Brands Commit to Increase Digital CX Investment: Report

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While making consumer choices, customer experience (CX) will take over price and product as a key brand differentiator.

The Customer Experience Live Intelligence Report for 2022, launched on the sidelines of the Customer Experience Live Show Middle East, cites an increased investment in Digital CX.

Providing key insights on the regional CX industry, the report states that 60 per cent of companies in the region are looking to invest in solutions that will strengthen their data framework. Talking about the budget allocation for tech deployment in 2022, 66 per cent of organisations plan to invest upwards of $200,000 in CX next year, whereas, 14 per cent will be investing between $ 500,000 to $ 1,000,000.

Strengthening CX Infrastructure is of utmost importance, to which effect, 51 per cent of companies show an increased drive towards digital transformation implementation or expanding AI, chatbots, analytics, and cloud capabilities.

Moreover, 49 per cent of companies cite data analytics and data security as central to CX – leveraging data analytics to analyse feedback responses and drive insightful decisions whilst having strong data governance. Furthermore, 57 per cent of companies will be re-evaluating customer journey mapping platforms in 2022 while 43 per cent will be investing in Intelligent Chatbots in 2022 to enhance omnichannel CX.

Also Read: The Importance of Customer Experience In 2021

Ayusha Tyagi, Managing Director, Customer Experience Live, said: “The experiences that a brand provides throughout the customer journey will either help build a lasting relationship with the customer or tarnish one. 60 per cent companies are investing in solutions to strengthen their data analytics framework and leveraging data insights in future product and service design. Customer experience weaves around operational excellence, service design excellence, and digital transformation. Companies must attain internal alignment on how data is collected and used across these functions to achieve overall success.”

Kowshik Bhattacharjee, Head of Service Excellence, Medcare Hospitals, said: “The transition to digitisation during the pandemic has strengthened our CX journey. The engagement between the brand and the customer has become much stronger as the customer started seeing ‘this is a brand that truly takes care of me’.”