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)

CX scores remain stable despite pandemic problems

Brands must focus on emotion to differentiate

The CX Index also revealed that despite the COVID-19 pandemic, several industries saw an improvement in customer experience quality, including credit card issuers, direct banks, investment firms, and multichannel retail industries.

Indeed, compared to 2019, no industry averages declined in the 2020 CX Index, making it the second year in a row - actually also the second year ever - in which this trend had occurred.

Seven brands represented elite brands - the top 5% of brands in the entire CX Index - Chapters/Indigo, Costco Wholesale, Home Hardware, MEC, PetSmart, Toyota, and Well.ca. Of four new elite brands, only Toyota rose to its status due to a real improvement in CX quality.

Results further show that emotion is key to achieving brand differentiation. How an experience makes customers feel has larger influence on their loyalty to a brand than effectiveness or ease in every industry. In the multichannel retail industry, for example, among customers who felt valued, 87% plan to stay with the brand, 84% plan to increase spending with the brand, and 86% will advocate for the brand.

"While the COVID-19 pandemic has done little to disrupt the quality of experience Canadian brands provide customers, our rankings show those brands looking to break away from the pack and deliver better CX must shift their focus to understanding how customers are affected by experiences emotionally," said Sharyn Leaver, SVP of research at Forrester. "This will be a crucial differentiator in how brands can not only achieve and sustain customer loyalty but better distinguish themselves from the competition."

Conducted for the sixth year in a row, Forrester's CX Index results are benchmarked on a survey of more than 58,000 Canadian customers across 147 brands and 12 industries. The index aims to help brands identify the key drivers of a positive CX for their customers to help them prioritize their efforts. Even a minor improvement to a brand's customer experience quality can add tens of millions of dollars of 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.

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)