How IT Enhances the Customer Experience

 
 
By Dennis McCafferty  |  Posted 06-14-2016 Email
 
 
 
 
 
 
 
 
 
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    How IT Enhances the Customer Experience
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    How IT Enhances the Customer Experience

    Companies are budgeting for more IT solutions—in particular those that address data and analytics needs—to improve the customer experience.
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    Bottom-Line Benefit
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    Bottom-Line Benefit

    For every dollar spent on improving the customer experience, organizations see a return of $3.
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    IT Investment
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    IT Investment

    50% of survey respondents said their company will invest in additional tech to improve the customer experience, while 47% said there will be additional investment in data/analytics to support these efforts.
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    Market Drivers
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    Market Drivers

    64% said competitive elements are driving them to improve the customer experience, and 52% said customer feedback is.
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    Top Business Benefits of Customer Experience Investment
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    Top Business Benefits of Customer Experience Investment

    Increased revenues: 40%, Financial performance edge over competitors: 38%, Improved sales cycles: 37%
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    Top Customer-Focused Benefits of Customer Experience Investment
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    Top Customer-Focused Benefits of Customer Experience Investment

    Increased customer satisfaction: 58%, Greater customer loyalty: 45%, Improved acquisition and retention of customers: 41%
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    Impactful Endeavor, Part I
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    Impactful Endeavor, Part I

    65% of survey respondents said prioritizing the customer experience enables them to provide personalized and relevant information to customers at the right time and in the right place.
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    Impactful Endeavor, Part II
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    Impactful Endeavor, Part II

    61% said focusing more on the customer experience paves the way for a "frictionless" shopping experience across devices and channels.
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    Lapped Traffic
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    Lapped Traffic

    Only 14% said their organization is one step ahead of their customers' changing expectations.
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    Experience Obstacles: Out-of-Date
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    Experience Obstacles: Out-of-Date

    44% said their ability to deliver a good customer experience is constrained by the lack of modern IT, sales, marketing and service systems.
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    Experience Obstacles: Short-Handed
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    Experience Obstacles: Short-Handed

    41% said the unavailability of internal skills to build, implement and manage the end-to-end customer experience creates challenges in these efforts.
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    Experience Obstacles: Gadget Gap
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    Experience Obstacles: Gadget Gap

    39% said their company struggles to provide a seamless experience for customers as they pursue a sale using different devices.
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    Experience Obstacles: Muddled Metrics
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    Experience Obstacles: Muddled Metrics

    34% said they face difficulties in attempting to analyze customer data, such as that captured within disparate data sets, systems and tools.
 

Organizations are reaping huge ROI from their investments in the customer experience, especially if they fund for new marketing technologies or upgrades, according to a recent survey from Avanade and Sitecore. The resulting report, titled "Customer Experience and Your Bottom Line," indicates that companies are budgeting for more IT solutions, especially those addressing data and analytics needs, to improve the customer experience. They're also seeking to establish seamless shopping across multiple devices and channels. With this, they expect to benefit through boosted revenues, improved sales cycles and increased customer satisfaction and loyalty. "Customers want flawless," according to the report. "They want speed. They want smooth. Because of this, we live in an era where the digital customer experience is king. In a market where there are 10 competitors vying for customers' attention, you have to be the one they turn to. This focus will result in massive financial gains for organizations … (It will) help you digitally transform to better centralize the customers' needs; understanding them through strong analytics, making them feel valued by providing personalized information (at the right place and right time) and saving them time and stress by offering a frictionless experience across devices and channels." A total of 880 global decision-makers with responsibility or influence over their organization's customer digital experience took part in the research.

 
 
 
 
 
Dennis McCafferty is a freelance writer for Baseline Magazine.

 
 
 
 
 
 

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