CX leaders bullish about budgets and planning for big tech investment, finds new MyC research

New MyCustomer research has found that, despite the global economic uncertainty, customer experience professionals are optimistic that their CX programmes will remain well supported and resourced, with many expecting tech investment to rise over the next 18 months. 

However, CX leaders acknowledge that the economic instability is a concern, and anticipate that demonstrating their programme’s financial contribution to the organisation will become more important this year. 

The new research report - CX leadership in an uncertain economy: A customer experience survey - replays the findings of a survey of 150 senior customer experience professionals, conducted earlier this year to find out how customer experience programmes, strategies and resourcing is evolving under the pressures of economic volatility. 

Produced in collaboration with the European Customer Experience Organization (ECXO), the results are also compared with previous study findings from MyCustomer research from 2020 and 2022 to identify trends. 

Amongst the main findings are: 

• Despite the difficult economic conditions, almost half (43%) of CX leaders forecast that their budgets will rise in the next 18 months. Only 14% expect a decrease in their CX programme budget. 

• Nearly half (46%) of customer experience leaders anticipate that their investment in CX technology will rise in the next 18 months. Only 8% of customer experience leaders expect their spending on CX technology to decline.

• But despite the general optimism around CX budgets, there is some concern about what the financial future may hold, with 39% reporting that budgets and investment could be an obstacle to CX success - a big leap from the 15% that reported it as an obstacle in 2020. 

• Furthermore, in a clear acknowledgement of the seriousness of the economic landscape, over three quarters (79%) of respondents told us that demonstrating their CX programme’s financial contribution to the organisation will become more important over the next 18 months. This will require a step change for customer experience leaders as only around a third are measuring any kind of financial metrics and only about a quarter are measuring ROI. 

Download the report to learn more about:

• What technologies CX leaders expect to invest in over the next 18 months

• What CX leaders view as the biggest obstacles to their success

• What their overall priorities are for the next 18 months

• How trends in CX programme staffing are changing

• How investment in CX consultancy support is changing

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