“In a world where consumer expectations are boundless and in flux, the stakes are high for delivering an exceptional customer experience (CX). Consequently, more and more organizations are becoming customer obsessed, prioritizing CX but often haphazardly innovating to meet their CX goals.”
More than 70% of technology executives rank CX as the key driver for digital transformation, and rightly so. The organisations getting it right are realising up to a 30% improvement in customer satisfaction and employee engagement [McKinsey, 2022]. With consumer markets becoming increasingly competitive, it’s clear that a tech stack which can integrate content services and enhance end-user experience is critical.
However, with retail and manufacturing margins shrinking up to 5% a year, technology leaders are facing pressure to not only deliver new transformative technologies but also cut costs [McKinsey, 2022]. And as legacy systems become increasingly expensive to maintain, technology leaders face a difficult paradox:
How can you utilise technology to create a CX that provides a competitive edge, whilst battling pressures from the board to mitigate cost?