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What is the CX-Cost Equation?
It’s the need to deliver exceptional customer experiences while also lowering the cost to serve.
Solving the equation has never been more important – amid the threat of budget cuts and need to control costs, organizations must do more with less.
This year’s report details how investing in the solutions such as CX automation will help to close the gap while also creating significant ROI.
Around 50% of business leaders are worried about the negative impact of the economic climate and talent management issues in 2023.
Despite their positive outlook for this year, the highly confident group are the most concerned by the challenges they expect to face over the next 12 months.
Engagement Capacity Gap Infographic
Which business leaders are ready to close the Engagement Capacity Gap?
If you’d like a sneak peak of our research, click to view the infographic and get a taste of our report’s findings including:
- Key engagement areas in 2022
- Concerns for business leaders in 2023
- The CX-Cost Equation
Of the 2,875 business leaders who responded to our survey, 67% are highly confident in their ability to engage their customers. How have they built this level of confidence?
- 50+%
Increased budgets for messaging, social channels and chatbots in 2022
- 85%
Interacted with customers on digital channels last year
- 74%
Are highly likely to use customer experience data to improve engagement
High Confidence Creates Resilience
The business leaders most assured of their outlook for 2023 spent the last two years preparing for the challenges ahead. Despite the threat of a global recession and persistent talent management issues, investment in key areas have contributed to increased confidence.
- Digital First Engagement: Increasing capacity and efficiency through automation and digital channels
- Experience Management: Collecting feedback and aggregating data to improve customer engagement
- Workforce Engagement: Enabling flexible scheduling and tools to create a better working environment
Delivering Exceptional Customer Experience in Challenging Economic Conditions
Discover how to deliver superior customer experience while controlling costs in our global research report; The State of Customer Engagement: Which Organizations are Best Prepared to Solve the CX-Cost Equation?
Hear key insights from our survey of more than 2,800 business leaders to measure and understand the new dynamics influencing the Engagement Capacity Gap.
Ready to solve the CX Equation?
Verint helps you unlock customer engagement possibilities that were barely imagined a few years ago. We’re innovating so you can create differentiated experiences and drive new insights. Talk to a Verint expert to learn more about our industry leading solutions.