Exotel Study reveals uptick in tech investments for festive season

70% CXOs focused on growth this festive season, the study has found

by e4m Staff
Published: Nov 4, 2024 12:56 PM | 2 min read

Exotel, an AI-driven enterprise communication platform, has released the findings of its comprehensive market survey on technology investments for the upcoming festive season.

The survey, which gathered insights from over 350 CXOs across diverse industries such as tech, BFSI, e-commerce, telecom, and automotive, reveals a clear strategic shift towards enhancing customer engagement through cutting-edge technologies.

With 70% of respondents planning to increase tech investments compared to the previous year, businesses are ramping up their readiness for what promises to be a record-setting festive season. The findings underscore a strong focus on Sales Revenue (53%) and Social Media Engagement (47%) as the top metrics for campaign success, indicating a drive towards both financial growth and customer satisfaction.

The study found that 43% of CXOs are already implementing GenAI technologies, while another 45% plan to adopt them within the next 12 months, highlighting AI’s growing role in driving predictive analytics and personalized customer experiences.

40% of CXOs are strengthening payment gateway security to address the expected surge in transactions, emphasizing the priority of data protection and fraud prevention.

35% of respondents cited system integration and scalability as major challenges, prompting significant investments in cloud solutions and load-balancing tools to manage peak demand.

Udit Agarwal, VP & Global Head of Marketing at Exotel, commented on the findings: "This festive season presents a pivotal moment for businesses to leverage advanced communication technologies to deepen customer engagement and fuel growth. Our survey highlights the prioritization of secure, scalable, and integrated solutions among CXOs to meet the growing demand. At Exotel, we are committed to providing businesses with the tools they need to succeed, especially during this critical economic period."

The study also showcases that tracking customer engagement and satisfaction (41%) is the most popular method for measuring ROI from AI investments, followed by direct sales and conversion metrics (35%).