96% of CX Leaders Are Expanding Their Customer Data Strategies

Charlie Mitchell

New Precisely research highlights the demand for data and analytics technologies

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96% of CX Leaders Are Expanding Their Customer Data Strategies

More than 19 in every 20 CX leaders have invested or plan to invest in data integration, data integrity, or data enrichment technologies.

Perhaps this is no surprise. After all, data is the fuel for automated customer experiences, and that rig will soon dry as we enter a cookie-less world. As such, there is a clear need to reimagine data acquisition processes across digital platforms, as a recent Precisely report underlines.

The study, entitled “How Data is Driving Next-Generation Customer Experiences”, highlights this, alongside other data struggles. It reveals that only 37 percent of CX leaders believe they have a well-developed enterprise data architecture that enables high-quality, data-driven, and personalized CX.

Accessing siloed data across various journey touchpoints is a significant blocker, with almost half (48 percent) of survey participants struggling to overcome the issue.

Greg Van den Heuvel, EVP and General Manager at Precisely, places the blame squarely at the feet of legacy systems. He said:

If your company is aiming to achieve a consistent and holistic approach to customer engagement, taking advantage of a single, unified platform is significantly more effective than using a disjointed toolset.

Yet, there are also concerns regarding the quality of data companies access once they open up these channels. Highlighting this, the study shows that 45 percent of CX leaders believe that much of the data they collect is not relevant or current.

These statistics seem startling, as digital strategies have evolved significantly since the onset of the COVID-19 pandemic. Indeed, 65 percent of leaders have created new digital touchpoints to serve as an alternative to in-person touchpoints.

With this creation of digital touchpoints, consumers should generate lots of data that they can transform into strategic insights. However, a disconnect emerges when reflecting on previous statistics that indicate a limited data pool.

As such, it seems that many digital CX strategies currently lack data maturity. This is likely a growing concern as the end of online cookies approaches. For this reason, understanding and investing in data and analytics technologies appears to be a CX imperative moving forwards.

More Fascinating Findings from The Precisely Report

The study unearths lots more thought-provoking findings that delve deeper into the current state of digital customer experience and data maturity. Excellent examples include:

  • 34 percent of CX leaders will add digital touchpoints to customer journeys in the next twelve months.
  • During the height of the COVID pandemic (2020-2021), eCommerce sales increased by over 50 percent.
  • 51 percent of companies are partnering with Hosted Managed Services to enhance their data strategies

Precisely worked with Corinium to survey 100 CX leaders across North America, Europe, and Australia to uncover these statistics. They did so in March 2022.

Interested in uncovering the leading providers of data and analytics solutions? If so, check out our rundown of the Gartner Magic Quadrant for Data and Analytics Service Providers 2022

 

 


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