CX investments soar as brands map customer journeys

“Customer journey mapping” may sound like yet more marketing gobbledygook but, call it what you like, the vast majority of brands are ramping up their customer experience investments to enhance customer satisfaction, reduce operational costs and – ultimately – boost revenues.

A recent study by the Customer Experience Professionals Association in the US revealed that over two-thirds (67%) of CX professionals across the globe are using, or have used, customer journey mapping.

Moreover, almost 90% of those using customer journey mapping said their programme is delivering a positive impact, the most common one being an increase in customer satisfaction; lower churn and fewer customer complaints were also among the top impacts.

Now, according to the Customer Experience Live Intelligence Report 2023, 68% of companies are ramping up their investment in customer journey mapping. Additionally, 62% of companies are re-evaluating voice of customer (VoC), 53% are re-visiting AI strategies, and 40% are actively enhancing their CRM systems.

One brand which is well on the way is BT Group, as global head of data quality and inventory transformation Scott Rolph confirms: “We firmly believe that the customer journey sits at the heart of what we do, forming the compass that guides us toward unparalleled customer satisfaction, sustained growth, and operational excellence.”

The report also provides insights into the expected timeline and budget allocation for tech deployment, showing that three-fifths (60%) of companies are set to make investments in CX solutions within one year and slightly more (62%) are likely to see an increase in investment towards digital experience technology.

Formula E business intelligence director Matt Roberts said: “In today’s fast-paced world, prioritising customer experience is a fundamental aspect of success. The value of CX lies in the connections it forges, the emotions it elicits, and the loyalty it cultivates. For Formula E, it isn’t just a competitive edge; but the foundation of sustained growth and excellence.”