Large organizations are well aware of the benefits that come with an improved customer experience (CX), but execution is not as easy as it sounds.
These are the conclusions of a new report from cloud computing firm Rackspace, which states that businesses now prioritize CX over areas such as IT security/compliance, IT strategy and digital transformation.
According to a poll of more than 1,400 business leaders from large organizations, 94 percent have CX initiatives or strategies in place. Those that are more focused on CX enjoy 1.6 times higher brand awareness and 1.5 times more employee satisfaction. Customer retention rates, repeat purchases, average order values and customer lifetime value are all almost double compared to companies that don't focus on CX.
However, getting a CX strategy approved by management is a slow and cumbersome process. For half of respondents, it can take weeks to reach a consensus before any tech changes can be made. For 42 percent, this process takes months.
There are also tech-related roadblocks, such as legacy IT, budget restraints, skill gaps and the lack of expertise. Some organizations are resistant to change, which also makes implementation difficult. Lack of buy-in, lack of leadership support and the fear of negatively impacting existing customer experience were also listed.
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