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  • Customer experience technology spending to exceed $600bn by 2022 — IDC

    Spending on customer experience technology will reach $641bn in 2022, according to new research by IDC.

    As companies focus on meeting the expectations of customers and providing a differentiated customer experience, IDC predicts that CX technology spending will achieve a compound annual growth rate of 8.2% over the 2018-2022 forecast period; reaching $641bn in 2022.

    IDC defines CX as a functional activity encompassing business processes, strategies, technologies and services that companies use, irrespective of industry, to provide a better experience for their customer and to differentiate themselves from their competitors.

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    Culture and Access to Information

    By and large, people perceive culture as an HR discipline. The most common perception is that culture covers the soft side of performance. Culture is about how you do things, not so much about what you do. This approach to culture could not be more wrong. In fact, organizational culture is about so much more than a few words in a performance review sheet.  It is about leaders expressing values, and the action guidance their cultural behaviors provide.

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    How a Personal Interaction builds Customer Loyalty

    A customer-centric methodology is key to the successful outcome of my interaction with Hello Spud. It is the reason this story appears here, and not among the CX Big Fails! The company did not send an automated response. It did not deliver a message stating “sorry we couldn’t help you, would you like something else.” Instead, the company co-founder reached out to me personally across multiple channels (a handwritten note, followed by personal emails).

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