Customer experience activities have always been an inevitable part of a company's investment, for after all its customers that make or break the company. Strangely though in 2011, only 46 percent of the 152 companies surveyed, decided that it was important enough to spend on.
But all of a sudden, companies have woken up to the fact that it's 'do or die,' and according to Temkin Group, there has been resurgence in 'dedication to customer experience and an increase in customer experience (CX) management activities and efforts in 2014.'
"We're seeing a surge in customer experience activities. More executives are recognizing the link between customer experience and loyalty which is leading to more investments in 2014," stated Bruce Temkin, managing partner of Temkin Group.
In its newly released research, 'Customer Experience Plans and Expectations for 2014,' the research firm attempts to portray how plans about customer experience compare to studies over the last three years. A large majority of respondents (87 percent) claimed that their CX investments were rather productive in 2013, while 99 percent were highly optimistic about the positive impact it would have in 2014.
According to the study, there seems to be no doubt that CX has grown in stature, and is more important today than it ever was during the previous three years. That's why more than 60 percent of the surveyed companies expect to increase their spend in the current year. CX consultants are going to be in more demand as are text analytic vendors, and customer experience measurement and metrics will get top priority in 2014.
The Web promises to retain its grip as the primary interaction channel, closely followed by mobile. CX executive dashboards and customer journey mapping are going to get a lot of attention, while staffing levels are going to be boosted with 42 percent of respondents already having more than 10 full time professionals in their customer experience organizations and growing.
At last, many companies have realized that there is indeed a link between customer experience and business results – something that they should have been alerted to a long time ago. After all, customers form the basic premise of success: create good customers and you get loyalty and referrals in return – a simple age old formula that has remained unchanged over the years.
And yet, CX has never got the kind of treatment that it deserves. Well, better late than never.
Edited by Cassandra Tucker