Research from Forrester shows that most CX initiatives were stalled in 2018. The outlook for 2019 maybe worse. Organisations are faltering in terms of improving CX quality. Forrester predicts in 2019 up to 20% of companies across the globe will give up trying to differentiate on the basis of CX.
In a survey conducted by Hotjar, only 12% of 2000 CX Professionals believed their organisations were fully mature in terms of customer experience. Most brands are not doing enough to make the necessary changes to improve CX quality in relation to the changing expectations of their customers. The few that are will increase the gap between themselves and their competitors in terms of revenue and profitability.
Despite the investment in CX related technology such as chatbots, AI, AR, social media etc, the outlook for CX in the next few years appears relatively gloomy.
The investment in technology maybe contributing to the problem. Rather than building more meaningful connections with customers and understanding their feedback, the technology adds unnecessary complexity to an already complex situation. The new digital channels may actually be an additional barrier between the customer and the brand.
Stagnating CX Quality
The consequences of these trends may have a significant impact on a range of organisations looking to grow their business. Forrester predicts that stagnating CX quality will initiate destructive price wars in a number of industries. Brands will view discounting as the main mechanism for business growth, only investing in CX to ensure things don’t get worse rather trying to improve CX quality.
It will also entail greater effort to make the business case for CX transformation. If initiatives drag on and require more and more resources, shareholders and the board will apply more pressure on executives and CX leaders to justify the investment. According to Forrester, CX professionals must put more sophisticated CX business plans in front of their leadership if they expect to continue to receive meaningful support in 2019.
Opportunities despite the gloom
Though 2019 will be a tough year for CX, Forrester still believes that customer experience will continue as a major factor in how companies do business. There will continue to be plenty of job opportunities for CX professionals. As companies increase their focus on CX, they’re establishing and expanding their CX teams. More jobs means that CX professionals will have the luxury to be selective about where they work
