New study finds CX automation enables businesses to double revenue growth
Businesses using customer experience automation (CXA) expect to double their revenue in 2022 (growing by 100% over the next year), compared to the typical 3.5% growth seen from those using legacy email marketing, marketing automation and CRM tools.
This is according to ActiveCampaign's 2022 Customer Experience Automation Impact Study.
The study found that growth is fuelled by businesses more than doubling their new leads year over year, with a reported 110% increase in new leads and a 94% increase in conversions compared to the previous year.
While companies that implement CXA are able to generate nearly half of their revenue from current customers, higher than the 25% industry standard, it's clear that delivering exceptional experiences for new customers has never been more crucial, the researchers state.
The study found both B2B and B2C companies are seeing real business impact after implementing CXA. In fact, B2B organisations reported a 109% average increase in sales effectiveness and nearly doubling (92% increase) their deal win-rate, which they attribute to stronger 1:1 experiences across the entire customer journey.
B2C organisations report CXA helped them achieve a 108% increase in engagement rates from emails, newsletters and campaigns, with better engagement leading to more sales.
CXA also helped eCommerce companies gain back lost revenue and create repeat, loyal customers this past year.
Overall, 78% of eCommerce businesses increased average order value per customer and 70% increased revenue from abandoned carts.
On this, the study finds that CXA goes beyond the message alone and helps customers send it to the right audience at the right time, ensuring the tone and delivery is tailored to each person, creating a true 1:1 experience for all.
Additional findings from the report include the following:
Automation isn't taking jobs, it's providing necessary personnel support: Nearly half of businesses using CXA report that they now spend more time talking to customers because of time saved using automations.
SMBs, especially, rely on automation to combat the tight bandwidth of a small team and limited resources. That's why the general population shouldn't be fearful of automation taking over jobs, but optimistic about the better experiences and balance it provides.
Communicating via one channel just won't cut it: All brands still need to be taking an omnichannel approach 99% of those surveyed agree companies grow faster by using multiple channels beyond email marketing alone and 93% report using their website as an engagement channel to supplement their email marketing efforts.
CXA + social media is the sweet spot for B2C: Nine in 10 (89%) B2C businesses using CXA also leverage social media to share information with existing and potential customers. This omnichannel approach helps improve customer experiences by sending the right message at the time it's going to be best received by existing and potential customers.
Highly relevant communications are critical to a great customer experience: Nearly 80% of CXA users agreed that the technology helps them send highly relevant communications, leading to greater retention and customer acquisition.
Personalisation is table stakes. Customer loyalty all depends on if each individual buyer feels a brand is speaking directly to them and communicating with them based on their own personal wants and needs.
ActiveCampaign chief marketing officer Maria Pergolino says, “Every day we see businesses grow using the power of CXA. This is because they can effectively send the right messages to the right people at the right time.
"Businesses of all sizes save time and create loyal, repeat customers with the 1:1 experiences they are able to put in place. Organisations across all industries are reaping the benefits of being able to reach, nurture and convert prospects which leads to additional business growth.