NTT DATA Research Reveals Executives are Challenged with How to Leverage Technology to Respond to Changing Customer Needs

Only 4 out of 10 organizations believe they are highly effective at delivering the kind of personalized digital experiences necessary to achieve customer satisfaction

NTT DATA, a digital business and IT services leader, released new insights from research developed with Oxford Economics revealing organizations that create personalized experiences are more likely to be successful. And yet, few executives are prioritizing personalized digital experiences or understand its connection to customer satisfaction and loyalty.

Marketing Technology News: Xpressdocs Announces Appointment of New CEO and COO

“Your customers don’t have to be a mystery to you”

The research, “Innovation Index: Digital Strategies for an Era of Constant Disruption,” surveyed 1,000 business and IT executives across 16 industries to examine the external forces and digital trends driving their business. Out of the findings, 66% said increasing customer satisfaction is their number one priority, but 57% believe their biggest challenge to providing high-quality customer experiences is that customer wants and needs change too quickly.

“Your customers don’t have to be a mystery to you,” said Lisa Woodley, Vice President of Digital Experience at NTT DATA Services. “If your customers’ wants and needs are changing too quickly, it tells us that you don’t know them very well to begin with. Organizations must prioritize personalization using data insights and AI to inform experience delivery, as well as modernize their applications strategy.”

Only 39% of executives consider digital experiences to be critical to satisfaction and loyalty, but 66% said increasing customer satisfaction is their number one priority, highlighting a lack of connection between customer loyalty, digital experience and customer satisfaction.

Technology enables customer loyalty and satisfaction

Customers want speedy, friction-free personalized service at their fingertips. The study shows that speed of service and quality are the top two critical factors for ensuring customer satisfaction. Mobile apps are especially useful in achieving this, with almost 60% of organizations that have adopted mobile apps saying they see value in improving experiences. Additionally, 59% have improved customer satisfaction and 15% have helped to increase customer loyalty with the use of mobile apps.

Loyalty goes beyond just mobile apps though. While emerging technologies hold much potential to drive loyalty, adoption of these technologies varies amongst leaders. For example, only an elite group of just 6% of leaders use artificial intelligence (AI) – Internet of Things and predictive analytics – to improve the customer experience by supporting customer-facing processes and services. The research shows these efforts are paying off, with these leaders 35% more likely to report annual revenue growth of 5%.

Marketing Technology News: Xpressdocs Announces Appointment of New CEO and COO