CSG Survey: Internal Silos, Data Overload Hampering Great Customer Experience Delivery
May 13 2020 - 8:00AM
Business Wire
CSG® (Nasdaq: CSGS) today released the results of a
comprehensive new survey examining the correlation between customer
experience (CX) and business growth. Conducted by Forrester
Consulting, the commissioned survey engaged marketing and CX
decision makers to reveal that despite access to more customer data
than ever before, companies continue to struggle to harness this
data to meet customer experience expectations.
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CSG CX Survey Results (Graphic: Business
Wire)
“Around the world, companies are realizing the importance of
using data to understand the evolving wants and needs of their
customers,” said Brian Shepherd, executive vice president and group
president, CSG. “And while companies have significantly increased
the amount and type of customer data they collect, harnessing the
power of that data to deliver a truly differentiated experience
remains a significant challenge.”
Key findings of the study include:
Data is Abundant; However Internal
Silos Stand in the Way of Delivering Good CX
- Eighty-five percent of companies surveyed have more data on
their customers than two years ago; however less than one-third
(29%) have high confidence in data quality.
- Only half (51%) of companies surveyed can use this data to
personalize and customize interactions and less than half (46%) can
orchestrate actions in real time.
- Decision makers surveyed indicated that the top challenges of
delivering a good CX include the existence of internal silos
(38%).
- Only 57% of executives agree that the CX budget has been spread
across various departments to create a more integrated CX
plan.
CX is a Primary Driver of Customer
Retention and Growth
- Sixty-two percent of decision makers surveyed agree that more
customers are making purchase decisions based on experience alone
versus just two years ago.
- Customer demands that have changed in the last two years
include increased demand for quicker response times (53%),
increased demand for more personalization (59%) and increased
desire for connected online and offline experiences (55%).
- Sixty percent of companies believe the failure to deliver a
positive customer experience could likely result in decreased
customer retention and 57% anticipated a possible decrease in sales
or loss of company revenue.
Summary
Only with a better understanding of how to interpret and
leverage customer data will companies be able to isolate, quantify,
model and track opportunities to improve CX, operational efficiency
and ultimately drive business results.
CSG is focused on helping companies create transformational
experiences that drive customer loyalty and fuel long term business
growth, and recently launched a new Experiences Practice to help
companies strategize, design and deliver these experiences.
To view the full results of the CSG customer experience survey,
“Great CX Cuts Cost And Drives Business Results,” visit here. To
learn more about the CSG Experiences Practice, visit
www.csgi.com/experiences.
About CSG
For more than 35 years, CSG has simplified the complexity of
business, delivering innovative customer engagement solutions that
help companies acquire, monetize, engage and retain customers.
Operating across more than 120 countries worldwide, CSG manages
billions of critical customer interactions annually, and its
award-winning suite of software and services allow companies across
dozens of industries to tackle their biggest business challenges
and thrive in an ever-changing marketplace. CSG is the trusted
partner for driving digital innovation for hundreds of leading
global brands, including AT&T, Charter Communications, Comcast,
DISH, Eastlink, Formula One, Maximus, MTN and Telstra. To learn
more, visit our website at csgi.com and connect with us on LinkedIn
and Twitter.
Copyright © 2020 CSG Systems International, Inc. and/or its
affiliates (“CSG”). All rights reserved. CSG® is a registered
trademark of CSG Systems International, Inc. All third party
trademarks, service marks, and/or product names which are
referenced in this document are the property of their respective
owners, and all rights therein are reserved.
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version on businesswire.com: https://www.businesswire.com/news/home/20200513005072/en/
Brad Jones Public Relations CSG +1 (303) 200-3001
brad.jones@csgi.com
David Banks Investor Relations CSG +1 (303) 200-3127
david.banks@csgi.com
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