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CAN AI HELP PROVE CX ROI?

Apr 18 2024

Perhaps the biggest challenge CX leaders have is proving the value of CX. Can AI
help? Principal Analyst Pete Jacques thinks so and joins the podcast to explain
how AI can help CX leaders prove ROI.

 * 
 * 
 * 
 * 


FEATURING:

Pete Jacques, Principal Analyst


SHOW NOTES:

Ask any CX leader about the primary issue that keeps them up at night, and
they’ll likely answer that it’s proving the value that their organization
delivers. Many have watched CEOs get impatient while waiting to see the ROI on
the funding they provided for the CX organization. The good news is that AI may
be able to help. In this episode, Principal Analyst Pete Jacques explains how
and provides a preview of his session at the upcoming CX Summit North America
event in June.

The episode starts by benchmarking just how much CX leaders struggle to prove
ROI. Jacques notes that in a recent Forrester survey, a mere 15% of CX leaders
said that they’re very effective at proving the business impact of CX, while 58%
said they are not effective at this. “A lot of CEOs, having initially bought
into the value of CX … are looking for more proof,” he says. “When they look at
what they’re spending on CX, they’re not seeing the return they expected to.”
And if those numbers don’t change, there could be some major changes in how CX
is handled in many enterprises.

From there, the conversation focuses on five ways AI (both generative AI and
more “traditional” AI applications) can help solve this CX conundrum. The first
one discussed is AI’s ability to analyze huge sets of CX survey data to
efficiently review response patterns and detect quality issues faster than a
human can. Next, Jacques points to synthetic data and large language models as a
way to help predict how a customer may react to a certain experience and show
its value before investing in it.

Jacques points out that a more common way AI is said to prove CX ROI and value
is through sentiment analysis of unstructured data, a capability often available
in commonly used CX software. And lastly, AI’s predictive modeling capabilities
can analyze data from multiple sources to help identify when customers are most
satisfied and replicate those experiences for more positive outcomes.

Jacques says that all of these AI-related efforts provide an opportunity to
elevate CX leaders beyond their perceived role of survey leader to a more
strategic customer-focused business leader within the enterprise.

The episode closes with Jacques giving a preview of his upcoming session at CX
Summit North America and upcoming research, so be sure to stay tuned for that.

RELATED LINKS

 * Measure And Prove The Value Of Your CX Function
 * Managing Well In A Hybrid-Work World
 * CX Leaders Are Change Leaders

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Principal Analyst Naveen Chhabra walks through the changes and discusses the
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What It Means June 13, 2024
As payment options have proliferated, they’ve become more than just a way to
make a purchase. What should brands consider as they develop or add payment
options to appeal to buyers? This week on What It Means, Principal Analyst Lily
Varón shares insights and explains what’s ahead for digital payments.
Listen Now


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