SurveyMonkey, a leader in agile software solutions for customer experience, market research, and survey feedback, shared the findings from its new report that examines the current state of customer experience (CX). The research identifies how prioritizing CX can help companies in certain industries through the COVID-19 recovery, and position them for sustained long-term growth.
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SurveyMonkey’s research indicates that some companies with collaborative and agile CX initiatives may be better equipped for success throughout the pandemic. Success in the survey was determined by respondents who say their companies experienced financial growth since the beginning of the pandemic, and identify that they are more likely to withstand an economic downturn. A majority (51%) of these successful companies are able to adapt to changing customer needs “very quickly,” compared to only 18% of companies that are seeing revenue decline, underscoring the importance of agile CX.
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CX has taken higher priority during the crisis. 87% of professionals say that their organization finds customer feedback holds more importance now than before COVID-19. Buy-in from executives also increased significantly, as 89% of the 305 C-level executives surveyed say that they are “extremely invested” in CX.
“Customer retention is the focus for many companies in 2020, but companies that are slow to act are being left behind,” said Christine Rimer, vice president of customer experience and advocacy at SurveyMonkey. “This research uncovers important areas in which CX programs need to improve in order to achieve a greater ROI in a time of need. It is crucial for the entire organization to adopt a customer-first attitude that is supported with actionable customer and operational data. The good news is that 54% of our survey respondents indicated that there has been an increased focus on CX programs from the C-suite since the pandemic began.”
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