The State of Customer Management in 2024

It appears the penny has finally dropped.

With 63% of customer management leaders reporting that improving CX strategy is either “high” or “very high” on their C-suite’s agenda, and 67% set to see their CX budgets increase in 2024, the stage is set for this to be a groundbreaking year in the industry. There is growing sentiment among executive leadership that customer management must now take centre stage – the time is now to break free from the shackles of legacy thinking and build the foundations of nimble customer-facing operational architecture (technology, processes, data) that can future-proof business resilience.

In 2023, the greatest technological advancement since the introduction of the smartphone began making massive waves in the customer management space: generative AI. A tool that promises much, and the evolution of which is certainly not one to watch from the metaphorical sidelines. Innovations are springing up at pace and any failure to move with the transformation could be to risk falling behind (or worse).

As the industry teeters on the precipice of unprecedented disruption, how are customer management teams preparing? What are their top priorities as we move through 2024? How is (or will) generative AI fit into their organisational framework? And what challenges are currently top of mind?

A Figurative Lay of the Customer Management Land

To get answers to all these questions (and more), CCW Europe surveyed over 140 customer management thought leaders. All pioneers in their respective domains spanning customer care, support services, customer operations, customer insights, product management, and many more, the respondents collectively came from a range of companies of all sizes plying their trade across all the major industries. The results form the basis of this report.

Key Findings Include:

• “Enabling better CX through technology” will be the number one priority for 40% of customer management leaders over the course of 2024.
• “Implementation and management costs” (31%) are cited as the biggest barrier to adopting AI, closely followed by “concerns around privacy and regulation” (30%).
• Only a fractional 11% of respondents say they are “inactive” in terms of bringing CX-focused AI technology into their roadmaps.
• Grappling with an “insufficient technology framework” is the predominant challenge for respondents in the context of implementing their desired CX.
• A significant 60% report using more than five data sources to execute their strategies with 5% employing more than 30(!)

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Want to dig deep into how customer management leaders are currently primed to navigate the winds of change on the horizon this year? Download the full report today.