CAMBRIDGE, Mass., Aug. 1, 2017 /PRNewswire/ -- The combination
of growing consumer expectations, rising churn rates, and more
options with lower barriers to switch is placing a company's
customer experience (CX) center stage. CX leaders grow revenue
faster than CX laggards, drive higher brand preference, and can
charge more for their products. But according to Forrester's US
2017 Customer Experience Index (CX Index™), CX quality worsened
between 2016 and 2017: Twice as many brand scores fell as rose, and
losses were bigger than gains.
Based on a survey of nearly 120,000 US online adult consumers,
Forrester's CX Index measures and ranks more than 300 US brands
across 21 industries to identify how well a brand's customer
experience strengthens the loyalty of its customers. Key findings
include that not a single industry average improved this year and
that emotion continues to have a bigger influence on customer
loyalty than effectiveness or ease in nearly every industry.
"If brands want to break away from the pack and become CX
leaders, they must focus on emotion," Cliff
Condon, chief research and product officer at Forrester,
said. "Best-in-class brands average 17 emotionally positive
experiences for every negative experience, while the
lowest-performing brands provided only two emotionally positive
experiences for each negative one. Emotion is critical to a brand's
bottom line. For example, the TV service provider industry had the
largest percentage of customers who felt annoyed of any industry in
the study. Among those annoyed customers, only 17% plan to stay
with the brand, 12% plan to increase their spending, and 11% will
advocate for the brand. A large TV service provider leaves
$104 million on the table for every
one-point decline in its CX Index score."
Forrester's CX Index reveals the companies that are recognized
as best-in-class — firms that are in the top 5% of CX quality
across industries in their regions. USAA topped the 2017
best-in-class list this year, with the following companies in the
top 15 (in alphabetical order): BB&T, Cricket Wireless,
Edward Jones, Etsy, The Hartford, Homewood Suites by Hilton, Lexus,
MetroPCS Communications, Navy Federal Credit Union, Omni Hotels
& Resorts, QVC, Regions Bank, The Vanguard Group, and
Zappos.com.
Contact us to learn more about how Forrester's CX Index can help
your business.
About Forrester's CX Index
Forrester's CX Index is the most complete and powerful CX tool in
the market today. The CX Index gives businesses a deep and
actionable understanding of the quality of their customers'
experiences, competitive benchmark data so that business and
technology leaders know how they stack up against their peers, and
the ability to model the improvements that will have the biggest
impact on revenue.
For more information, please
visit http://forr.com/cxindex.
About Forrester
Forrester (Nasdaq: FORR) is one of the most influential research
and advisory firms in the world. We work with business and
technology leaders to develop customer-obsessed strategies that
drive growth. Forrester's unique insights are grounded in annual
surveys of more than 675,000 consumers and business leaders
worldwide, rigorous and objective methodologies, and the shared
wisdom of our most innovative clients. Through proprietary
research, data, custom consulting, exclusive executive peer groups,
and events, the Forrester experience is about a singular and
powerful purpose: to challenge the thinking of our clients to help
them lead change in their organizations.
Contact
Forrester
Jenna Vassallo, 617-613-5746
Public Relations Manager
jvassallo@forrester.com
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SOURCE Forrester Research, Inc.