CX Today spoke to some of the industry’s most knowledgeable and informed tech vendors, resellers, and agents about the key trends, challenges, and opportunities currently impacting the CX tech space.
With insights from professionals across 11 countries and four continents, the survey results made one thing abundantly clear: the CX industry is booming.
Indeed, when asked about revenue changes in the past year, only three percent of those surveyed reported decreases, while 87 percent experienced increases, with 17 percent of those enjoying increases of 50+ percent.
Unsurprisingly, these revenue figures have led to a general air of positivity across the sector, with 61 percent of respondents stating that they are ‘more confident’ in their business over the last 12 months.
These were just some of the questions put to the professionals, with a plethora of other CX insights unearthed throughout the Report.
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Sector Inspection
One of the more illuminating sections of the survey details how respondents view the role and potential of CX in different sectors.
As seen in the below graph taken from the research, some industries are far more eager to embrace CX technologies than others.
Finance, healthcare, and retail are comfortably the most CX-friendly fields, as they naturally align themselves with some of the key tenets of the customer service and experience space, such as customer satisfaction, customer centricity, and personalization.
In contrast, industries like transportation, education, and hospitality receive less attention from CX vendors, presenting a potential opportunity for vendors to focus on these underserved markets.
AI Continues to Reign Supreme
Taylor Swift topping the charts, Daniel Day-Lewis coming out of retirement, and AI being named as the most consequential technology in the CX space: the three certainties in modern life.
While CRM software, UCaaS, and SaaS all received sizable mentions, AI (94%) was far and away the most popular answer by respondents when discussing which technologies would provide the biggest opportunities over the next 12 months – highlighting just how essential it is in enhancing CX solutions.
The technology’s capacity to process vast data, offer personalized experiences, and automate interactions makes it vital for today’s customer experience strategies.
Of course, this is just a snapshot of what to expect, with insights surrounding specific vendors, industry challenges, and business segments all available in the full report.
For Charlie Mitchell, Senior Editor at CX Today, while the research reveals areas of strength and weakness, the overall message is a thriving, expanding profession:
However, these are just some of the golden insight nuggets scraped from the report, which spotlights the opportunities tech professionals have across business segments, sectors, and markets.
“Yes, some arenas appear healthier than others. For instance, AI and CRM solutions seem to be riding the crest of a wave while collaboration tools languish below. Nevertheless, as a collective industry, CX tech professionals can sail into the sunset and voyage across an ocean of opportunity.”
