CX Goals Are Driving Digital Transformations—but Better Data Needed

CX Goals Are Driving Digital Transformations—but Better Data Needed

For the vast majority of organizations, the digital transformation is primarily about achieving customer experience (CX) goals, according to a recent survey from Experian. The resulting report, titled “Mastering the Customer Experience,” indicates, however, that a lack of insightful data is presenting the biggest barrier in pursuing these efforts. CX teams would also be better positioned to succeed with clearer strategies, improved digital skills and greater leadership support—as well as less complex tech tools to work with. More than 500 U.S. employees who are involved with digital transformation, data and analytics efforts took part in the research. The following slide show presents highlights from the survey, with charts provided courtesy of Experian.

CX Tops Transformation Drivers

Experian reports that 73 percent of survey respondents said customer experience (CX) goals are a top driver of digital transformation efforts. The need for product innovation ranks second, as cited by 56 percent of respondents.

Organizations Seek Improved Insights

More than one-half of respondents indicated that the need for better decision-making insights was a top driver of digital transformation efforts. Nearly the same number cited competitive advantage goals, and the improvement of operating models.

Transformation Requires Improved Insights, Strategies, Skills

When asked about the biggest challenges they face in pursuing a digital transformation, 42 percent cited a lack of data or insight. About one-third cited a lack of a clear strategy, and 32 percent cited a lack of digital skills and leadership support. The same percentage also said they face major challenges in the form of technical complexities.

Websites Remain Key Customer Communications Tool

Nine of 10 respondents use their organization’s website to communicate with customers. Nearly the same amount use email, and 77 percent use social media.

Consolidated View Boosts Efficiencies

In pursuing a digital transformation, 53 percent of respondents said a consolidated view of customer data will improve operational efficiencies. One-half said this view would improve CX in general, and 47 percent said it would provide a more personalized service for customers.

Interactions Suffer from Lack of Meaningful Metrics

Nearly two of five respondents said a lack of customer insight and data presents a major challenge in delivering an excellent CX. Nearly the same number cited conflicting priorities and a lack of time.

Data Provides Transaction Intelligence

To improve the digital CX, 54 percent of respondents said their organization uses data to analyze customer transactions. Just over one-half use this data to collect survey information.

Social Media Activity Gets Closer Look

Also to improve the digital CX, nearly one-half of respondents said their company uses data to look at social media activity. Forty-three percent use it to assess user behaviors on digital properties.

Online Applications Lead to Customer Frustrations

One-half of respondents said potential new customers abandon online applications because the applications require too many steps. In addition, 45 percent of respondents said the applications take too long to complete.

CEOs Emerge as Prime CX Influencers

One-half of respondents said their CEO is highly influential in driving customer experience efforts. The chief operations officer was ranked second, as cited by 35 percent, followed by chief marketing officer, at 30 percent. CIOs/CTOs ranked fourth, at 27 percent.