CX technology investments should increase in the new year, as enterprises use the tools to address challenges like addressing labor shortages and eliminating hold times.
Business leaders are wise to the importance of customer satisfaction, and it shows in their 2023 spending plans. More companies plan to increase their spending on customer engagement technologies than any other technology segment measured in Metrigy’s 2023 Technology Spending Outlook global research study of 400 IT, CX, and business leaders.
Indeed, 65.1% plan to increase CX technology spending by an average of 24%. This figure is even more telling about the value of these technologies when you consider broader spending plans: Only 25.7% plan to increase overall business spending and 49% plan to increase overall technology spending.
Despite a very uncertain economy, the value of technologies that enhance customer experience is quite certain. These technologies include contact center, CRM, and CPaaS platforms, as well as customer loyalty apps, analytics tools, and AI-based virtual assistants. Based on discussions with our enterprise, vendor clients, and research participants, and coupled with my analysis of the market, here are my eight predictions for 2023:
1. The three A’s: AI, analytics, and automation will become more prevalent and strategic. Through the use of AI in areas such as agent assist, customer support, and predictive tools, organizations will be able to achieve a few key goals:
- Automate both mundane and increasingly complex tasks
- Guide customers through self-service platforms for quick resolution
- Assist agents in helping customers through screen-pops and predictive analytics
They’ll also be able to use analytics tools to determine whether, and to what extent, AI and automation actually improved business metrics. For example, did the virtual assistant help or frustrate customers using the self-service FAQ? Did the agent assist screen-pops actually make agents more productive last month? Then, they can use those findings to make data-backed decisions on what changes they should — and shouldn’t — make.
2. Customer insights and feedback will become more vital and widely used:
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