Forrester’s CX Index Reveals The Companies That Are Recognized As Best In Their Industries
The quality of customer experience (CX) has improved in India, according to Forrester’s 2017 Customer Experience Index (CX Index). The new data released reveals that for the first time in three years, one brand broke into the excellent CX category, and over half of the surveyed brands improved their scores significantly.
Based on a survey of more than 9,000 Indian online adult consumers, Forrester’s CX Index measures and ranks 36 brands in India across five industries to identify how well a brand’s customer experience strengthens the loyalty of its customers. Key findings of this third annual study include that no brand in India delivered poor CX, and the average score of the five industries rose, indicating better quality CX across the board. In addition, the data shows that emotion has a bigger influence on customer loyalty than effectiveness or ease in nearly every industry.
“Brands that want to break away from their competitors should focus on emotion. The top five brands in India provided an average of 23 emotionally positive experiences for each negative experience; the lowest-performing five brands provided only eight emotionally positive experiences for each negative one. Emotion is critical as CX has a direct impact on a firm’s revenue,” said Amit Bhatia, Forrester senior analyst and author of the report.
CX Industry Leaders Beat out Larger Rivals To Claim Top Spot
Forrester’s CX Index reveals the companies that are recognized as best in their industries, with the following companies named leaders in their respective fields: HDFC Ergo (auto and home insurance providers); IDBI Bank (traditional banks); American Express (credit card providers); Koovs.com (digital-only retailers); and Lifestyle (traditional retailers).
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.
Forrester is one of the most influential research and advisory firms in the world. They 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.