Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business. You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy.

Get it on Amazon (Kindle/Print)

Customer Experience reaches new heights in India

But brands still need to differentiate themselves more

Based on a survey of more than 10,000 customers in India in 2019, Forrester's CX Index methodology was used to benchmark the CX quality of brands in six industries. This year, four brands were excellent, which no brand managed to do so previously. Furthermore, 33 brands delivered good CX, up from 19, and only two brands continued to provide mediocre CX.

The industry average for banks went up over points to retain pole position, while the multichannel retail industry rose more than points to go from last to second. Despite increases in their average scores, auto and home insurers fell from third to fifth, and credit card issuers - last year's second - was at the bottom of the rankings. The digital retailer and automotive manufacturer industries were third and fourth respectively.

Despite improved scores, most brands were unable to differentiate themselves and the quality of their CX remained on par with their competitors'. Only HDFC Bank managed to emerge as a true CX leader.

"We see that Indian firms are transforming their culture to become customer-centric and adopting design practices to improve customer experiences," said Amit Bhatia, Forrester senior analyst. "However, only brands that can differentiate themselves will reap the benefits of better CX. Brands that want to break away from the pack should focus on emotion: How an experience makes customers feel has a bigger influence on their loyalty to a brand than effectiveness or ease in nearly every industry."

Forrester's CX Index helps brands identify the key drivers of a positive CX for their customers to prioritize efforts. Even a minor improvement to a brand's CX quality can add crores of rupees of incremental revenue by reducing customer churn and increasing share of wallet. Additionally, superior CX leads to reduced service costs and lowers the cost of customer acquisition through word of mouth. CX leaders grow revenue faster, drive higher brand preference, and charge more for their products.

Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business.

You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy. Grab this goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, technologies, research, suppliers and partners, plus all the supporting arguments you need to build a solid CX strategy.

While most marketers could list maybe a dozen key points for improving their brand's Customer Experience (CX), the researchers and writers at The Marketing Factbook have identified FORTY main 'CX Keys' which will help you drive your customers to new levels of delight, loyalty, advocacy and profitability.

The areas in which customers have direct contact with your organization are perhaps the most obvious places in which CX improvements can be made, and this report addresses all 24 of these 'Direct CX Keys', applicable to offline and online businesses alike.

At the same time there are many other areas that indirectly affect CX (such as the supply chain, policies and processes) in which every business can make simple but far-reaching improvements. This report guides you through the problems and solutions for all 16 of these 'Indirect CX Keys', many of which are often forgotten or under-played even in the best CX strategies.

Get it on Amazon (Kindle/Print)