Is CX technology the weak link in today's customer experience programmes?by
Customer experience is higher on the corporate agenda than ever before - but is it being hamstrung by issues with CX technologies? New research sheds light on what's going wrong.
And new research suggests that most CX leaders believe that they are being hampered by limitations with their CX technologies.
A new global study from Forrester reveals that most senior professionals feel that their current CX management platforms are missing key features which, by their own admission, is preventing over two-thirds of them from being able to provide good customer experiences.
The 2021 commissioned study, conducted on behalf of Sprinklr, surveyed 310 decision-makers from across North America, Europe, Asia and Oceania, with their organisations varying in size from 1,000 to 20,000+ employees, and covering a range of sectors - including retail, healthcare and construction.
The study reveals that the importance of CX is continuing to grow within organisations, with 65% of decision-makers admitting that they are prioritising their CX strategy more than the previous year, and 82% stating that they will be making their CX strategy a critical or high priority in the upcoming year.
Within the CX strategies themselves, the respondents listed the following as the top objectives for the next 12 months:
Improving the quality of CX (58%).
Ensuring secure and seamless customer experiences (51%).
Increasing revenue (51%).
However, whilst there is an increase in CX priority within organisations, the decision-makers do not yet believe that this is being reflected in the quality of customer experiences being delivered. Perhaps the most eye-opening of the findings unearthed is the admission that although 75% of decision-makers consider quickly resolving customer issues across digital channels and acting on competitive insights to be very important, only 25% believe that their organisations are able to achieve this.
This is a worrying trend reflected in all of the most important customer management capabilities - with the number of organisations possessing these capabilities never rising above 29%.
One of the key CX problems that organisations believe is contributing to their inability to provide good CX, is addressing one-on-one customer interactions on digital channels, with 56% admitting that they struggle to deal with these interactions.
Other major issues include a belief that their CX is highly fragmented across multiple channels, and a failure to recognise opportunities for CX improvements in real time - with almost half of those surveyed either agreeing or strongly agreeing with both points.
However, the crucial and overwhelming issue revealed within the study was the lack of key customer experience management technology. 93% of the respondents felt that they were missing features from their customer experience management platform that would enable them to better execute their CX strategies.
Amongst the main features that the decision-makers felt their current CX systems were lacking, security-related features accounted for three of the top six.
The other findings revealed that what CX decision-makers crave is a secure, seamless, and insights-driven customer experience. They also require advancements in their current AI capabilities, to help them manage risk, improve data privacy, and better customer data governance
Interestingly, consumers themselves have also echoed the belief that tech shortcomings are hampering customer experiences. A recent report conducted by NTT, found that whilst CX was gaining in prominence in the boardroom - with more senior CX professionals being appointed and CX strategies becoming more advanced - these advances were not being reflected by the experiences of customers. The research found that over half (52%) of consumers say that digital channels are failing them due to limited capabilities or services, while nearly half (44%) of experience failures reported by respondents were due to digital channels misunderstanding their queries.
It is clear that unsophisticated customer experience management technology is playing a major role in current CX strategies, with both organisations and customers being hamstrung by inefficient digital processes and outdated customer experience platforms.
Reflecting on the survey results, Ragy Thomas, Sprinklr Founder & CEO, registered her surprise that so many organisations “are challenged with siloed data, inefficient processes, and a disconnected stack of customer experience tools”.
While the increased prioritisation of CX within organisations is positive news, companies will be unable to capitalise on this and execute their CX strategies to their fullest potential until the digital systems are adequately updated and revamped.