53% of surveyed businesses have established dedicated customer experience management teams. Interestingly, 29% of businesses are contemplating the creation of such teams as they expand their customer base, while 17% have yet to formalize plans for a specialized team dedicated to handling customer experience.
"Proper communication with the customer, tracking the conversational history of the customer, having an efficient omni-channel presence, organizational silos, inadequate and flawed data collection, lack of commitment from leadership, and limited funding are the challenges faced by businesses while embracing customer experience strategies," said GoodFirms.
Exploring the realm of customer experience strategies, the survey highlights the diverse approaches adopted by businesses. As many as 79% of respondents prioritize understanding the audience, with 72% emphasizing personalized experiences.
User-friendly UX/UI features are crucial for 63% of businesses, while 62% focus on improved customer support. Other strategies include mapping customer journeys (54%), prioritizing omni-channel presence (32%), and implementing technologies like AI/ML (29%), enhancing social listening (23%).
Benefits of effective CX
Businesses recognize the host benefits of effective customer experience management. Most (91% ) identify higher customer retention as a pivotal advantage, followed by 86% emphasizing improved customer satisfaction, and 81% citing enhanced customer engagement. Additionally, 80% acknowledge that effective CX management builds customer trust, with 72% associating it with a rise in revenue and 67% contributing to an improved brand image. Furthermore, 48% note that it leads to higher customer acquisition.
Future prospects
Looking towards the future, the survey anticipates transformative changes in customer experience management strategies, with 73% of businesses indicating significant efforts underway. Investment in AI tools is on the horizon for 58%, while 47% foresee increased automation. Other potential areas of evolution include the use of IoT and Blockchain (35%) and the introduction of gamification (27%).
The survey underscores the need for businesses to strategically plan customer experience management initiatives, embracing emerging trends and technologies like AI and automation. This proactive approach ensures the delivery of exceptional experiences, customer acquisition, sustainable retention, loyalty, and advocacy in an ever-evolving business landscape.
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