Exotel Study Reveals Significant Uptick in Tech Investments for Festive Season as 70% of CXOs Focus on Growth

Exotel, a leading 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.

Key Survey Insights:

• 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.”

As businesses adopt new tools, the focus is squarely on delivering seamless experiences that cater to the growing demands of festive shoppers. With 48% of CXOs actively exploring new technologies, they are placing emphasis on scalability, integration, and real-time customer engagement.

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%).

As India’s festive season continues to evolve into a major economic event, businesses are increasingly focusing on AI and data security to optimize customer experiences and drive substantial revenue growth. Exotel’s report reflects how enterprises are preparing for the surge, addressing key challenges, and prioritizing the technologies that will define the next phase of customer engagement.

Methodology:

Exotel’s insights were derived from an online survey conducted in June 2024, gathering responses from over 350 CXOs. The survey targeted key decision-makers such as VPs of Marketing and Chief Customer Experience Officers from mid to large organizations across sectors including Tech, BFSI, E-commerce, Telecom, and Automotive.