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Execs In The Know’s Latest Research Finds the CX Industry Is Emboldened by Optimism

The success of any business depends largely on the satisfaction of its customers, making exceptional customer experience (CX) a top priority. If your brand is like most these days, it strives to deliver consistently great CX while continuously improving it.

Last year brought a refreshing wave of optimism to the CX industry, with encouraging survey results indicating a boost in confidence among its leaders. Execs In The Know, a global community of the brightest minds in customer experience, recently released its CX Leaders Trends HYPERLINK "https://execsintheknow.com/knowledge-center/cx-research/cx-leaders-trends-insights/cx-leaders-trends-insights-2022-corporate-edition/"& HYPERLINK "https://execsintheknow.com/knowledge-center/cx-research/cx-leaders-trends-insights/cx-leaders-trends-insights-2022-corporate-edition/" Insights: 2022 Corporate Edition survey. It revealed that more CX leaders believe they are fulfilling their customers’ needs and expectations now more than in any other year since 2018.

Through this research, Execs In The Know’s Research Team uncovered valuable patterns and trends that can assist businesses in keeping their customers happy and their operations thriving. This comprehensive report features the experiences and perspectives of 111 senior CX leaders, providing insights into a range of topics including CX Technology, Touchpoints, CX Strategies, Workforces, and Workplaces.

Additionally, this latest edition of research includes a special section that compares the results of CX Leaders Trends & Insights Consumer and Corporate Editions and is enriched with Practitioner’s Perspectives. These are snapshot analyses from accomplished CX leaders representing top brands.

Meeting the Needs and Expectations of Customers

To establish a customer-centric approach, brands must strive to gain a holistic understanding of the entire customer journey. Furthermore, it is crucial for them to acquire in-depth and detailed insights into the key factors that influence the customer experience.

Let’s dive into a few insights from the latest research.While there are signs of a slowdown in growth, particularly in terms of headcounts, growth remains a top priority for the industry. The industry views the shift to work-from-home (WFH) as a positive change, with agents' remote performance steadily improving. Many organizations have embraced hybrid models that have proven to be highly productive.

However, the industry still faces challenges such as hiring and retention, obsolete technology systems, and increasing financial pressures. Nevertheless, 74% of CX leaders indicated that their organizations are already taking significant or modest actions to address economic uncertainties.

Moreover, 86% of CX leaders believe that their organizations are generally meeting the customer care needs and expectations of customers. SMS/Text remains the most highly planned solution in the short-to-near term, followed closely by Chatbot/Virtual Assistant, Video Chat, and Kiosks. And 77% of survey respondents describe the shift to WFH as having a "Very Positive" or "Somewhat Positive" impact on meeting customer needs and expectations, up from 66% in 2021.

The research also found that only 38% of companies measure the entire customer experience across all channels, and a mere 31% of CX leaders are "Very Satisfied" or "Satisfied" with their CX technology stack.

Customer-Centric Continuous Improvement

Continuous improvement is only possible when armed with the right information. It is a pleasure to bring these CX insights twice yearly to life as a part of the CX Leaders Trends & Insights series. But our efforts are truly only possible with the help of a thoughtful and engaged community.You can access and download the full CX Leaders Trends & Insights: 2022 Corporate Edition report here.

Execs In Know will be exhibiting at the Call & Contact Center Expo in Las Vegas on April 26-27, 2023, at the Las Vegas Convention Center. Come visit us at Booth 7022!

Interested in learning more about these topics and others? Join us September 20-23, 2023, for Customer Response Summit (CRS) in Nashville, Tennessee. Registration is now open! Located downtown, a short walk from Nashville’s nightlife, The Grand Hyatt Nashville will host our event with its classic Southern hospitality. This artistic community where everyone has a voice will be the perfect setting for our sharing community of CX leaders.

About Execs In The Know

We are a global community of the brightest minds in customer experience (CX). It brings CX leaders together from across industries in a "leaders learning from leaders" format to advance the conversation and set a new agenda for delivering amazing experiences for consumers. 

For more information, visit www.execsintheknow.com