Survey: Majority Of Enterprise Executives Increasing Their 2023 Digital CX Budgets, Despite Macroeconomic Uncertainty

-Customer service quality and sustainable customer loyalty will be key focus areas for leaders in 2023

-CRM systems, AI and customer analytics will be the top digital CX investments this year

Research commissioned by TELUS International, a leading digital customer experience (CX) innovator that designs, builds and delivers next-generation solutions, including AI and content moderation, for global and disruptive brands, found that close to three-quarters (72%) of enterprise executives will be spending more on digital CX in 2023 compared to 2022, with 68% increasing their digital CX budgets by up to 25%.

The survey, conducted in partnership with Statista, explored where 250 enterprise leaders throughout the U.S. and Europe plan to invest in digital CX technology in 2023, and the key driving factors behind those decisions. It found that customer service quality (27%) and supporting long-term and sustainable customer loyalty (18%) will be key focus areas for leaders this year. Additionally, respondents noted that customer relationship management (CRM) systems (42%), artificial intelligence (AI) (34%) and customer analytics (33%) will be the top digital CX investments for 2023.

“While the pandemic has heightened the need to create new, differentiated, personalized and frictionless omnichannel customer experiences, today’s economic climate is further driving the need for businesses to have a robust CX strategy in place,” said Maria Pardee, chief commercial officer, TELUS International. “In times of economic uncertainty, customers are more cautious about where they’re spending their money, and a positive customer experience that integrates elements like AI-powered chatbots, mobile apps and united web interfaces can help brands stand out from the crowd, leading to increased brand loyalty and customer retention.”

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Additionally, enterprise executives noted:

• ‘Work from home’ and remote desktop solutions enabling their teams to connect and engage with customers easily and securely remain an investment priority (27%) despite an increasing number of employees returning to offices.
• Data security and compliance (38%), limitations in tech infrastructure (36%) and budget constraints (35%) are the biggest obstacles to achieving their digital CX goals in 2023.
• Cloud technology, data protection and AI were viewed as the top digital CX trends in 2023.
• Transparency and data security (35%) topped the list of qualities they are looking for in a digital CX partner, followed by experience (33%), cost (33%), innovation (32%) and having customer-focused, personalized solutions (30%).

“For brands, having a strong CX partner by their side can help ensure they’re well-equipped to weather any storm while simultaneously planning and positioning themselves favorably for the future,” said Pardee. “During an economic downturn, being able to quickly adapt to changing customer preferences, behaviors and efficiency measures while staying competitive is crucial. A provider who can help design, build and deliver an end-to-end customer journey, and has the right technology and the expertise to scale and innovate quickly can help brands do just that, enabling them to focus on providing the best possible experience for their customers and driving better business outcomes.”

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