Sprinklr Industry Benchmarking Reports Reveal Best Practices for Improving Digital Customer Experiences
Analyzing the state of Unified-CXM across 5 industries: retail, technology, food & beverage, media & entertainment, and the pharmaceutical industry
NEW YORK, NY — October 25, 2021 – Sprinklr (NYSE: CXM), the unified customer experience management (Unified-CXM) platform for modern enterprises, today unveiled its Industry Benchmarking Reports for Digital Unified-CXM. The research surveyed more than 1,500 professionals worldwide and leveraged Sprinklr Modern Research to analyze owned and earned digital conversations from the top 2021 Forbes Global 2000 companies to help brands compare their own customer experience management maturity against industry peers.
The reports highlight how leading companies encourage brand advocacy, engage with customers, and respond to them efficiently across digital channels. To download the reports, please click one of the following industries: retail, technology, food & beverage, media & entertainment, and pharmaceutical.
Key insights from the reports:
RETAIL: More than half of retail brands respond to customer comments within 5 hours, while 18% respond within 30 minutes.
TECHNOLOGY: 82% rate their unified CXM maturity on a high scale with 17% ranking themselves at the highest level. 84% report they are embracing AI frequently to understand the intent of the unprecedented volume of publicly available data.
FOOD & BEVERAGE: Only 45% of food and beverage companies use listening for competitive insights that could fuel innovation.
MEDIA & ENTERTAINMENT: 85% use insights from listening to public social media conversations to inform their marketing strategy.
PHARMACEUTICAL: 64% of pharmaceutical companies take over 1 week to respond to customer inquiries on social media and messaging channels, or don’t respond at all, and less than 50% of pharma companies make an effort to respond to questions requiring individual follow up.
“Our research shows that there is significant room for improvement across industries when it comes to real-time, unified customer experience management. Even before the pandemic hit, customers expected fast, personalized responses and engagement across digital channels. Now the high standard for Unified-CXM that brands must meet is only increasing,” said Ragy Thomas, CEO & Founder, Sprinklr. “Leading brands are becoming customer centric by doubling down on AI adoption to increase their efficiency at scale, while powering business growth with digital customer insights.”
Sprinklr’s Digital Unified-CXM Benchmarking Reports analyzed both owned and earned digital conversations from the second quarter of 2021 (April 1 to June 30, 2021). In addition, brand time to first response (SLA) was calculated between 9:00 AM EST - 5:00 PM EST, Monday - Friday across the top Facebook and Twitter accounts for the brand (if the brand had a dedicated Twitter support handle that was also included in the time to first response calculation). Sprinklr also included data from a commissioned 3rd-party survey of 300 senior executives in each industry (1,500 total) from April 1, 2021 to August 13, 2021. Furthermore, the reports include an analysis of the 60 top technology brands by revenue from the 2021 Forbes Global 2000.
Sprinklr is a leading enterprise software company for all customer-facing functions. With advanced AI, Sprinklr's unified customer experience management (Unified-CXM) platform helps companies deliver human experiences to every customer, every time, across any modern channel. Headquartered in New York City with employees around the world, Sprinklr works with more than 1,000 of the world’s most valuable enterprises — global brands like Microsoft, P&G, Samsung, and more than 50% of the Fortune 100.