🗂 Link: Spending on Customer Experience Technologies Will Reach $641 Billion in 2022, According to New IDC Spending Guide

Worldwide spending on customer experience (CX) technologies will total $508 billion in 2019, an increase of 7.9% over 2018, according to the inaugural Worldwide Semiannual Customer Experience Spending Guide from International Data Corporation (IDC). As companies focus on meeting the expectations of customers and providing a differentiated customer experience, IDC expects CX spending to achieve a compound annual growth rate (CAGR) of 8.2% over the 2018-2022 forecast period, reaching $641 billion in 2022.

Source: Spending on Customer Experience Technologies Will Reach $641 Billion in 2022, According to New IDC Spending Guide

🗂 Link: Alternative Payment Methods Enable International Purchases

If people from other countries already visit your site and make purchases, you might think it isn’t necessary to adjust your payment methods for them. But you’d be wrong. For each international customer that makes a purchase, there could be others who abandon checkout because they aren’t comfortable with any of the options available.

Source: Alternative Payment Methods Enable International Purchases

Link: Adobe Summit 2019 analysis – CX hype is countered by Chegg’s digital turnaround story

Chegg isn’t digital-only today. They still ship five million textbooks a year – but their mission has changed. And, as Narayan pointed out, they now need new metrics. Rosensweig said those metrics include subscriber growth, revenue growth, engagement, renewal, and conversion rates. But there’s an underlying metric: create something awesome.

What we learned was you not only have to get them to subscribe, you [also have to] lower your cost to customer acquisition, which at one point for us was 27 dollars. Now it’s $3.50. Our renewal rates were 63 percent; they’re now in the mid-80s for a monthly renewal.

Source: Adobe Summit 2019 analysis – CX hype is countered by Chegg’s digital turnaround story

Link: Why Digital Workplace Apps Are Not Producing Great Customer Experiences

16 percent of respondents rate their digital experience offering in the top 25 percent.
26 percent rated digital banking experiences as in the bottom half of digital experiences.
49 percent rated digital government experiences in the bottom half.
Original source: Why Digital Workplace Apps Are Not Producing Great Customer Experiences