Global Study Reveals Over 90% of Organizations are Missing Key CXM Capabilities to Drive Business Results

Research highlights how companies are approaching customer experience management and the technology challenges they face

86% of respondents would implement a unified customer experience management platform if it was made available to them

Sprinklr, the unified customer experience management (Unified-CXM) platform for modern enterprises, today released the results of its commissioned study conducted by Forrester Consulting to explore how decision makers are using data insights to deliver better customer experiences.

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“As the Forrester study showcases, organizations have a tremendous opportunity to invest in unifying their CXM strategy in order to make their customers happier and ultimately grow their business.”

The study, Boost Customer Experience Success With A Unified Approach, reveals that customer experience (CX) is a priority for 82% of decision makers, yet over 90% said they are missing key capabilities in their current technology stack to support a CX strategy that drives business results. These key capabilities include advanced AI to manage risk and efficiency, better data privacy, and ability to share insights with different customer-facing departments.

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Additional key findings after surveying more than 300 global decision makers:

• Companies don’t have effective customer experience management technology. As a result of missing key capabilities in their tech stack, nearly 50% of respondents said that current tools don’t provide a comprehensive, single view of the customer and nearly 50% said they don’t have a great way of understanding unstructured data (blogs, forums, ratings, reviews, social media mentions).
• Companies are struggling to deliver great customer experiences. Over 70% of customer experience decision makers said that quickly resolving customer issues across digital channels and acting on competitive insights was very important. Yet less than 30% said that their organizations execute these capabilities well.
• 86% of respondents would implement a unified customer experience management platform if it was made available to them. Respondents said that a unified CX management platform would yield a competitive advantage and untapped business benefits.

“Organizations understand that insight-driven strategies are the key to successful customer experience management, yet it’s surprising to see how many are challenged with siloed data, inefficient processes, and a disconnected stack of customer experience tools,” said Ragy Thomas, Sprinklr Founder & CEO. “As the Forrester study showcases, organizations have a tremendous opportunity to invest in unifying their CXM strategy in order to make their customers happier and ultimately grow their business.”

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