75% of Organizations Surveyed Increased Customer Experience Technology Investments in 2018
June 13, 2019 | Gartner, Inc.Estimated reading time: 3 minutes
Three-quarters of organizations surveyed by Gartner, Inc. increased customer experience (CX) technology investments in 2018. Customer analytics continues to be one of the biggest investments, with 52% intending to increase funding in 2019, focusing on customer journey analysis, customer needs analysis, voice of the customer (VoC) and digital marketing.
Gartner's 2019 Customer Experience Innovation Survey gathered data from 244 respondents in seven countries in North America, Western Europe and Asia/Pacific, across a wide range of industries — 26% were from Australia and New Zealand. The objective of the study was to understand the priorities, technology investments and high-stakes situations faced by organizations in their CX initiatives.
The survey reveals that when organizations grow in CX maturity, a greater focus of technology investment is placed on increasing customer understanding and delivering accurate actions by analyzing data. At the same time, CX programs expand from a core team to a wider group of employees. The requirement for change management makes employee training tools an important technology investment.
According to the survey, the top five CX project priorities in 2019 are metrics (64%); VoC (50%); increasing speed of product and service launches (45%); product proliferation and personalization (45%); prioritization of CX investments (44%); and customer journey automation (44%).
“Knowing where your strengths and challenges lie and the next steps needed to improve maturity will help with project prioritization and planning,” said Olive Huang, research vice president at Gartner. “Also, extend your spending to different technologies as your CX maturity increases, paying particular attention to customer analytics investments.”
According to the survey, the top three emerging technologies expected to have the biggest impact on CX projects in the next three years include artificial intelligence (53%), virtual customer assistants and chatbots (39%) and omnichannel engagement solutions (37%).
High-Stakes Situations Have Negative Impact
The survey reveals that many organizations have faced crisis situations in their CX program within the last three years. Economic or financial pressure has impacted the highest proportion of respondents (53%). For those with lower maturity levels, 60% had CX initiative launches stalled due to lack of executive support, and 59% found it difficult to demonstrate value or ROI, which leads the CFO to question all future investments.
“High-stakes situations impacting CX programs can result in the removal of funding for a CX initiative or its cancellation, or even employees losing their jobs,” Ms. Huang said. “This may lead to a decline in the quality of the customer experience, weakened financial performance of the organization and erosion of its competitive position.”
According to Ms. Huang, there are many actions you can take to avoid these situations or reduce their impact, from securing management buy-in to improving technologies that support change management programs, such as employee training tools.
“Pay special attention to building recruitment, retention and succession plans for key technology leadership roles related to CX,” Huang said. “Candidates for these roles are often hard to find and highly valued in the job market.”
Gartner clients can learn more in the report “Survey Analysis: Customer Experience Maturity and Investment Priorities, 2019.”
More information on customer experience strategy can be found in the Gartner CRM and Customer Experience Strategy Primer for 2019.
About Gartner Customer Experience & Technologies Summits
Customer experience trends will be further discussed at the Gartner Customer Experience & Technologies Summit 2019 taking place June 17-18 in Sydney.
About Gartner
Gartner, Inc., is the world’s leading research and advisory company and a member of the S&P 500. We equip business leaders with indispensable insights, advice and tools to achieve their mission-critical priorities today and build the successful organizations of tomorrow.
Our unmatched combination of expert-led, practitioner-sourced and data-driven research steers clients toward the right decisions on the issues that matter most. We are a trusted advisor and objective resource for more than 15,000 organizations in more than 100 countries — across all major functions, in every industry and enterprise size.
Suggested Items
Keynote Preview: Reshaping our Engagement With the World
03/28/2024 | Shawn DuBravac, IPCThe widespread integration of AI across various sectors is broadening its impact, from revolutionizing healthcare with Smart solutions to transforming homes into intuitive spaces, highlighting its crucial role in boosting efficiency and addressing complex challenges. In healthcare, we're witnessing a trend toward personalized care with AI-driven devices like intelligent pillows to mitigate snoring, sophisticated sleep monitors, and innovative patient monitoring systems.
Indium Corporation to Present, Exhibit at EPP InnovationsFORUM
03/28/2024 | Indium CorporationIndium Corporation is set to present and exhibit at EPP InnovationsFORUM, one of Europe’s premier single-day electronics manufacturing forums, on April 17 in Leinfelden-Echterdingen, Germany. Topic areas for 2024 will include AI, automation, sustainability, and quality.
Accenture Invests in Sanctuary AI to Bring AI-Powered, Humanoid Robotics to Work Alongside Humans
03/27/2024 | BUSINESS WIREAccenture has made a strategic investment, through Accenture Ventures, in Sanctuary AI, a developer of humanoid general-purpose robots that are powered by AI and can perform a wide variety of work tasks quickly, safely and effectively.
AT&S Well Prepared to Benefit from AI Boom
03/26/2024 | AT&SThe rapid progress in the development of artificial intelligence promises to revolutionize all areas of daily life in the coming years. In order to operate such AI systems, an enormous amount of computing power is required, which is provided by a vast network of data centres.
The IMAPS Show: A Conversation with John Andresakis
03/26/2024 | Marcy LaRont, PCB007 MagazineOn the last day of the IMAPS Device Packaging Conference, Marcy LaRont sat down with industry veteran John Andresakis of Quantic Ohmega, who attended the conference this week. Not his first time at this event, he talked about the conference, advanced technology, and trying to get the word out about the advanced packaging substrates solution Quantic is offering.