MIT SMR Connections
MIT SMR Connections is the custom content creation unit within MIT Sloan Management Review.
Organizations worldwide are boosting investments in key CX technologies. According to a global survey of 2,670 managers conducted by MIT Sloan Management Review Connections and sponsored by SAS, nearly 50% of companies expect to increase their CX technology investments by up to 50% over the next two years.
Globally, organizations are also confident about their return on investment (ROI) for CX technology spending. More than 70% expect positive ROI on their CX technology investments within two years.
Like their peers in the rest of the world, organizations in Europe, the Middle East, and Africa (EMEA) expect to increase short-term spending on key CX technologies such as analytics, personalization, and smart assistants, according to the survey.
They also have high expectation about ROI. The percentage of EMEA-based businesses achieving “large positive” returns is expected to more than double in the next two years. In Europe, it is forecast to nearly triple (from 12% to 34%).
But there’s another side to this coin.
Overall, companies across EMEA appear to have a handle on the strategy and management of CX, by for instance, elevating CX strategy to the level of digital strategy and making CX an operational mainstay. But when it comes to quality of the customer experience, organizations in EMEA often fall short. Our survey found that companies throughout the region are less likely than their global peers to say they offer customers a better experience than their competitors do.
Read this report to learn more about the challenges and drivers of CX success in EMEA and what steps business leaders in these regions can take to boost their organizations’ competitiveness.