Customer experience investments remain resilient against budget cuts

Photo by Isaac Smith

An International Data Corporation (IDC) report titled “How Do Experiential Value Streams Contribute to Customer Success? ” highlights that amidst looming recession fears shared by nearly half of Asia/Pacific including Japan (APJ) organizations, customer experience (CX) stands as a top priority, largely immune to budget cuts and essential for investment in 2023.

However, APJ C-suite leaders report challenges. According to IDC’s C-suite Sentiment Survey 2022, the top three hurdles they face in completing their digital initiatives are a lack of confidence due to elusive ROI, organizational silos hampering scalability, and a deficit in technical know-how within the C-suite.

In a market landscape dominated by trends like green consumerism, the pervasive integration of AI, and a sea of digital sameness, focusing on value emerges as a critical differentiator. It’s imperative for organizations to define and effectively communicate this value, both internally and externally.

Enter the concept of ‘value streams’ – a strategic approach that focuses on delivering what stakeholders truly need and desire, using an outside-in perspective to align offerings with stakeholder expectations.

“With market trends like green consumerism, the platform economy, and the rise of AI, the perception of value in C-suite discussions is evolving. It’s vital for tech buyers to reevaluate their value creation strategies to uncover untapped opportunities and enhance enterprise value for all stakeholders,” says Lavanya Jindal, Research Analyst, CX and Value Streams, IDC Asia Pacific.