SMG continues to innovate in the experience management (XM) space, having been recently recognized as a Leader in customer feedback management in the Forrester WaveTM Customer Feedback Management report. The platform enhancements we rolled out in Q2 continue our efforts to stay ahead of customer needs with expanded capabilities, richer analytics, and cutting-edge data collection + integration.
In addition to aligning our roadmap with clients’ future-state needs, we’re always monitoring industry trends to future-proof our solutions based on how the experience management space is evolving. So, as we run down our platform enhancement updates this quarter, we’re also looking at some forward-looking trends recently uncovered by West Monroe’s Quarterly Executive Poll for Q3 of this year and how SMG’s innovations are keeping pace with businesses’ strategic priorities as they shift to match evolving customer preferences.
According to West Monroe’s poll, executives are investing—with 90% indicating they are planning on spending the extra cash from their company’s balance sheet this year. The majority (52%) see their top opportunities in digital programs, upgrades, and product launches, with the top two project types being internal and customer-facing strategic projects.
With that increased investment on the table, understanding what motivates customers and where to focus effort is critical to maximizing ROI. Survey responses indicate that the two biggest trends currently driving customer behaviors are the ease of doing business (79%) and companies focusing on more individual-centric operations (73%). Meanwhile, the biggest barriers to companies understanding new consumer/buyer preferences are in finding the right data sources (85%) and gaining insights from data (84%).
In short, knowing how to collect data and how to analyze it top the list when considering customer feedback.
These needs are addressed head-on with SMG’s Q2 customer experience management platform enhancements as we continue to develop innovations empowering clients to collect individualized data and integrate datasets from new sources:
In addition, we’ve introduced a powerful new way to analyze data to a deeper + richer degree, including:
While executives see potential in digital investment, what concerns them in the rest of this year is staffing—with 49% indicating that hiring + retention is the top threat to business. Meanwhile, 77% of executives expect to be hiring more people in the near term, but 51% are concerned not enough people with the right skill set are out there.
SMG research consistently shows employee engagement directly correlates with both employee and customer satisfaction, and we continue to drive innovation in employee experience feedback management that improves employee engagement with the following enhancement:
For an example of employee engagement research that helps to overcome today’s challenging labor market, review our recent research-based blog, New employee engagement research answers your top 3 questions on overcoming today's challenging labor market.
Leverage SMG’s platform enhancements to maximize ROI
With so much potential in the marketplace right now, companies need a cutting-edge experience management program that includes analysis informing a path forward—saving time + money. Recently, a Total Economic Impact™ study conducted by Forrester validated how a new client can realize an ROI of over 500% in their first three years of partnership with SMG.
Download the report to see how SMG’s holistic program of platform + services could be adding to your bottom line: The Total Economic Impact™ Of The smg360® Customer Experience (CX) Solution
Marty Williams | Chief Information Officer