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Being in a customer experience technology role comes with a certain amount of job security.

Consider these recent Metrigy research findings:

  • The majority of companies have rated customer satisfaction as one of their top three business priorities (and the highest percentage rated it as No. 1) for three straight years, ahead of other factors such as revenue generation, product/service quality, and security, among others.
  • Successful companies (those with higher-than-average business success metrics resulting from the use of CX technologies) are spending nearly $2,700 per employee annually on CX technologies, compared to only $1,400 for those showing below-average success metrics, according to Metrigy’s Customer Engagement Transformation 2022-23 research study.
  • More than 65% of companies say they are increasing CX spending in 2023, by an average of 24%. No other technology area garnered a higher number of companies increasing spending. What’s more, only 9.6% of companies plan to decrease CX spending, the lowest of any technology category measured, according to Metrigy’s Technology Spending Update research study conducted in August 2022.

I’m the first to say this economy is questionable and scary—and it makes me rethink any spending decision, personally or professionally. It’s understandable that some companies are playing it safe and reducing overall business spending or keeping it flat.

But with customer-facing technologies, that’s a different story. The uncertain economy presents some significant opportunities for investment that ultimately can differentiate organizations and increase loyalty among both customers and employees.

I see five key reasons that business leaders should continue being bullish on their CX spending.

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Robin Gareiss

Robin Gareiss is CEO and Principal Analyst at Metrigy, where she oversees research product development, conducts primary research, and advises leading enterprises, vendors, and carriers focusing on customer experience and engagement, digital transformation, and contact center.