We surveyed over 1,500 executives at companies with 2,000 or more employees around the world about the state of experience management (XM) at their organizations. In this data snapshot, we examined the experience management capabilities, obstacles, and expected need for experience management that they reported. Some key takeaways include:
- Companies with good XM have better business performance. Executives who report that their companies have significantly above-average experience management capabilities are 52-percentage points more likely to report above-average revenue growth and 48-percentage points more likely to report above-average profitability.
- Most companies will put more energy into their CX, EX, PX, and BX efforts this year. 73% of executives say that they’ll devote more effort to their customer experience programs this year. 72%, 70%, and 68% of executives say the same for employee experience, product experience, and brand experience, respectively.
- Executives report strong XM skills and capabilities. More than 8 out of 10 executives say their organization has strong XM skills and capabilities. 80% say the same about their XM technology, and 75% report having a strong organizational culture that encourages XM.
- ‘Technological limitations’ and ‘lack of clear strategy’ are top XM obstacles. Executives who report at or below average XM capabilities most frequently cite ‘lack of clear strategy’ as an obstacle (29%), while those who report significantly above average XM capabilities find ‘technological limitations’ most challenging (26%).
- Expect adjustments to customer and employee interactions. Over half of executives say their organization needs to make significant changes to how it interacts with employees and customers. Under 3% of executives expect no change to their customer and employee interactions.
Here are the figures in this data snapshot:
- Business Performance by XM Capabilities
- Importance of Improving XM
- Importance of Improving Experience Areas
- Using Insights to Improve CX
- Using Insights to Improve EX
- XM Capabilities: Overview
- XM Capability: Technology
- XM Capability: Culture
- XM Capability: Skills and Capabilities
- Obstacles: Overall
- Obstacles: by XM Assessment
- Looking Ahead: Customer Interactions
- Looking Ahead: Employee Interactions
- Looking Ahead: Products and Services