New CX Research Reveals Only 15% of Organizations Are Satisfied with Ability to Quantify the Impact of Customer Experience

https://www.pointillist.com/news/new-cx-research-reveals-only-15-of-organizations-are-satisfied-with-ability-to-quantify-the-impact-of-customer-experience/

 

New CX Research Reveals Only 15% of Organizations Are Satisfied with Ability to Quantify the Impact of Customer Experience

 

New Pointillist Report, 2019 State of Customer Journey Management & CX Measurement, Identifies Gaps in Customer Experience Measurement and Customer Data

 

BOSTON – June 6, 2019Pointillist®, an award-winning provider of customer journey analytics software, today released a report on the 2019 State of Customer Journey Management & CX Measurement. The report, based on a survey of more than 700 CX, marketing, and analytics professionals, reveals trends and insights into how and why organizations are adopting a customer journey-based approach to customer experience measurement.

 

Key Findings:

 

1. Adoption of a journey-based approach to customer experience was identified by more than 90% of respondents as important to their overall success. A journey-based approach is most effective for improving customer satisfaction, customer retention and customer lifetime value.

 

2. High-performing organizations have significantly more mature CX measurement programs and are more likely to use a data-driven, journey-based approach. High-performers are also more satisfied with their organization’s ability to rapidly generate customer insights, take actions based on those insights, and quantify the impact of those actions. High performers are also 3.2 times more likely than underperformers to use customer journey analytics to analyze and optimize customer experience.

 

3. Most organizations are unable to link customer experience metrics to quantitative business KPIs such as revenue and churn. Only 6% of respondents in under- and average-performing organizations state that they are satisfied with their organization’s ability to quantify the impact of customer experience on business KPIs.

 

4. The top obstacle for effective measurement of customer experience is the inability to break down data silos and integrate cross-channel customer data. Only 11% of respondents in under- and average-performing organizations say they are very effective at integrating customer data. Respondents are using only 3.8 customer data sources to connect and analyze customer interactions across touchpoints, which is less than a third of the 12 most widely used sources. As a result, cross-channel customer journey analyses are based largely on incomplete information.

 

5. Current tools and technologies are insufficient for quantifying and improving customer experience because they do not provide a unified view of the customer journey. Despite employing more than 4.5 customer data and analytics technologies on average, less than 25% of respondents were satisfied with their ability to integrate customer data, rapidly generate insights, engage customers with the best experience, and quantify the impact of these actions.

 

“Our research confirms that customer experience is a top priority for most organizations and reveals that CX teams are now under pressure to improve customer experience and measure its impact on their overall business,” stated Steve Offsey, V.P. of Marketing at Pointillist. “According to respondents, the top obstacles for attaining these goals are an inability to integrate cross-channel customer data and quantify customer experience using their existing tools and technologies.”

 

To download the full report, visit: 2019 State of Customer Journey Management & CX Measurement.

 

About Pointillist

The Pointillist customer journey analytics platform enables rapid discovery of customer insights, to help companies dramatically improve customer experience and marketing results. The platform reveals the actual paths customers take, as they engage with a company across touchpoints over time. In minutes, users of the platform can connect the dots between customer interactions and quantitative metrics such as revenue, churn and customer lifetime value. Unlike other solutions that merely unify customer data, the Pointillist platform reveals high-impact customer insights and enables engagement with customers at optimal points along their journey. Pointillist is a business unit of Altisource Portfolio Solutions, S.A. (NASDAQ: ASPS). For more information, visit: https://www.pointillist.com/ and connect on Twitter, LinkedIn and Facebook