CAMBRIDGE, Mass.--(BUSINESS WIRE)--Consumers expect better, faster, and more connected experiences, emphasizing the importance of customer experience (CX) for businesses today. Forrester (Nasdaq: FORR) data shows that 71% of businesses are prioritizing CX improvements, and those initiatives are paying off: According to Forrester’s US 2016 Customer Experience Index (CX Index™), CX quality improved overall, and more industry average scores rose than fell since 2015.
Based on a survey of 122,500 US online adult consumers, Forrester’s CX Index measures and ranks more than 300 US brands across 18 industries to identify how leading brands build loyalty through the quality of the customer experiences they provide. Key findings include that digital brands have a strong CX advantage, while CX laggards trigger strong negative emotions and a lack of loyalty from dissatisfied customers.
“Empowered consumers want emotionally satisfying experiences, but a good experience does not always lead to customer loyalty,” Harley Manning, vice president and research director at Forrester, said. “Loyalty emerges when brands make their customers feel valued and appreciated, which has a strong effect on driving revenue. For example, a one-point score improvement in the CX Index can lead to an increase of $65 million in revenue in the upscale hotel industry, driving the point home that CX and loyalty have a measurable impact on a company’s bottom line.”
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 2016 best-in-class list this year, with the following companies in the top 15 (in alphabetical order): Ally Bank, Barnes & Noble, Edward Jones, Etsy, HSN, Huntington National Bank, Navy Federal Credit Union, Newegg, QVC, Regions Bank, Residence Inn, and Zappos.com.
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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 business and technology leaders know how they stack up against their peers, and the ability to model which improvements will have the biggest impact on revenue.
For more information, please visit forr.com/cxindex.
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 and frameworks are grounded in annual surveys of more than 500,000 consumers and business leaders worldwide, rigorous and objective methodologies, and the shared wisdom of our most innovative clients. Through proprietary research, data, consulting, events, and exclusive executive networks and programs, 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.