Loyalty and retention to be the top 2016 CX investment

Customer relationship management

CX Network has published an exclusive report detailing the key trends and challenges within customer experience in the past 12 months and what this means for CX leaders in 2016.

The brand new report, The Evolution of Customer Experience in 2015, provides insight into the key trends, challenges and investment priorities of customer experience leaders from the last 12 months and how this is shaping the CX landscape for 2016.

Drawing additional insights from the annual global CX Network survey of nearly 700 CX practitioners, the key investment priorities for the wider industry in 2016 to emerge include customer loyalty and retention (34%), CRM (30%), and online customer experience (28%)

>> Download the full report here

Interestingly, while key focuses for customer experience leaders in 2015 were capturing data for customer insight and digital with a move to the online customer experience, it's the more traditional aspects of customer experience management – such as loyalty and retention as well as CRM – that CX leaders are currently looking at as top investment priorities for 2016.

SEE ALSO: How to Deliver an Exceptional Customer Service

The 2016 survey also delves into investment priorities for different functions responsible for customer experience, and these responses show the following priorities:

  • Contact Centres: Training (70%), analytics (60%) and knowledge management (58%)
  • Customer Insight: Customer and data analytics (73%), online customer experience (66%) and business intelligence and reporting (60%)
  • Digital and Social: Customer insight (59%), social media engagement (57%) and digital content development (55%)
  • Marketing: CRM (67%), customer insight/intelligence (66%) and data analytics (57%)

Additional industry insights within the report include:

  • The top 10 investment priorities for CX practitioners in 2015
  • Industry experts from Forrester Research, Riyad Bank, Standard Live, DHL and Graze.com share their predictions for the next 12 months
  • 8 challenges CX leaders believe they will be facing in 2016, and what can help them overcome these

CX Network Advisory Council member Ingrid Lindberg reviews the past year within the report and she concludes: "2016 should be the year of building inculcating CX into your company and ensuring that your approach is systematic – both of which will show continued maturity of your practice."

>> Download the full report here