Improving the customer experience (CX) is a top priority for 71% of businesses in India, yet not a single Indian company evaluated in Forrester’s Customer Experience Index earned an “excellent” customer experience ranking. In fact, 60% of firms deliver merely mediocre customer experience, according to the new research by Principal Analyst Ryan Hart, and 3% fall in the extreme category of “very poor.”
Only 9% of companies landed in the “good” category, and another 28% received “poor” scores for their CX. The report, launched today at Forrester’s CMO+CIO Summit in Mumbai, is based on a survey of more than 17,000 metro Indian consumers. It ranks the quality of customer experience and the impact on customer loyalty of 102 brands in 10 industries, by assessing three dimensions of CX quality: effectiveness, ease, and emotion.
Credit card providers are the leading industry in this year’s CX Index, followed by mobile device manufacturers and banks. The financial services industry as a whole sets the CX bar to which other industries can aspire: Seven of the top nine brands on the list are private banks, four of which are also top-ranking credit card providers.
This mirrors the trend Forrester sees in other global markets such as Australia, Canada, China, Germany, the UK, and the US, where financial institutions are leveraging mobile to enhance cross-channel experiences for their customers.
Learn more about this research here: The India Customer Experience Index, 2015.