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Study Finds Significant Revenue Gains from Customer Experience Automation
What is a great customer experience (CX) automation campaign worth to your business? Quite a lot, according to a study by customer experience solutions provider ActiveCampaign. The company’s new report, entitled the “2022 Customer Experience Automation Impact Study” found businesses using CX automation can expect to double their revenue in 2022 (growing by 100 percent over the next year), compared to the typical 3.5 percent growth seen from those using legacy email marketing, marketing automation and CRM tools.
According to the study, the predicted growth can be attributed to businesses more than doubling their new leads year over year, with a reported 110 percent increase in new leads and a 94 percent increase in conversions compared to the previous year. While companies that implement CXA are able to generate nearly half of their revenue from current customers, higher than the 25 percent industry standard, it’s clear delivering exceptional experiences for new customers has never been more crucial.
To arrive at these conclusions, ActiveCampaign surveyed nearly 600 growing businesses across industries and in more than 20 countries and found both business-to-business and business-to-consumer companies are seeing real business impact after implementing CXA. The survey found b-to-b organizations reported a 109 percent average increase in sales effectiveness and nearly doubling (92 percent increase) their deal win-rate, which they attribute to stronger 1:1 experiences across the entire customer journey. B-to-c organizations report CXA helped them achieve a 108 percent increase in engagement rates from emails, newsletters, and campaigns, with better engagement leading to more sales.
“If businesses aren’t using CXA, they are missing out on better experiences, more customers and higher revenue,” according to ActiveCampaign. “Every day, customers get dozens of emails and messages across multiple channels from similar brands that are offering the same products. A great customer experience is what makes a particular brand stand out and encourages loyal customers. CXA makes brands stand out by demonstrating they are better than the competition in knowing what makes their audience special.”
The study also found automation in the customer journey isn’t replacing human jobs, it’s simply providing more support tools to human personnel. In fact, companies that have implemented customer experience automation are spending more time talking to customers at a higher level of engagement.
Edited by Luke Bellos