CFOtech Asia logo
Technology news for Asia's CFOs and financial decision-makers
Story image

New study finds CX automation enables businesses to double revenue growth

By Catherine Knowles
Thu 27 Jan 2022

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.”

Related stories
Top stories
Story image
Microsoft
Microsoft previews Power Platform website design offering
Microsoft has announced the preview of Power Pages, the fifth product in its Power Platform family, designed for low-code makers and professional developers.
Story image
SaaS
The paradox of change, and how to get around it
The business decision to technologically transform should not come from an IT department but from the business itself.
Story image
Hybrid Cloud
Barracuda expands cloud-native SASE platform
"The expansion of Barracuda's cloud-native SASE platform for hybrid deployment models and IIoT environments solves a number of challenges."
Story image
Digital Transformation
Digital transformation increasing business complexities
A new survey suggests businesses must re-examine their digital transformation approach to better help employees adapt to change.
Story image
Ransomware
A third of companies paying ransom don’t recover data - report
Veeam's report finds 76% of businesses who are victims of cyberattacks paid the ransom to recover data, but a third were still unable to get their information back.
Story image
Safety
Voxel hits total funding of $18M following ongoing wins
Since raising its seed round in September, Voxel has grown at pace, by decreasing on-site injuries by upwards of 80% and increasing operational productivity.
Story image
Artificial Intelligence
Gartner reveals top three tech trends for banks this year
Gartner says generative artificial intelligence, autonomic systems and privacy-enhancing computation are gaining traction in banking and investment services.
Story image
Public Cloud
Cloud adoption still a work in progress, NetApp finds
NetApp has announced the results of the annual Cloud Infrastructure Report based on a survey of public cloud business and IT decision makers.
Story image
Microsoft
SAS Viya on Microsoft Azure to deliver 204% return - study
The Forrester Total Economic Impact study finds SAS Viya on Microsoft Azure brings a 204% return on investment over three years.
Story image
Artificial Intelligence
CFOs using digital workers and AI to prevent unnecessary loss
New technology is now allowing CFOs to use digital workers to automate their accounting processes, making it easier for them to avoid unnecessary losses.
Story image
Attain
Revenue operations is taking centre stage
As the business world continues to evolve, new demands need to be met to keep up with the ever-changing landscape. 
Story image
Artificial Intelligence
SAS unveils AI experience to improve kids' batting abilities
SAS has created The Batting Lab, an interactive experience using AI, computer vision and IoT analytics to help kids improve their baseball and softball swings.
Story image
Artificial Intelligence
SAS announces new products amid cloud portfolio success
Analytics and AI company SAS is deepening its broad industry portfolio with offerings that support life sciences, energy, and martech.
Story image
MEC
MEC spending for private cellular networks to reach $5.8b
A new ABI Research report finds the revenue for Multi Access Edge Compute (MEC) deployments for private cellular networks will reach USD$5.8 billion by 2030.
Story image
Sustainability
RDA and MVGX partner for sustainable data center development
Red Dot Analytics (RDA) and MetaVerse Green Exchange (MVGX) have entered a strategic partnership to make Singapore's data center development and operations more sustainable.
Story image
Cybersecurity
More than 40% of banks worried about cloud security - report
Publicis Sapient's new report finds security and the lack of cloud skills and internal understanding of business benefits are big obstacles for banks moving to the cloud.
Story image
SaaS
Cloudflare launches instant serverless database for dev teams
"Today we’re announcing our first serverless database which we expect will quickly become one of the largest databases in the world."
Story image
Digital Signage
MAXHUB's Digital Signage range to bolster boardroom productivity
The new MAXHUB Digital Signage technology is purpose-built to make every kind of team meeting more effective.
Story image
Digital Transformation
The Huawei APAC conference kicks off with digital transformation
More than 1500 people from across APAC have gathered for the Huawei APAC Digital Innovation Congress to explore the future of digital innovation.
Story image
Infrastructure
Nutanix study reveals financial services sector lagging with multicloud adoption
Nutanix has released new research that reveals the financial services sector is lagging behind when it comes to multicloud adoption.
Story image
Managed service provider
Barracuda MSP Day 2022 highlights MSP opportunities
Barracuda Networks has released a report showing global services-related MSP revenue is set to increase by more than a third in 2022 compared to 2021.
Story image
Artificial Intelligence
SAS launches human-focused responsible innovation initiative
SAS has launched a responsible innovation initiative, furthering its commitment to equity and putting people first.
Story image
Data Protection
Barracuda launches new capabilities for API Protection
"Every business needs this type of critical protection against API vulnerabilities and automated bot attacks," Barracuda says.
Story image
Rackspace
Skills shortages hold orgs back from capitalising on cloud 2.0
Organisations are becoming more comfortable with sophisticated 'cloud 2.0' technologies, even as they confront difficulties in hiring and retaining IT talent.
Story image
Remote Working
IT teams deploy powerful technologies to enable remote work
"We found that IT teams mastered the challenges of remote work last year in large part by employing powerful yet easy-to-use technologies."
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Artificial Intelligence
Clear Dynamics closes $35M funding round, invests in global growth
The funding is a major milestone and speaks to Clear Dynamics’ vision for AI-enabled ‘composable’ enterprise software, the company states.
Story image
Cybersecurity
Cybersecurity prompts upgrade for 1.3 billion electricity meters
ABI Research finds Advanced Metering Infrastructure (AMI) and cybersecurity concerns are prompting the upgrade of 1.3 billion electricity meters by 2027.
Story image
Employment
Tech job moves - Forcepoint, Malwarebytes, SolarWinds & VMware
We round up all job appointments from May 13-20, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Talend
Talend introduces new data health solutions for businesses
Talend has announced its latest version of Talend Data Fabric, with the release of Talend Trust Score enabling data teams to establish a foundation for data health.
Story image
Fintech
Airwallex launches new bank feed integration with NetSuite
Airwallex has launched a new bank feed integration with NetSuite, developed in partnership with NetSuite solution partner, Onlineone.
Story image
Microsoft
Global cybersecurity insurance market worth $11.5b this year
Future Market Insights finds the cybersecurity insurance market is expected to reach USD$11.5 billion in 2022, growing to $61.2 billion in 10 years.
Story image
Tech job moves
Tech job moves - Datacom, Micro Focus, SnapLogic and VMware
We round up all job appointments from May 6-12, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Ransomware
Ransomware hits 65% of organisations in Singapore
Next-generation cybersecurity firm Sophos has released its annual survey and review of real-world ransomware experiences in the State of Ransomware 2022.
Story image
Sisense
Data and analytics could be key to higher selling prices in APAC
Sisense's latest report has found that almost half of data professionals in APAC think customised data and analytics can create better selling prices for their products.
Story image
Cybersecurity
Hard numbers: Why ambiguity in cybersecurity no longer adds up
As cybersecurity costs and risks continue to escalate, CEOs continue to struggle with what their investment in cyber protection buys. Getting rid of ambiguity becomes necessary.
Story image
Phishing
Google reveals new safety and security measures for users
Google's new measures include automatic two step verification, virtual cards and making it easier to remove contact information on Google Search results.
Story image
GapMaps
GapMaps Live to improve brand decisions on physical locations
GapMaps has released its latest service GapMaps Live, giving more insights and features to help brands make better decisions about physical locations.
Story image
Customer experience
Research unveils precarious customer loyalty for retailers
New research has found customers are reassessing established brand loyalties as their priorities and behaviours shift.
Story image
Logistics
Dematic robotic solutions win big at Singapore technology awards
Dematic has won the Robotics-Logistics award at the recently concluded Singapore Business Review Technology Excellence Awards.
Exabeam
Find out how a behavioural analytics-driven approach can transform security operations with the new Exabeam commissioned Forrester study.
Link image
Story image
Sustainability
Aligned Data Centers increases sustainability-linked loan
Aligned Data Centers has increased its sustainability-linked loan from $375 million to $1.75 billion to speed up the next phase of its strategic growth.
Story image
Digital Transformation
Trading up: It's time to swap core systems for flexible digital applications
This year will see more oranisations planning and commencing high tech renovations that will shake up the way they operate.
Story image
Cybersecurity
Accenture - a collective security approach a driving factor for cyber resilience
With the approaching Davos World Economic Forum upon us, it is even more imperative to discuss the impact of cybersecurity on business operations leading into the future.