Investments in customer experience bear fruit across the board: Research

A study commissioned by Adobe and executed by Forrester has found that APAC companies classified as experience-driven enjoy higher growth than their peers, as well as better metrics across a wide range of factors.

For the report, The Business Impact of Investing in Experience, Forrester surveyed 445 customer-experience technology and metrics decision-makers in Australia, China, India and Japan in January and February of this year.

The report states that APAC brands focusing on CX achieve an average revenue growth rate of 23%, compared with 13% for other companies surveyed.

More findings:

• Only 29% of brands in APAC can claim to be experience-driven businesses, according to a three-pillar analysis that rated multiple factors relating to people, processes and technology.
• Experience-driven brands sacrifice short-term wins in favor of creating holistic experiences. 
• Companies that prioritise holistic CX report higher costs, but also enjoy more than twice as much return on ad spend.
• They also report 80% higher year-on-year growth rates, and a doubling of customer lifetime value.

“The age of the experience driven business is well and truly upon us and it’s encouraging to see brands across APAC investing in experiences and customer loyalty,” said Scott Rigby, head of digital transformation at Adobe. “There is a higher cost for these businesses, but the boost to their revenue growth rate, customer lifetime value, and even the happiness of their employees all mean the investment is worth it.”