Big Data Analytics / Marketing

C-suite ranks Customer Experience as Top Priority

Report reveals more than half of C Suite views customer experience as the most important way to differentiate their brand, but lack clear leadership and insights

According to a new report commissioned by customer engagement and analytics software provider Calabrio, “Success in The Experience Era: Connecting Customer and C-suite,” found US and UK business executives rank customer experience above sales and revenue as the key focus in 2017. A full 100% of the C-suite survey respondents are prioritizing the customer, in contrast to just 58% who cited sales and revenue as their primary concern.

The importance of delivering exceptional customer experiences is now more apparent than ever. More than half (52%) of senior leadership globally view customer experience as the most important way of differentiating their brand, study revealed. Nearly two thirds (64%) of senior leadership state that customer retention is their
primary means of measuring customer experience success.

However, the study uncovers that companies and their C-suites have hurdles to clear before they can fully understand and engage customers. For example, nearly half (47%) of CMOs feel that they do not have the right tools deployed in order to understand their customers’ greatest challenges. In fact, 29% of respondents are still unsure of the number of devices customers are using to complete a purchase, and only one third believe that customers are connecting with brands using more than two devices.

Real-time insights about customer behavior are critical. In fact, 39% of respondents listed the importance of
understanding real-time behavior as a core reason for a dedicated CCO function. For customer experience leaders, the ability to analyze behaviors in real time opens a world of new insights, helps instill best practices and guarantees better outcomes.

And, at the heart of the problem is a lack of clear customer ownership post-sale — only 35% of CMOs believe that using customer data insights is their responsibility, while a mere 29% of CCOs claimed ownership. Looking further across the C-suite, only 37% of chief executive officers stake a claim on improving customer experiences.

This lack of ownership within the C-suite, combined with siloed customer data and increasing customer expectations, has created tension within many organizations. In fact, in the UK, more than one in ten respondents
think that the creation of a CCO position will nullify the role of the CMO within their business.

The study surveyed 844 senior business decision makers from across the globe, including more than 350 C-level executives, on their business priorities and views on customer experience.

The report is availble to the public (if you are okay to fill a short form, of course) at: http://calabrio.com/success-in-the-customer-experience-era-report/

 

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