Results Reveal How Channel Organizations are Approaching Today’s Most Critical Customer Experience Issues and Trends
360insights, the global channel incentives leader, today released findings from its Q4 Channel Pulse™ Report, which shares valuable insight into channel management trends across a curated community of over 1,000 channel professionals. This quarter 360insights takes a deep dive into customer experience (CX). The report reveals surprising findings on how channel leaders view CX competition, as well as how they plan to overcome distribution challenges, including CX impact measurement.
“While the CX bar is clearly rising across industries, the struggle for differentiation remains a key theme, along with evolving juxtaposition of customer acquisition vs. retention. All-in-all, however, channel involvement in moving CX initiatives forward is essential to success,” said Paul Yantus 360insights’ VP of Marketing at 360insights. “Our Q4 Channel Pulse report covers today’s most critical CX themes in-depth, highlighting potential challenges and opportunities for market leaders at the start of a new decade.”
360insights conducted the Q4 2019 Channel Pulse survey to gain a holistic, cross-sector look at key channel trends and investments – targeting North American senior executives from a range of industries who directly oversee channel management. In the latest Channel Pulse™ report, 360insights surveyed senior channel leaders to uncover how they’re adapting to a changing marketplace and evolving CX demands. Highlights from the report include the following:
- CX Impact on Customer Retention and Acquisition: The overwhelming majority of respondents (94 percent) agreed that CX is a crucial part of their marketing strategy. When asked to share the biggest CX benefits, customer acquisition fell behind customer retention, with 69 percent of respondents believing that CX is more valuable for retaining customers.
- CX as a Competitive Focus: More than half of respondents (52 percent) named Competitive Differentiation as their primary motive for upping their CX focus. 71 percent of respondents rated their CX as slightly ahead of their closest competitors, with less than one-fifth significantly differentiating themselves from the competition.
- Channel Partnership and Enablement Improves CX: 89 percent of respondents believe that channel enablement plays a big role in achieving great CX, while 59 percent said their channel cares as much about CX as they do and a quarter calling their channels “passionate advocates” of CX.
- Updating CX Measurement is a Must-Have: Most survey respondents are still leveraging very traditional methods to measure CX, including Surveys (33 percent), Customer Engagement Metrics (26 percent) and QBRs (23 percent). By updating measurement tools, companies can more effectively prioritize CX as a key KPI.
The report is made available free of charge to any interested party. Those interested in obtaining a copy and/or participating in the Channel Pulse community and any future reports or events can do so at https://go.360insights.com/channel-trends. For more information about 360insights, visit www.360insights.com.
360insights is a global channel incentives leader offering rebate processing, SPIFF programs, co-op advertising and channel analytics. The company’s Channel Success Platform™ is the first truly integrated software-as-a-service solution enabling brands to optimize their channel incentives spending. Based in Whitby, Ontario, the company serves over 150 of the world’s top brands and has expanded to have operations around the USA and UK. For more information, visit www.360insights.com.