Eighty-Four Percent of Chief Customer Experience Executives Do Not Have Accurate Means to Measure ROI on Social Media Policy, Consero Survey Reveals

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Eighty-Four Percent of Chief Customer Experience Executives Do Not Have Accurate Means to Measure ROI on Social Media Policy, Consero Survey Reveals

Survey Also Shows 54 Percent of Customer Experience Executives Have Not Used Big Data To Improve Strategy

BETHESDA, Md- (May 7, 2014) – Eighty-four percent of Chief Customer Experience Executives surveyed said they do not have an accurate means to measure ROI on the company’s social media policy, according to a new survey by Consero Group, an international leader in creating high-level, invitation-only events for senior executives. The results were reported as part of the Spring 2014 Customer Experience Data Survey, compiled by Consero Group.

“Customers’ ability to create instant product evaluations through social media has changed the nature of customer interactions,” said Paul Mandell, Founder & CEO of Consero. “According to our survey, one area for concern is in the ability of the Customer Experience departments to measure the ROI of their social media policies, which could limit their ability to leverage social media optimally.”

Fifty-Four Percent Have Not Used Big Data to Improve Strategy

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According to the Consero survey, more than half (54%) of Customer Experience executives have not used big data to improve their customer experience strategy.

In addition, just 24 percent use gamification, the application of typical elements of game playing to encourage engagement.  However, nearly three-quarter (71%) have used journey mapping, a tool companies use to understand the customer experience throughout the cycle of interactions, as part of their long-term customer experience strategy.

“As the demands on Customer Experience departments continue to increase, Chief Customer Experience Officers need a variety of new tools and processes to retain customers in a competitive marketplace,” said Mandell.  “While journey mapping has been more widely adopted, we project that tools such as gamification and the use of big data are likely to likely to draw more adopters over the coming year.”

Other findings included:

  • Budgets and Staff Sizes Increasing: Sixty-five percent of Customer Experience executives said their staff sizes increased and 68 percent said their departmental budgets increased over the last 12 months.
  • Resources Remain Insufficient: Despite the increases in staff and budget, just 39 percent said they currently have sufficient resources to manage their departments effectively.
  • Cross-Channel Integration Not Fully in Place: Only 62 percent of Customer Experience executives surveyed have cross-channel integration in place.

The 2014 Customer Experience Data Survey included 11 questions that were posed to all Chief Customer Experience Officers from Fortune 1000 companies in connection with an invitation-only event hosted by Consero Group in March 2014. A total of 51 responses were provided.

About Consero

Founded in 2010, Consero Group is an international leader in creating industry-specific events for senior-level executives in industries that include: Legal, Compliance, Shared Services, Customer Experience, Finance, IT, HR, Procurement, among others. With operations in the U.S. and in Europe, Consero is best known for transforming the executive experience through intimate, invitation-only programs in a sophisticated learning environment with high-level content. For more information on Consero, please visit www.consero.com.

Contact:

Mark Pasetsky
Mark Allen & Company
212.699.3756
mark@markallenco.com