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.
The critical failing of user interviews is that you’re asking people to either remember past use or speculate on future use of a system. Both types of responses are extraordinarily weak and often misleading.
Source: Interviewing Users
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.
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.
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