target audience: TECH SUPPLIER Publication date: Sep 2023 - Document type: IDC Survey Spotlight - Doc Document number: # US48542422
Enterprises Are Pivoting CX Investments to Efforts That Improve Customer Retention Versus the Acquisition Journey
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Abstract
This IDC Survey Spotlight analyzes results from IDC's Future of Customer Experience Survey, conducted between June and July 2023 to understand in what areas of customer experience (CX) enterprises are investing. As enterprises across industry sectors continue to race toward digital adoption in how they structure their business models and execute their businesses, customer experience remains the tip of the spear to differentiate in the new digital economy. Models such as as a service, direct to consumer, data monetization, and driving value through the digital ecosystem are seeing most traction with revenue generation. From a CX standpoint then, the lens for value exchange has leaned more to efforts that drive better customer retention and loyalty/renewals, with twice as many companies making efforts such as customer satisfaction and trust-related initiatives, their top investment choice.
The purpose of this Survey Spotlight is to understand how companies are employing technology to better identify and take the perspective of the customer that results in a positive outcome for the customer and the brand. The survey solicited responses from approximately 860 respondents across the globe and across a range of industries.