Aussie companies spend big on customer experience

Australasian companies are spending heavily on improving the customer experience and consider achieving this goal to be essential to their company’s digital transformation, research shows.

A study of C-suite executives, conducted for Genesys by the Economist Intelligence Unit, shows that 80% of APAC companies plan to increase their customer experience investment over the next three years.

In addition, 20% intend to increase their investment by more than a quarter and 30% are budgeting for a 10-24% increase. Just 4% are planning to decrease their investment over the period.

Improving customer retention is an important factor contributing to increased spending, with 40% of Australasian respondents considering this to be one of the main benefits of customer experience investment. Driving sales and improving customer satisfaction are also priorities.

Globally, larger companies are now cutting back on their investment in the customer experience, leaving Australasian organisations to lead investment growth in the area.

The survey also shows that 86% of Australasian C-level executives consider improving the customer experience to be a key driver of their company’s digital transformation.

“More and more senior executives are beginning to not only understand their digital consumer but also see the urgent need for customer experience innovation to be prioritised on their investment agenda and to keep up with today’s digitally driven customer,” Genesis Asia Pacific MD Bruce Eidsvik commented.

“With this in mind, organisations need to consistently evolve to meet the growing demands of their customers, build trust, increase loyalty and drive revenue growth.”

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