Publication date: 02 Oct 2023
IDC: Customer Experience Investments Remain Resilient Against Budget Cuts
Leveraging Experiential Value Streams Key to Meaningful Customer Relationships
SINGAPORE, 2 October 2023 – A recent 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.
The IDC report, How Do Experiential Value Streams Contribute to Customer Success? (Doc #AP49173823), discusses the importance of value creation for stakeholders in the future enterprise such as customers, partners, employees, management, community, environment, and so on. IDC explores the market trends and developments leading to the change in how value is perceived, how organizations can measure the value from their digital transformation initiatives, CX investment priorities, and how tech buyers are investing in this value.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDCAP and LinkedIn. Subscribe to the IDC Blog for industry news and insights.
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