Adobe Digital Trends 2020: CX-focused brands are three times more successful

The market research institute Econsultancy conducted the study on behalf of Adobe for the tenth year. According to the findings, brands with a clear CX focus are three times more likely than their competitors to exceed their business goals.

There is a considerable gap between aspiration and reality when it comes to the customer experience

Brands in Europe have recognized the great importance of an experience-oriented customer approach. According to the study, almost a quarter (22%) of them see the greatest business potential for 2020 in CX optimization. The focus on CX is particularly pronounced in Scandinavia (26%), France (25%) and the UK (24%).

In many other European countries, however, there is still a considerable gap between aspiration and reality in customer experience management (CXM). Only around one in ten brands in Europe (9 percent) would describe their CX development as "very advanced". There is a need for action.

In focus: New data strategies for greater transparency

Basically, if you want to create inspiring customer experiences, you need a good data basis. Compared to companies in other regions, 36% more brands in Europe show a great interest in data with a focus on individuals. France and the Scandinavian countries in particular are investing more in first-hand data.

However, it is also clear that it is more important than ever to respect customers' privacy. This is probably one of the reasons why companies in Germany are still a little hesitant when it comes to new strategies based on customer consent. Only one in ten German brands is already using this option for their customer approach.

AI is becoming the trump card for targeted and personalized customer experiences

Many brands can tell you a thing or two about it: CXM sometimes eats up an enormous amount of time and resources. And this is exactly where artificial intelligence (AI) comes into play: almost one in five companies in Europe (18%) already use AI to bring data and content together to create inspiring customer experiences. In 2020, 28% of European companies see targeting and personalization as a key focus in order to optimize the customer experience for the digital target group. Swiss telecommunications provider Swisscom and its AI workflow are just one example of what this can look like in practice.

An important task in 2020: attracting and retaining talent

In addition to the right data and technologies, Europe's brands will need the right employees in 2020. Almost one in five CX companies (18%) see the recruitment and retention of talent in CX-related areas as one of the most important tasks. Across Europe, more than one in four brands (29%) are also convinced that the skills shortage is preventing them from creating successful digital customer experiences. To close the digital skills gap, particularly in the area of AI and machine learning, brands need to adopt an agile approach to training that is aligned with a long-term business strategy, flows from the top down and spans the entire organization.