Technically, we’re past the season of forecasts & prognostications but IDC’s “Future of CX” list is unusually meaty and prescient and, IMHO deserves more attention. Some of what you’ll see is fairly expected but I’ll bet you haven’t considered the full spectrum of what they’re predicting. Take 2 minutes and look it over and let me know what you think. Also, you’ll want to read Len Stein’s piece (below) on Augmented Reality before jumping into the deep end of the virtual pool.
– Mike Giambattista, Editor in Chief
FEATURE: Augmented Reality- What Marketers Need to Know Now
Marketers need to come to grips with the fast evolving digital world – augmented reality, virtual reality, mixed reality, the metaverse – before they will commit significant budgets to these technologies. But determining how to best employ augmented reality (AR) is a complicated issue. Read more …
Top Future of CX Predictions
“With macroeconomic uncertainty affecting both B2B and B2C customers, it has become imperative for organizations to empathize, contextualize, and deliver immersive customer experiences to come out ahead.”
IDC’s top ten Future of Customer Experience predictions identify the most important trends and related areas of opportunity in APeJ:
#1: Customer effort replaces CSAT: By 2026, one-fourth of Asia brands will abandon CSAT as a measure of customer experience and adopt a Customer Effort Score correlated to outcomes as a key indicator of journey satisfaction and success.
#2: Customer data trails: By 2024, 50% of the Asia-based 1000 organizations (A1000) will adopt CDPs as the enterprise customer data service for real-time customer interactions like a central nervous system, increasing CX metrics and revenue by 5%.
#3: Customers as collaborators: To foster loyalty and a competitive edge, 50% of the A1000 will own online communities by 2027 and core IT application integrations will enable a new wave of collaboration and outcome-based insights.
#4: CX begins with employees: By 2027, 40% of A1000 will incorporate employee experience initiatives into their core CX strategies to compete in CX, talent acquisition, and retention but will struggle to measure EX (Employee Experience) +CX (Customer Experience).
#5: Immersive content equity: Adopting Web3 technologies will drive 40% of A1000 brands to create new immersive experiences, accessible content, engaged communities and grow the CX creator economy into a US$80 billion market by 2025.
#6: Engineered serendipity: By 2025, 45% of the A1000 will use AI/ML to elevate context and nudge customers into unfamiliar and novel experiences that simultaneously improve sentiment metrics and brand upselling potential.
#7: Customer value quantification: By 2024, at least 35% of Asia-based organizations will introduce new success metrics to track and measure the internal and external flows of customer value creation.
#8: Customer success becomes vital: By 2024, 50% of A1000 enterprise customers will primarily select their CX platform provider based on the efficacy of the vendor’s customer success services.
#9: Data sharing risks: By 2024, 30% of Asia-based organizations will be forced to expand data management and privacy measures to mitigate risks of data breaches caused by ecosystem partners costing US$4.6 million per breach.
#10: Community – The metaverse gateway: By 2027, 30% of A1000 companies will build safe communities to foster interpersonal guardrails for future metaverse platforms — and collect first-party data.