Quarter of Australian businesses lack a customer experience strategy
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SYDNEY -- A quarter of senior-level Australian business executives have admitted falling short when it comes to meeting rising customer expectations, with government, education and healthcare organisations struggling with their customer experience (CX) investments in particular.
The Verizon-sponsored survey was conducted at the start of the year involving over two hundred senior executives representing retailers, banks, manufacturers, transport, health and government. Respondents tackled a wide range of questions around a maturity assessment framework including: CX strategy, management, technology capabilities, culture and overall effectiveness in delivering exceptional customer experience. .
The study found that while three quarters of businesses have an enterprise CX strategy, only around a quarter rated the experience they deliver to customers as excellent. Findings of the report, conducted by Fifth Quadrant, also found that:
Services and manufacturing businesses have the highest level of maturity with government, health and education sectors struggling with their investments and use of technology platforms
The biggest obstacles to improving CX include competing priorities, siloed departments and a lack of leadership support within the organisation.
Other factors hampering CX efforts include a lack of funding, and most worryingly, a lack of data and customer insight.
Almost one third of respondents are using Artificial Intelligence tools to deliver CX with half of the respondent companies indicating they are still exploring opportunities.
Robert Le Busque, regional vice president of Verizon Asia Pacific said: “We have seen a clear link between companies that struggle to provide positive customer experiences and public trust, particularly over the last few months. Whether that is providing a niche service to a select few customers or to millions, the ability for companies to find that perfect match between technology and empathy is vital.”
The report also revealed top priorities for improving CX in the next 12 months which include personalisation, digital transformation, reducing customer effort and increasing employee engagement.
About the study
Fifth Quadrant conducted a study to assess the maturity of current capabilities amongst Australian organisations regarding their Customer Experience (CX) strategy, management, technology capabilities, customer experience activities, culture and overall effectiveness in delivering exceptional customer experience. The target audience for this research was Australian based organisations with 100+ employees. To qualify for participation, the respondent needed to have knowledge about their organisation’s Customer Experience strategy and initiatives. The study was conducted through an online survey of 201 senior executives and is sponsored by Verizon Australia.
Find out how Verizon can help you enhance your customer experience strategy.
“We have seen a clear link between companies that struggle to provide positive customer experiences and public trust, particularly over the last few months. Whether that is providing a niche service to a select few customers or to millions, the ability for companies to find that perfect match between technology and empathy is vital.”