Nextiva has released new insights into the current trends and challenges facing customer experience (CX) professionals, following a comprehensive survey of over 1,000 CX leaders across the United States, United Kingdom, and Canada.
The survey, conducted in partnership with market research firm Dimensional Research, highlights a significant shift in how customer experience is perceived within businesses. Once regarded as a cost centre, CX is now seen as a pivotal factor in driving revenue, with company leadership increasingly recognising its importance and approving more investments in this area.
A staggering 96% of CX leaders report that their corporate leadership considers CX to be a key driver of business outcomes. Additionally, 79% confirm that their leaders view CX as a crucial revenue driver, leading to a greater ease in securing funding for CX initiatives compared to five years ago, as evidenced by 67% of respondents.
Technological advancements have considerably influenced the evolution of CX's role within businesses. Nearly half of the respondents (47%) attribute the improved ability to measure the impact of CX through metrics like Customer Lifetime Value (CLTV), Customer Acquisition Cost (CAC), and retention rates as a reason for its enhanced perception. Moreover, 43% cite the implementation of new technologies, and 42% point to a general change in industry attitudes as contributing factors.
Despite significant technological adoption, many teams face challenges with tool overload, handling an average of over six different tools to interact with customers. A consolidated system is desired, with 81% of CX professionals indicating that centralising customer data would enhance their ability to deliver better experiences.
The survey found that 92% of businesses have embraced artificial intelligence (AI) for customer experience, yet only 9% describe their AI adoption level as mature. The primary driver for AI investment is revenue generation, cited by 54% of respondents, followed by process improvement (46%) and customer demand (40%).
However, issues with AI integration persist, particularly concerning the handover between AI and human agents. Almost all CX leaders (98%) acknowledge the importance of seamless transitions, but 90% report challenges in achieving frictionless handovers. The barriers identified include employee resistance (36%) and customer resistance (29%), alongside technology issues such as lack of integration (29%) and legacy systems (27%).
"Customer experience is recognised as a strategic investment on the c-suite agenda," stated Tomas Gorny, CEO and Co-Founder of Nextiva. "But to truly capitalise on CX as a revenue driver, businesses need to overcome tech-debt, accelerate AI adoption and focus on harmonising AI and the human touch. The emphasis should be on simplifying operations, consolidating technologies and creating seamless, personalised experiences for customers. Companies that embrace these trends will be rewarded with the loyalty of customers whose expectations continue to rise."
The report recommends balancing AI and human interaction across different touchpoints, aiming to create customer experiences that do not feel disjointed. Understanding and addressing these challenges will enable businesses to improve their customer engagement strategies effectively in an increasingly competitive market.
