The value of experience

The Economist Intelligence Unit Request a copy of the full research from [email protected] to understand how the C-Suite values customer experience in today's digital age Increase CX investment more than 10% A definition of customer experience Customer experience (CX) encompasses each and every interaction a customer has with a company and its products Better customer 57% experience 66% CEO leads 38% 43% 13% 0% Better 31% 44% СЕО in NOw 57% revenue 68% growth 71% charge 31% 31% 82% NEXT 3 YEARS 62% 70% 71% More profitable Measure success A growing number of C-suite executives in the Asia-Pacific region will prioritise investment in customer experience over the next 3 years Companies in Asia-Pacific who prioritise future investment in customer experience gain a range don't prioritise More than 4 in 5 companies believe that their customers would view their overall customer experience positively benefits over those who Globally 72% of CEOS believe they own the CX initiative but only 27% of senior execs believe the CEO leads it Where does your CX responsibility lie? Only 30% of Japanese companies value CX as CIO 'very important LOB China & Hong Kong 35% LEADER Jаpan 29% However 86% of CEO's in Asia-Pacific have the final say СЕО 258% Leaders of CX initiatives CEO most likely to have direct control South-east Asia & Australia & NZ 39% Major barriers to implementation Lack of cross-organisational control South-east Asia Australia & NZ China & Hong Kong Jаpan 33% Jарan 45% 49% 14% South-east Asia China & Hong Kong 12% Lack of clear 9% 9% V 33% V objectives and insufficient funding 3% Lack of senior leadership is stopping Japanese companies from getting over the initial hurdles of implementation Australia & NZ СОО СМО СFO CЕО CIO LOB LEADER Customer journeys which include remote and in-person channels are very important today and in the next 3 years (%) How has your organisation's total investment in CX changed? 84% of companies in China & Hong Kong will boost investment by more than 10% South-east Asia Australia & NZ China & Jаpan Hong Kong Past 3 years Next 3 years >25% 53 61 49 32 10-24% 53 45 35 26 1-10% Face-to-face communications About the same 34 33 24 32 Decrease 29 48 54 23 South-east Asia Australia & NZ China & Hong Kong Japan Web self-service 39 21 68 16 39 33 59 19 Social Media wilL Online assistance support Primary benefits of CX remain an important channel in Asia Pacific. Are you social? Customer retention Increased sales Australia & NZ 39% South-east Asia 45% 16 36 70 China & Hong Kong 65% Jаpan 35% 21 48 51 35 60% Measuring CX How CX is measured depends on who is doing the measuring Social media 53% 47% 47% 45% Asia-Pacific more likely to measure success of customer experience initiatives than Europe or North America; China & Hong Kong (78%) most likely to measure, Japan (48%) least likely 40% 39% 39% 39% Region Most likely led by South-east Asia СЕО Latin America 67% Europe 59% Australia & NZ СЕО China & Hong Kong CIO Jаpan LOB leader Measurement tools Customer retention rate СЕО Customer satisfaction score Customer acquisition cost Asia-Pacific 66% North America 51% Customer satisfaction score CIO Customer effort score Customer retention rate Request a copy of the full research from [email protected] to understand how the Customer lifetime value LOB Return on investment C-Suite values customer experience in today's digital age Revenue improvement LEADER Genesys