Global Study Reveals Over 90% of Organizations are Missing Key CXM Capabilities to Drive Business Results
Research Highlights How Companies Are Approaching Customer Experience Management and the Technology Challenges They Face
86% Of Respondents Would Implement a Unified Customer Experience Management Platform If It Was Made Available to Them
Sprinklr (CXM), the unified customer experience management (Unified-CXM) platform for modern enterprises, released the results of its commissioned study conducted by Forrester Consulting to explore how decision makers are using data insights to deliver better customer experiences.
“Organizations understand that insight-driven strategies are the key to successful customer experience management, yet it’s surprising to see how many are challenged with siloed data, inefficient processes, and a disconnected stack of customer experience tools”
The study,Boost Customer Experience Success With A Unified Approach, reveals that customer experience (CX) is a priority for 82% of decision makers, yet over 90% said they are missing key capabilities in their current technology stack to support a CX strategy that drives business results. These key capabilities include advanced AI to manage risk and efficiency, better data privacy, and ability to share insights with different customer-facing departments.
Additional key findings after surveying more than 300 global decision makers:
- Companies don’t have effective customer experience management technology. As a result of missing key capabilities in their tech stack, nearly 50% of respondents said that current tools don’t provide a comprehensive, single view of the customer and nearly 50% said they don’t have a great way of understanding unstructured data (blogs, forums, ratings, reviews, social media mentions).
- Companies are struggling to deliver great customer experiences. Over 70% of customer experience decision makers said that quickly resolving customer issues across digital channels and acting on competitive insights was very important. Yet less than 30% said that their organizations execute these capabilities well.
- 86% of respondents would implement a unified customer experience management platform if it was made available to them. Respondents said that a unified CX management platform would yield a competitive advantage and untapped business benefits.
“Organizations understand that insight-driven strategies are the key to successful customer experience management, yet it’s surprising to see how many are challenged with siloed data, inefficient processes, and a disconnected stack of customer experience tools,” said Ragy Thomas, Sprinklr Founder & CEO. “As the Forrester study showcases, organizations have a tremendous opportunity to invest in unifying their CXM strategy in order to make their customers happier and ultimately grow their business.”
Recommended AI News: Vista Equity Partners Expands Team With Experienced Communications Executive