CSG Premieres 2024 State of the Customer Experience Report; Small, Effortless Moments Win Audiences Over Epic Journeys
07 March 2024 - 1:30AM
Business Wire
Research sets the scene for the new era of CX,
in which delivering and measuring value take center stage with
digital intelligence playing a star role
CSG® (NASDAQ: CSGS), a leading SaaS platform company helping
brands make ordinary customer and employee experiences
extraordinary, today released The 2024 State of the Customer
Experience Report. Backed by industry research, internal data,
expert testimonial and customer initiatives, the report identifies
surprising twists in the traditional CX playbook and offers
actionable strategies for brands to roll out the red carpet for
their customers to win long-term loyalty. It shines the spotlight
on a new status quo: the pressure on brand leaders to take a
data-driven, future-focused approach to the customer journey and
prove faster return on investment (ROI) of their projects.
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CSG Premieres 2024 State of the Customer
Experience Report (Graphic: CSG)
“We’re seeing a transformational shift in the way customers
interact with businesses, driven by their heightened expectations
and the breakout role of new, sophisticated technologies,” said Liz
Bauer, EVP and chief experience officer, CSG. “As personalized,
effortless and engaging customer experiences become table stakes,
the traditional script that once guided CX strategies is being
rewritten. Brands must make way for innovative approaches that are
centered around digital intelligence and actionable insights.”
The 2024 State of the Customer Experience Report highlights five
pivotal shifts in the CX playbook:
- Effortless experiences win big. Less is more; customers
appreciate quick, simple interactions that get the job done, even
if they lack glitz and glam. In fact, an extraordinary experience
can be one that is so easy, it’s forgettable.
- Flashforwards are as important as flashbacks. CX-savvy
brands have a wealth of 360-degree customer profiles that can tell
them what customers have done in the past. But it’s not enough to
know what customers did. Now, they need to predict what each
customer will do next – and plan the right actions to help
customers do so effortlessly.
- IT joins the cast. As marketers and CX teams look to
unify data siloed across their tech stack, IT will become a
recurring character, offering the technical skillset needed to help
unify disparate systems, support cybersecurity fortification and
boost data-driven decision-making.
- Not every channel needs a sequel. A winning strategy
doesn’t mean pursuing every channel out there; just the ones that
matter to your customers. Brands need to stay innovative with
channel adoption, but those that chase too many plotlines risk
confusing their audience.
- Win audiences – and justify budget – one scene at a
time. There is more pressure than ever to prove ROI, and this
year’s CX project needs to pay for itself… within the fiscal year.
To achieve this, brands should start small and invest in
microjourney wins. Deliver effortless, impactful journeys that
drive immediate outcomes rather than full-scale, end-to-end
journeys that can take months or years to pay off.
“Today’s customers are tough critics,” said Mark Smith, SVP of
Customer Experience, CSG. “They expect smooth, intuitive
experiences that understand who they are and what they want next –
and get it right on the first take. For CX leaders, a data-driven,
pragmatic mindset is valued now more than ever as teams face
mountains of siloed data and growing complexity across their tech
stack. Through all this, every CX investment will need to tie back
to tangible value for the customer and ROI for the business.”
Read CSG’s full analysis, findings and recommendations –
including where AI fits in the storyline – in the global industry
report: The 2024 State of the Customer Experience Report.
Methodology:
CSG tracked over 13 billion customer journey interactions in
2023 through its customer journey management platform, CSG
Xponent. CSG defines a customer journey interaction as an instance
where an API triggers an action to be taken on a channel within the
customer journey.
Additionally, CSG sourced data from:
- 5.4 billion customer communications
- 740 million printed statements
- 504 trillion billing transactions processed monthly
- 393 million payments and $218 billion worth of payment
transactions
- 95 million field-service work orders processed
About CSG
CSG empowers companies to build unforgettable experiences,
making it easier for people and businesses to connect with, use and
pay for the services they value most. Our customer experience,
billing and payments solutions help companies of any size make
money and make a difference. With our SaaS solutions, company
leaders can take control of their future and tap into guidance
along the way from our fiercely committed and forward-thinking
CSGers around the world.
Want to be future-ready and a change-maker like the global
brands that trust CSG? Visit csgi.com to learn more.
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version on businesswire.com: https://www.businesswire.com/news/home/20240306990075/en/
Julia Dakhlia Public Relations +1 (402) 431-7376
julia.dakhlia@csgi.com
John Rea Investor Relations +1 (210) 687-4409
john.rea@csgi.com
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