What’s the global state of CX in 2024?

The CX Network Weekly is the LinkedIn Newsletter from CX Network. Each week we share our take on a key development in experience management, with links to CX Network resources that can inform, inspire and help your organization’s response.

As 2024 gathers pace, this edition takes a look at the global state of CX. At the start of each year, CX Network conducts its flagship research project to establish the global state of CX, including the trends practitioners are focused on and the pressures they face as they work to deliver the best customer experiences possible.

Last year, our research confirmed that data and AI are instrumental to modern CX. Whether your aim is to drive loyalty or not, even the most basic experiences call for some form of AI at some point in the customer’s journey. In fact, last year’s research showed that CX has plenty of shiny new tools delivering new operational and analytical capabilities, and they are providing CX leaders with the data – and cost savings – required to drive change at the very top of their organization.

This is also positioning them as informed advisors in the wider business and that is great career news for the embattled CX director. It also means that CX is no longer a guessing game. Thanks to the huge volumes of data that are now available, CX offers the visibility and insight that is needed to drive an entire business.

But then we looked at the customer trends our respondents reported:

• Fewer customers are willing to spend more for convenience: 38% of our respondents said customers are willing to spend more for convenience, but this marks a 6% decrease on 2022.
• That’s probably down to global economic conditions, which cannot be underestimated: 43% said the current economic uncertainty in their market influenced customers’ purchasing decisions.
• Loyalty is definitely harder to win: 65% of respondents either agreed or strongly agreed that customers are more willing to switch brands if unsatisfied.

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So much has happened since we last researched the Global State of CX, including the wide(r)spread adoption of generative AI, the ability for customers to also start using generative AI and a whole host of new customer behaviors and demands that emerge almost weekly.

To keep ahead this year, our top contacts say organizations need to adopt new ways to get personal with customers, use AI and LLMs for efficiency and engagement, and rethink the role of the product manager. In short, they need to be prepared for a future where customers are as tech savvy as organizations. Or in some cases, more.

But as the professionals at the coal face, what is your take on the global state of CX in 2024

Our 2024 survey is now open and, in less than 30 questions, asks you about the corporate and customer trends that are shaping your work. To say thank you, everybody who completes the survey is given the opportunity to enter a prize draw to win one of 3 Amazon vouchers, worth US$100 each. Details are at the end of the survey!

The results of our research will be published in May. For now, here are three links to help you deliver the best results possible in the current business environment.

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Here is something to help us help you…

Here’s something to inform you…

Here’s something to inspire you…