Digital Customer Experience Study Reveals an Increased Emphasis on Top-Down CX Transformation
NelsonHall has completed a new study entitled Digital Customer Experience Services, which analyses the current customer experience (CX) vendor offerings and client requirements and their likely future state.
A major shift in the market is the need to evolve from contact center-driven customer service to a comprehensive CX strategy consisting of new operational models, digital technology, and continuous analytics insights. The report identifies the three key pillars of the transformational strategy:
- Support from the executive board and senior company leadership
- Business value justification for adopting digital technology such as CX automation
- Ongoing co-innovation between vendor and client.
From a client perspective, the current requirements for cost optimization and scalability will remain, but the main focus of their future needs will be on customer satisfaction improvements. In a mature industry where best practices in contact center management are well established, such improvements can be delivered through a truly transformational CX approach.
Other key findings include:
- The CX Services market is expected to reach $88bn by 2022 growing at ~5% CAAGR
- Supplier consolidation is impacting most CX sectors
- Eliminating low value interactions and enhancing the live agent support with technology are main investment areas
- CX transformation relies on digital first technology such as cloud-based platforms, NLP, analytics, RPA, and machine learning, and new channels such as cognitive chatbots
- However, cognitive chatbots are in early stages of deployment
- Organizations require revenue generation optimization through digital models with heavy use of predictive analytics
- Effective orchestration of a unified CX is a key differentiator.
Based on interviews with 25 of the leading CX services providers and client references across North America, Europe, LATAM, and APAC Digital Customer Experience Services defines the market across service lines, geographies, and sectors. The report is essential reading for CX services professionals within organizations who need to understand the ‘art of the possible’ in next generation CX services, and for CX services providers seeking to transform and digitalize their CX services while de-risking their investment plans and enhancing their targeting.
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