Gartner: growth companies collect more CX data than non-growth ones

Research and advisory organisation Gartner, Inc. has released a new report “Growing Companies Are More Actively Collecting CX Data Than Nongrowth Companies.” that shows companies that have seen a positive revenue growth collect more customer experience (CX) data than nongrowth companies.

The survey found that nearly 80% of growth organisations use customer surveys to collect CX data, compared with just 58% of nongrowth organisations.

Companies that have positive revenue growth from 2018 to 2019 and are projected to continue this growth throughout 2019 to 2020 use of near- and real-time analytics to collect CX data is a rising trend, with 43% of product managers at growth companies using analytics to collect and analyse customer perception and sentiment data.

This is comparison to with just 22% of product managers at nongrowth companies.

“There is a clear trend among growing companies to actively collect CX data using a wide variety of tools such as surveys, usability testing, focus groups and real-time analytics,” said Jessica Ekholm, research vice president, Gartner.

“This is what we call the outside-in approach — the idea that customer value creation, customer orientation and CX will drive long-term business success.”

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Customers surveys used by majority of growth organisations

Customer surveys remain the most popular medium among both growth and nongrowth organisations for collecting CX data, according to the Gartner survey, however they do have some limitations.

Consumers are increasingly experiencing “survey fatigue,” with research showing declining response rates for each subsequent survey that a customer receives.

Survey responses are also often written in haste or provide ambiguous information, lowering the quality of the data collected.

“Despite their widespread use, customer surveys have some flaws that limit their ability to collect quality CX data,” said Ekholm.

“Recognising this, growth companies are beginning to use near- or real-time analytics, to complement or build upon the data collected from surveys.”

Real-time analytics accelerate and deepen CX insights

Gartner believes that Artificial intelligence (AI) technologies can help organisations gather real-time data about customers’ current issues and experiences.

This data can then be used to predict the customer’s next move, proactively recommending features, solutions or actions that improve the customer journey.

“Companies that leverage AI and near- and real-time analytics applications to collect customer data will stand out as CX leaders in the next five to 10 years,” said Ekholm.

Related Topics

Customer Experience