CAMBRIDGE, Mass., Oct. 18, 2017 /PRNewswire/ -- CX quality of
US investment firms has stalled since last year, according to
Forrester's US 2017 Customer Experience Index (CX Index™). The data
released today revealed that a few individual brands showed
respectable gains while a similar number slipped, leading to
stagnant growth this year.
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. Of the 315 US
brands ranked in 2017, 23 direct or discount brokerage and
full-service investment firm brands were analyzed to determine how
customers perceive their experiences and how CX drives loyalty. Key
findings include that:
- The brands that ranked highest in the investment firm
categories held their number one ranking for the third year in a
row, with USAA leading all direct brokerage firms and Edward Jones being named the top-ranked
full-service firm.
- Customer service is the most vital driver category for both
direct brokerage and full-service investment firms, while brands'
improving drivers related to prices and fees will reap the fewest
benefits since many customers select their investment firm based on
cost. Therefore, great customer service and other
experience-focused activities have a stronger impact on loyalty
because customers take lower prices and fees for granted.
- Negative emotions such as annoyance, disappointment and
frustration will drive customers away and affect revenue: only 15%
of direct brokerage customers who feel these emotions plan to stay
with the brand, and that number drops to 11% for full-service
investment firm customers – one of the lowest percentages of any
industry.
"To drive revenue, it is critical for brands to understand which
positive emotions drive customer loyalty," Forrester Chief Research
and Product Officer Cliff Condon
said. "For example, appreciation, respect and value are top
emotions that impact loyalty when it comes to full-service firms.
Our data shows that of those who feel valued, 84% plan to increase
their spending – showing a direct correlation between customer
loyalty driving business growth."
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