The CX landscape in 2022 will undergo significant shifts. Keep an eye on these top 7 trends to win in the experience economy.
#1. An overall holistic and seamless experience for consumers
By 2026, 60% of large enterprises will unite CX, user experience, EX and multi-experience to transform their business models and achieve a more holistic overall experience for all stakeholders according to Gartner. Over half of pandemic-era services will become the New Normal. Post-pandemic consumers demand to see digital and offline experiences merged seamlessly and work well.
#2. EX practices could influence two-fifths of consumers’ purchase decisions
Employee Experiences (EX) could have a bearing on the end consumer’s purchase choices. Today’s customers are becoming aware and vocal about the human cost of convenience. Employee experience takes center stage as there’s going to be a shift from digital to human-centered tech transformation (aligns CX & EX) to deliver a 3% to 5% net gain in productivity. Employee psychology and experiences matter as 15% of enterprises will monitor them as part of their automation strategy according to Forrester.
#3. “Anywhere X” leaders will enjoy a steep revenue advantage
The year 2022 will witness leaders deploy a virtual-first & remote-first architecture for the ‘anywhere work’ and ‘anywhere commerce’ world. This kind of architecture will focus on delivering high-quality eXperiences on the go than physical touchpoints. Consumers will willingly pay for offerings that enable such freedom and they’ll flaunt their device-enabled mobility.
#4. Insights-led companies will increase their chances to beat competition by 3 times
What obscures meaningful customer insights from brands are cookie depreciation and opaque AI. To prevent insights from being obscured, the number of brands that collect info on ZPD (Zero Party Data) will double according to Forrester. From a leadership standpoint, CDOs (Chief Data Officers) will be required to ensure seamless flow of customer insights between marketing, support and the rest of the organization to gain an edge over competition.
#5. Customer skepticism around data will threaten targeting & propel digital trust programs
Digital trust programs are gaining increasing traction. Decentralized digital identity will become a reality across industries. According to Forrester, 10% of US firms will turn their attention to privacy & consent journeys. To offer personalized experiences, companies will need to collect more data directly from customers.
#6. ESG values will dictate purchase behaviors in 2022 & brands will be forced to listen
Growing consumer skepticism about the ability of brands to follow through on their sustainability promises will fuel more transparent action from brands. Moreover, consumers will expect brands to lead social and environmental change; corporate values will increasingly influence consumers’ purchase decisions. According to Forrester, $10 billion in design spending will shift to vendors and services who are committed to accessibility.
#7. Multitrillion-dollar metaverse market will beckon a new age of AI
According to Forrester, over five deployments of enterprise metaverse will become a reality in 2022 with advancements in 3D computer vision.
When it comes to spurring rapid innovation in personalized experiences, generative or creative AI will lead the way. AI models will advance as large enterprises will introduce bias bounties (like bug bounties of yesteryears). Explainable AI and generative AI will be in focus as 20% of enterprises will use explainable AI to debias their models and get transformational insights according to Forrester.