The second installment of the ‘2024 Customer Experience Imperatives’ examines leaders’ priorities and behaviours through the lens of customer-centricity, and explores key characteristics of organisations that achieve CX excellence in APAC .
Merkle, dentsu’s technology-enabled, data-driven customer experience management (CXM) company, has released the second installment of its 2024 Customer Experience Imperatives Report research series, titled Winning in Today’s Experience Economy: What CX Leaders Do Differently.
The findings explore the attitudes and priorities of 820 global business leaders – of which 33% are from APAC with a focus on China, India, Singapore, Australia, and Japan.
“The second installment of our 2024 Customer Experience Imperatives focuses on the priorities and actions of CX business leaders in the APAC region, shaped by the evolving expectations of consumers,” said Chris Webb, Chief Operating Officer, Merkle APAC.
“APAC is at the forefront in many aspects of customer experience, showcasing innovative approaches and significant advancements. Brands in this region that are adapting their CX strategies are already seeing remarkable revenue growth, highlighting the immense potential in our markets.”
Key findings for APAC:
1. APAC CX leaders have codified CX strategies and customer-first cultures, prioritizing customer needs in their operations.
2. APAC CX leaders’ investments are more focused on customer feedback than competitor activity.
3. Successful CX organizations in APAC have well-integrated technology to streamline operations and enhance customer interactions, which is crucial for achieving seamless CX transformations.
4. APAC CX leaders implement AI-driven CX solutions at a much faster rate than other groups.
The report also reveals regional insights across industries as well as recommendations for CX excellence in APAC.
In summary, APAC brands stand to reap considerable rewards, as evidenced by the data showing that 65% of APAC CX Leaders who prioritize customer-centricity and use it as a metric for success have witnessed up to a 15% surge in customer retention and loyalty.
Additionally, a notable 20% of these leaders have experienced even greater improvements. Likewise, APAC CX Adopters have enjoyed significant benefits, with 56% seeing a rise of up to 15% in customer retention and loyalty, and 36% witnessing improvements exceeding 15%.
“While APAC CX Leaders are at the top in terms of CX leadership and principles, our findings also shed light on some areas for improvement. There is much to be done by APAC brands in the adoption of integrated technologies, and to amply prepare for a cookieless future,” Webb adds.
“The need for greater collaboration among APAC CX Leaders as well as cooperation and coordination among departments and stakeholders in the utilization of integrated technologies is imperative for enabling CX excellence in the APAC region.”
Merkle has released its CX Imperatives report for the past 12 years, and this is the first year it is supported by comprehensive research across both global consumer and CX practitioner populations.
The survey, conducted in late 2023, included 2,100 consumers and 820 business leaders across 18 countries.
Visit here to download the report Winning in Today’s Experience Economy: What CX Leaders Do Differently.
