The Customer Experience (CX) movement got its start around the year 2000, then really took off about five years later. CustomerThink published the industry’s first global CX study in 2006, and has been researching best practices ever since.
Last year, a CustomerThink study found 70% of CX initiatives are at risk of failing and losing funding by not proving business value. While eight out of 10 companies want to “compete based on customer experience,” only 7% of CX initiatives are able to achieve competitive differentiation. Less than one in four (23%) reported tangible benefits from CX improvement efforts.
This study will provide quantitative data about drivers of CX success and failure, with recommendations on how to choose the right path forward. The research will analyze the impact of the these factors:
- Focus on improving complete customer journey vs. touchpoints
- Maturity level of customer-centric practices
- Technology usage for customer listening, analytics, and engagement
- Management support and employee engagement
- Degree of focus on major loyalty drivers (solution, interactions, price)
Data will be collected from 500+ CX practitioners globally. Key outcomes of this study will be 1) profiles of the major types of CX initiatives; 2) analysis of what is driving or undermining success; 3) recommended actions, tailored to the type and maturity levels of CX programs.
In short, this study will provide a sorely needed roadmap of the critical few things that CX leaders must focus on to deliver the experiences that customers value while creating the value business executives expect.
This study is supported by an elite Advisory Council of industry experts:
- Dave Fish, CuriousityCX (CX)
- Amanda Forshew, Customer Alignment (CX)
- Ian Golding, Customer Experience Consultancy Ltd (CX)
- Bob Hayes, Business Over Broadway (VoC Analytics)
- Lynn Hunsaker, ClearAction Continuum (CX)
- Sampson Lee, Global CEM (CX)
- Gautam Mahajan, Customer Value Foundation (Customer Value)
- Nancy Porte, CCXP, Verint (CX)
- Bill Price, Driva Solutions (Contact Center Analytics)
- Ernan Roman, ERDM (VoC Marketing)
- Chris Ryan, Fusion Marketing Partners (B2B Marketing)
- Krista Sheridan, TELUS (Employee Engagement)
- Barry Trailer, SalesMastery (B2B Sales)
- Jeremy Watkin, FCR (Customer Service)
- Thomas Wieberneit, aheadCRM Ltd (Customer Engagement)
If you’re interested in supporting this research, please contact me to discuss options.