10 Stats Showing The Growth Of CX

When I first started writing and speaking about customer experience nearly 15 years ago, it was a foreign topic for many business professionals. CX was something that happened by chance or that was managed by a tiny group of people in the corner of the office, not a priority for executives and the entire company. 

Times have definitely changed.

Today, customer experience is a powerhouse driving growth and revenue at companies across the world. As the discipline has grown, so too has the number of people working in the field and its importance and credibility. CX is no longer the second cousin shunned to the kids’ table at family dinner—it is in its rightful spot at the head of the table. Customers have power, and companies realize the value of investing in great experiences.

Here are 10 ways that show the growth of CX as an industry and practice. 

1 . Two-thirds of companies compete on customer experience, up from 36% in 2010. (Gartner)

2 . 95% of leading organizations cite CX job roles as important to achieving business growth—the highest of any job role. (Econsultancy)

3 . Nearly 90% of companies have a CXO or equivalent executive, compared to 65% of companies with a CXO in 2017. (Gartner)

4 . 56% of B2C companies have a dedicated CX team, with most formed in the last one to two years. (Usersnap)

5 . Global CX technology spending is expected to reach $641 billion in 2022. (IDC)

6 . The size of the U.S. CX industry is expected to grow 15% annually from 2021 to 2028. (Grand View Research)

7 . The number of brands improving their CX in 2020 was up 13% from 2019, and the number is expected to grow further in 2021. (Forrester)

8 . 87% of business leaders tag CX as their top growth engine—the highest of any other growth area. (North Highland)

9 . 76% of executives say improving CX is a high or critical priority. (Forrester)

10 . 70% of financial companies, 58% of tech companies and 50% of retailers anticipate having a larger budget to invest in CX technology in 2021. (Zendesk)

Clearly, the CX industry is growing in size, power and prestige. To celebrate that growth and better prepare CX professionals for success in the rapidly changing post-COVID world, I’m launching a brand-new customer experience community at customerexperiencecommunity.com. With CX changing and growing every day, having the best resources and support is crucial to success. The goal of the community is to give you the tools and resources you need to be supported and lead the best CX change possible.

I may have been alone when I dove into CX more than a decade ago, but you don’t have to be alone today. Customer experience is a powerful and exciting industry, and this new community will bring together CX professionals from around the world to take it to the next level. 

Blake Morgan is a customer experience futurist, keynote speaker and the author of the bestselling book The Customer Of The Future. Be part of the brand new Customer Experience Community here.