CX EXECUTIVE
RESEARCH REPORT
2024
People
Process
Tech
27%
say coaching & training
is their top goal.
2024 CX EXECUTIVE RESEARCH REPORT
BY THE NUMBERS
60%
prioritize AI and
related automation
technologies.
60%
of executives say a trained
and engaged workforce
is vital to day-to-day
operations.
65%
of Fortune 500 Executives
plan to adopt AI &
Automation in the next 12-
18 months
69%
of executives in Telecom and Retail plan to adopt
AI & Automation in the next 12-18 months
50%
say contact center technologies
significantly enhance CX.
2024 CX EXECUTIVE RESEARCH REPORT
Summary, Insights, and More
People are the most critical aspect of contact
center operations, but technology plays
the most significant role in the customer
experience, according to The Northridge
Group’s latest CX Research Report: Executive
Edition 2023.
Northridge Group’s survey of 200 business executives from
Fortune 1000 organizations provides comprehensive information
about the state of the customer experience as it relates to contact
centers. This report offers actionable insights into the challenges
businesses face when adopting new tech, the investments to
prioritize in 2024, and how to create a symbiotic relationship
between people, processes, and technology.
Join us as we explore the results of Northridge Group’s CX
Research Report: Executive Edition 2023. All statistics and insights
outlined below were obtained directly from our survey.
2024 CX EXECUTIVE RESEARCH REPORT
Technology and People:
Harmonizing Contact Center Dynamics
Although people remain the cornerstone of contact center operations,
technology increasingly dictates the quality and efficiency of the
customer experience. This interplay is the critical focus of our CX
Research Report: Executive Edition 2023.
Neither tech nor support agents exist in a vacuum. They are the two foundational pillars of the
contact center ecosystem. Understanding their interdependence will help you curate a better
customer experience that supports your long-term organizational goals and bolsters retention.
2024 CX EXECUTIVE RESEARCH REPORT
By the Numbers
Before shifting attention to the
deeper insights yielded by our
survey, review this rundown of some
key findings that have immediate
implications for your contact
center management strategy.
People vs. Technology Impact
A majority (60%) of executives share that a
trained and engaged workforce is vital for day-
to-day operations. At the same time, more than
50% assert that contact center technologies
significantly enhance the customer experience.
The most successful contact center leaders
understand that the success of one element is
inextricably linked to the other.
Investment Priorities
Investment preferences vary across industries,
but there is an apparent tilt toward technological
improvements. This emphasis on technology
does not diminish the importance of investing in
people through training and coaching. Investing
in the workforce is especially important in sectors
like financial services.
Nearly 60% of respondents prioritize AI and related
automation technologies. Executives in specific
sectors are leaning into AI at an even higher rate:
65% in Fortune 500 companies, 69% in telecom,
and 69% in retail. The AI revolution is in full
swing, and leaders of the world’s top businesses
are on board. This generates a new question,
however: how to incorporate AI technologies into
the contact center efficiently while still engaging
the people? Training is at the top of the list.
Coaching and training come in at a distant second
to technology, with 27% of respondents listing this
as their top goal. However, 50% of respondents
in the financial services sector cite coaching and
training as their primary investment priority. This
number indicates the recognition of the tight
regulations this sector faces, as an under trained
workforce can expose businesses to liability.
Companies need to remember that to maximize
the ROI of their AI investment, they will also need
to invest in training and change management for
their employees.
2024 CX EXECUTIVE RESEARCH REPORT
By the Numbers
Customer Experience Metrics
Everyone understands the importance of
customer experience (CX) metrics like customer
satisfaction scores (CSAT) and net promoter
scores (NPS). Nearly four of five retail executives
(78%) consider CX metrics their top performance
indicators.
Meanwhile, 61% of all executives surveyed
say these metrics are the most important to
their organization. Those that recognize the
importance of CX metrics are shifting their
contact centers to become a loyalty and revenue
generating center.
Additional metrics to consider include the lifetime
value of a customer, the customer health score,
and customer growth engine. These value-based
metrics offer executives supplementary insights
about a customer’s impact at an organization
over time. A customer’s lifetime value shows
the financial impact they have for the duration
of their contract, whether months or years. A
customer health score provides a value for the
health of a customer through select inputs that
span the entire customer experience. Discover
the customer growth engine by subtracting
customers lost from customers gained on a
quarterly basis. This number shows customers
entering vs. leaving the market journey.
Challenges With Technology Investments
Over half (52%) of respondents find building
a compelling business case for technology
investments challenging. This issue is acutely
felt in healthcare (88%). In our experience,
companies that build a strong business case
and define the business requirements and
technology needs to support those requirements
clearly have significantly more successful
implementations.
Although technology may require a significant
initial investment, the long-term benefits, such
as improved customer experiences, increased
retention and reductions in care costs are
invaluable.
Nearly 60% of respondents from Fortune 1000
organizations say contact center technologies
have the greatest positive influence on customer
experience. This includes self-service tools,
including appointment scheduling applications
and online bill pay platforms. In fact, up to 70
percent of medical patients prefer to schedule
their own appointments, according to 2021 data.
Automation tools, especially text reminders and
after visit communications, are just as important.
With the help of automation and AI, connecting
with customers before and after visits is not only
quite simple, but proving to be profitable when
creating loyalty.
The Workforce of the Future
The workforce dynamics of contact centers vary
by industry. While some sectors lean toward
traditional in-office setups, others embrace
the hybrid model. This diversity necessitates
adaptable strategies for training and productivity
assessment.
The proliferation of hybrid and remote work is
reshaping how businesses hire and manage their
workforce. When asked to provide insights about
the future workforce, 42% of respondents foresee
a hybrid model.
To prepare, your organization must first
determine its preferences and consider how
these views align with those of current and
prospective employees. While you may prefer an
in-office approach, many workers find hybrid or
remote options more appealing. However, 64%
of Fortune 500, 50% of telecom, and 43% of retail
executives prefer traditional, in-office setups.
Therefore, you must consider a solution that will
meet your staffing needs while delivering the
best possible experience to your customers.
2024 CX EXECUTIVE RESEARCH REPORT
By the Numbers
Training and Productivity
The new normal of hybrid workers has managers
rethinking how to effectively manage. Nearly
100% of respondents (95%) believe they need
separate productivity assessments based on
employee location (office, home, and hybrid).
Likewise, 92% of executives advocate for location-
specific training (those working remotely vs. in-
office) and coaching methodologies.
No matter what workforce model you use,
managing employees in a remote and hybrid
workforce requires changes to the traditional
approach. Best practice is to incorporate a variety
of learning modalities into any training and
coaching methodologies. These should include a
variety of interactions that are cadenced and ad
hoc to create a connected employee. Companies
that build robust knowledge management
systems have a significant advantage in building
strong performing employees and decreasing the
time to ramp-up after new hire training.
Recently, The Northridge Group worked with a
nationwide retailer to assess their contact center
and identify areas of improvement. Of the many
areas we addressed, new hire training topped
the list. After redesigning their onboarding
training, as well as enhancing Knowledge Articles,
employee retention and engagement increased
by an incredible 8% in just one year. Numbers
continue to climb in year two.
We saw similar results with a large healthcare
company. By redesigning the training process
and tailoring the content to meet the unique
requirements of both facilitators and employees,
the overall experience for both members and
providers improved. Across the company’s three
largest business groups, we saw increased First
Contact Resolution (FCR) rates, decreased Average
Handling Time (AHT), and reduced attrition.
AI and Emerging Technologies
Is your organization ready to embrace the
artificial intelligence revolution? Assessing
AI integration readiness will help prioritize
technology investments and gauge competitive
positioning within your sector.
If limited to one investment, 59% of executives
would prioritize AI and emerging technologies.
This sentiment is particularly strong in the
telecom (69%) and retail (68%) sectors.
According to Forbes, the market for call center
technology is expected to hit $2.8 billion in 2024.
For telecom clients and executives, leveraging AI
and automation benefits can transform contact
centers, leading to more engaging, personalized
customer experiences and smarter decision-
making. If you’re not already considering AI and
emerging technologies for your organization,
now is the best time to do so.
With AI, telecom service providers can achieve a
myriad of objectives, including:
•
Increased loyalty and retention — analytics
help companies to predict customer behavior
in real-time.
•
Increased revenue through cross-selling and
upselling services— using real-time customer
data, companies can anticipate needs and
offer the best services on the right channel at
the right time.
•
Growth acceleration — AI helps providers
increase sales by basing channel bundling
decisions on predicted customer preferences.
If you’re interested in understanding how AI
can benefit your contact center, start with an AI
assessment with an NRG Subject Matter Expert.
They can provide foundational insights into what
your operation is currently using versus what you
need for scaling in order to remain competitive
and offer the highest level of customer service.
2024 CX EXECUTIVE RESEARCH REPORT
People vs. Technology: A Symbiotic Relationship
The data illuminates a critical divide: While people are indispensable, technology
is viewed as the driving force in shaping customer experiences. The success of
contact center operations hinges on harmonizing these two elements.
Emerging technology, such as automation and AI, facilitates operational efficiency, but its effectiveness is
contingent on a skilled workforce. It’s essential to cultivate a well-trained team that can leverage the full
capabilities of your contact center technologies.
Technology investments and coaching and training initiatives should be viewed as something other than
priorities one and two. Instead, consider them 1a and 1b, as the two investments will complement one another
and increase the overall performance of your operations.
2024 CX EXECUTIVE RESEARCH REPORT
Customer Experience: Your Key to Success
Addressing customer experience is foundational
to your contact center’s success — especially in
the worlds of retail and telecom, where customers
are king. Companies that invest in a strong data
strategy and analytics solution will be ahead of their
competitors.
Think of modern data analytics tools as your business’s magnifying
glass. Analytics tools will show you what you’re doing right and where
you might be struggling with customer experience. But more than that,
they’ll give you insight into the root cause of issues so that you know
where to focus your resources.
Hospitals already have tons of patient data points at their fingertips:
name, physical address, email, phone number, insurance information,
employment information. All of these details can be lucrative, high-
quality data points, if a hospital leverages them in a strategic manner.
By analyzing patient data, health insurance providers open the doors to
a variety of marketing use-cases:
•
Identifying core audiences, which in turn, supports the building of
successful content marketing campaigns for the target audience(s)
•
Targeting patients with relevant ads that speak to their individual needs.
•
Pinpointing the marketing channels that drive traffic and offer the
most impact.
A leading healthcare brand recently partnered with The Northridge
Group to promote a better, more consistent customer experience. After
making significant enhancements from associate performance pre- to
post-engagement, the brand experienced a major positive shift in their
customer experience metrics, including an 18-point increase in customer
satisfaction (36% to 54%) and a 10-point increase in first contact
resolution (64% to 74%).
2024 CX EXECUTIVE RESEARCH REPORT
Navigating the Challenges of
Tech Investments
Tech is crucial, but opening up the budget can be tricky,
especially in areas like healthcare. Sometimes, the perks of
technology aren’t easy to see or quantify .
Enter data analytics. These tools will help make a solid case
for investing in better tech. Once new tools are part of
the equation, analytics software will show the benefits of
investment. These will improve the customer’s journey, not
just the contact center experience. The reason being, the
right analytics will point to process issues that need to be
corrected.
For example, data analytics are extremely beneficial for
conducting a root cause analysis that uncovers why some
contact centers struggle with high volumes of repeat calls.
Using the data on hand, it’s easy to discover the issue,
implement a solution and improve the overall customer
experience, as well as reduce costs and increase customer
retention. First Contact Resolution (FCR) is imperative to a
call center’s success, and data analytics are a worthwhile
investment to ensure daily operations run smoothly.