The lack of customer focus on customers reverses the CX momentum gained during the pandemic
According to the Forrester US 2022 Customer Experience Index (CX Index ™) ranking, CX quality fell by 19% of brands in 2022 - the highest proportion of brands that fell in a year since the survey began. In addition, CX quality has fallen back to levels in early 2020, reversing gains in 2021. The decline stems from declining corporate focus on customers, even though customers expect more from digital and hybrid experiences. In 2022, only 3% of US companies are obsessed with customers - putting customers at the center of their management, strategy and operations - down 7 percentage points from the previous year.
Industries such as airlines, carmakers and hotels have suffered losses in their average CX scores, partly due to environmental factors such as rising costs, supply problems and staff shortages. The investment industry is the only industry to see CX improvements in 2022. This year’s elite brands - the top 5% of brands in the entire CX index - had a 15-point lead over others in providing positive emotional experiences for customers. Elite brands include Chewy.com, Navy Federal Credit Union, USAA, Etsy, Morgan Stanley Wealth Management, HEB, Edward Jonesand Trader Joe’s.
Emotion continues to be a key factor in delivering high levels of CX performance. Fifty-four percent of customers who report positive emotions, such as feeling happy, appreciated, and appreciated, are willing to forgive the wrong brands. Also, the quality of the interactions with the brand is essential for building customer trust. In 2022, an average of 59% of customers trust the brands they interact with, 2 percentage points more than the 57% of customers who trusted brands in 2020.
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“The quality of CX in the US, which reached new heights in 2021, has fallen to pre-pandemic levels due to the loss of brands in terms of customers,” he said. Rick Parrish, VP and Research Director at Forrester. “This is unfortunate for companies that survived the worst period of the pandemic, but are now losing earnings from CX-based customer loyalty. For brands to regain momentum CX, leaders will need to reorient their behavior to help their companies become obsessed with customers. ”
Conducted for the seventh year in a row, the Forrester Customer Experience Survey, which collects data to calculate Forrester CX Index scores, is based on more than 96,000 US customers from 221 brands and 13 industries. The Forrester Customer Experience Index property methodology provides the data and information needed to assess CX’s quality, understand how CX influences loyalty intentions, and prioritize revenue-generating improvements. Even a minor improvement in the quality of a brand’s customer experience can add tens of millions of dollars in revenue by reducing the customer rate and increasing the portfolio share. Forrester Customer Experience CX Index rankings and outcome reports are available in the Forrester Decisions research services portfolio. Forrester Decisions for Customer Experience and Forrester Decisions for B2C Marketing Executives customers have access to the CX Index Extended Data Benchmark to help prioritize improvements based on industry trends and impact on customer loyalty.
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