CX Spending Plans Bullish – Why They Should Stay that Way

The majority of companies have rated customer satisfaction as their top business priority for three straight years, and successful companies are investing nearly $2,700 per employee per year in CX technologies. A whopping 65.1% of companies globally say they will increase their customer engagement technology spending in 2023 by an average of 24%--despite concerns about inflation rates, energy prices, and a challenging stock market, according to Metrigy's Technology Spending Update research study of 400 companies. Join Metrigy's CEO Robin Gareiss and Five9's VP of Service Delivery and AI Solutions to learn about the drivers for CX spending--and also which technologies are seeing the highest growth rates in 2023. Join our discussion on the new research findings and why this spending should continue, including the following reasons: • Agent turnover is too high – CX technology helps to automate customer inquiries, improve agent coaching, and identifies low performers. • Customers require help during down economies, particularly in the areas of financial services, high-tech, retail, and hospitality. Give them what they need now, and they’ll be loyal for years to come. • Customers have seen rapid changes and improvement in self-service and digital-first customer service. Companies that stop these projects—or worse yet, can’t support existing ones—will be at a competitive disadvantage. • Customers will continue to hold power. Poor customer experiences will continue to be amplified on social media. Without the teams to address those comments, customers will be wary to continue working with your company. • Virtual will be key. Customers will opt for video exchanges over in-person, in part because they will save on fuel costs and in part because they expect the convenience.