Data Snapshot: CX Expectations and Plans for 2014
January 31, 2014 1 Comment
Temkin Group just published a data snapshot, Customer Experience Expectations and Plans for 2014. This annual research effort shows a strong surge of CX activity n 2014, which will outpace the effort, spending, and hiring in 2013. Areas gaining momentum in 2014 include text analytics, web and mobile experiences, and CX consultants. Here’s a description of the data snapshot:
In the fourth quarter of 2013, Temkin Group surveyed 152 respondents from companies with $500 million or more in annual revenues about their customer experience results in the past year and their plans for 2014 and beyond. The results from that survey are compared with results of a similar survey we completed in the same timeframe in 2010, 2011, and 2012. The results highlight a resurgent dedication to customer experience and an increase in customer experience management activities and efforts in 2014.
The data snapshot has 14 graphics with data about CX plans and expectations for 2014. Here’s a portion of one of the graphics showing that companies expect even more business impact from CX in 2013 than they saw in 2013.
Here are a some additional findings from the research:
- Sixty-three percent of companies expect to spend significantly more or somewhat more on customer experience in 2014 than they did in 2013, which is up from 54% in 2012 and 46% in 2011.
- 51% of companies plan to increase the staffing of their centralized customer experience team in 2014, while only 3% expect a decrease.
- When it comes to areas of CX spending, text analytics has the most spending momentum while market research firms have the least.
- Executive commitment has reached an all-time high as 84% of the respondents agree that their executives are fully committed to their company’s customer experience goals.
- 78% of companies plan on dedicating significantly more or somewhat more effort to improving their web experience in 2014
- There is a surge in focus on phone agent experience.
- Eighty-four percent of companies expect to increase their focus on customer experience measurements and metrics.
- CX executive dashboards and customer journey mapping are the two CX activities that had the largest increase in focus since last year.
- While 73% of companies with the most positive CX impact understand the link between customer experience and business results, only 35% of companies with the least positive CX impact claim the same.
The bottom line: 2014 will be a very active year for CX management.