Key findings from the Global CX Benchmarking Report
CX strategy is a key focus area according to the 2017 Global Customer Experience
Benchmarking Report released by Dimension Data.
The 2017 Global Customer Experience (CX) Benchmarking Report by Dimension Data has been released amid much industry expectation and publicity. CEW media partner, cxi.today, recently published a multimedia article and explainer video on the report. You can view the original post here.
A new approach to CX
Of interest is that the research report indicates that just 67% of organisations are tracking customer journeys in some form, but of those, only 44% have automated processes available. Connecting customer journeys is the second top factor to transforming CX in the next five years, but before implementing a digital strategy, organisations need to understand the patterns of their customer journeys and design and personalise them accordingly.
This cannot be achieved without understanding and harnessing mass data. Analytics was voted the top factor that will transform customer experiences in the next five years, yet only 48% have customer analytic systems, and 36% possess big data analytic solutions. The research clearly indicates that organisations need to analyse, or fall behind their competitors.
In addition, CX robotics, in the form of automation, Artificial Intelligence (AI) and IoT are creating a new reality, and demanding a new approach.
Leaders embrace CX…
The uncomfortable truth is that high performing companies that have committed to the opportunity created by the digital revolution are outpacing established market leaders. The benchmark research highlights that top quartile organisations are performing up to ten times better than the typical standard.
Digitisation and digital transformation both accelerate opportunities and cause disruption. Business, service, technology and commercial models have changed and evolved and organisations are strategically challenged to keep pace with customer behaviour.
…But CX delivery is being damaged
There’s an overwhelming appreciation from organisations on the importance of CX, however CX delivery is being damaged by a lack of process management, particularly across the expanding choice of digital pathways. Personalisation, intelligent automation and the ability to connect customer journeys powered by intelligence from analytics, will do most to reshape CX capabilities in the next five years. CX has to adapt by committing to the opportunity created by the digital revolution, yet the transformation and challenge to provide great CX is becoming more complicated.
CX is the top performance measure at board level, where the value of CX is being linked to profitability, revenue increases and operational cost reduction.
Organisations are challenged to effectively cascade strategic intent into digital, contact centre and physical customer execution that drives change in CX outcomes. The report notes that more organisations are focusing strategic transformation on self-service solutions, data analytics, by targeting operating model changes, changing staff skill sets, as well as cost reduction. They do this through the reduction of the organisations’ physical footprint and people costs.
Click here for a free download of the full 2017 Summary Report: https://dimensiondatacx.com
cxi.today strategically partners with Dimension Data
cxi.today has strategically partnered with Dimension Data to publish commentaries, multimedia articles and explainer videos for our online, digital and social channels. These will be supported by a series of knowledge leadership webinars to unpack key findings of the report during the course of this year.
CX patterns and personalisation
Connecting customer journeys is the second top factor to transforming CX in the next five years, but before implementing a digital strategy, organisations need to understand the patterns of their customer’s journeys, and design and personalise them accordingly.
At Customer Experience World we cover all aspects of how to implement successful customer experience transformation, using various tools and techniques, to better understand your customers in order to build loyalty.