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Advancing the CX Profession through Research and Collaboration

By CXPA Admin posted 06-13-2024 05:43 PM

  

At CXPA, we actively contribute to thought leadership and innovation through rigorous research conducted in collaboration with our valued sponsors and partners. By collecting data and insights from the CXPA community, we strive to advance the understanding and professional practice of CX. Here’s a look at a few of our recent research partnerships:

The Pivotal Role of CX Education and Upskilling: Joint Research from McorpCX and CXPA

Customer experience education plays a critical role in enhancing CX maturity across various industries and company sizes. In collaboration with McorpCX, our recent research involved nearly 500 global CX leaders and practitioners to explore the impact of CX education and upskilling on accelerating customer-centric leadership and business performance. Key findings from this research include:

  • Higher CX Maturity: Organizations investing in comprehensive CX education demonstrate higher CX maturity, enabling more consistent customer-centric business practices.
  • Understanding the CX-Business Link: Only 51% of leaders, 33% of managers, and 24% of staff fully grasp the connection between CX and business success, highlighting a significant area for improvement.
  • Tailored Educational Programs: Effective CX education must be customized to an organization’s maturity level, providing a roadmap for integrating CX educational activities into broader business strategies.

The 2024 State of CX Personalization Report: Joint Research from Medallia and CXPA

Personalization has emerged as a top priority for CX practitioners in 2024, reflecting consumers' increasing demand for tailored experiences. The 2024 State of CX Personalization Report, conducted jointly by Medallia and CXPA, offers critical insights into how personalization drives customer loyalty and overall satisfaction. Key findings from this research include:

  • Impact on Brand Loyalty: 82% of customers say personalization drives brand choice, with those rating their experiences as highly personalized reporting an overall satisfaction score of 9.4 out of 10.
  • Revenue Growth: Brands with high self-rated personalization capabilities are twice as likely to achieve major revenue growth (10%+).
  • Top Priority for CX Practitioners: Personalization is the top priority for CX practitioners in 2024, ahead of process improvement and new product development.
  • Role of AI: Artificial intelligence (AI) is seen as crucial for delivering personalization at scale, with increasing investments planned for 2024 to improve data analysis, customer segmentation, and automated interactions.

Building Your CX Dream Team: Joint Research from Heart of the Customer and CXPA

A great CX team is foundational to any successful customer experience strategy. In partnership with Heart of the Customer, our research explored how effective CX teams are built and what differentiates them from the rest. This study involved interviews with 33 North American CX leaders from companies with 500 to 50,000 employees, providing insights into the formation and operation of successful CX teams. Key findings include:

  • Prioritizing Business Connections: Successful CX teams prioritize their connections within the business, understanding and aligning with the needs of various stakeholders.
  • Effective Team Organization: Different organizational models (Small but Mighty, Centralized, Distributed, Federated) offer various benefits and challenges, depending on the company's structure and CX maturity level.
  • Strategic Hiring: Balancing the hiring of generalists and specialists, and considering internal versus external hires, is crucial for building a capable and adaptable CX team.

These insights help organizations structure their CX teams effectively, ensuring they have the right mix of skills and resources to deliver exceptional customer experiences and drive business growth​​.

In addition to these studies, CXPA will soon be publishing the results from its recent quarterly pulse survey in collaboration with Walker. Stay tuned for these results and more by visiting www.cxpaglobal.org/research.


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