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The Customer Experience Index 2014
 

The Customer Experience Index 2014

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Forrester Analyst Megan Burns reveals the rankings of the 2014 Customer Experience Index (CXi), which brands moved up (and down) since 2013, and how the results are calculated.

Forrester Analyst Megan Burns reveals the rankings of the 2014 Customer Experience Index (CXi), which brands moved up (and down) since 2013, and how the results are calculated.

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    The Customer Experience Index 2014 The Customer Experience Index 2014 Presentation Transcript

    • Forrester's Customer Experience Forrester's Customer Experience Index, 2014 Index, 2014 Megan Burns, VP, Principal Analyst Megan Burns, VP, Principal Analyst February 4, 2014 February 4, 2014
    • #OutsideIn Agenda › What is Forrester’s Customer Experience Index (CXi)? › What did this year’s results show? › How can the Customer Experience Index help firms move up the path to CX maturity? © 2014 Forrester Research, Inc. Reproduction Prohibited 2
    • #OutsideIn Agenda › What is Forrester’s Customer Experience Index (CXi)? › What did this year’s results show? › How can the Customer Experience Index help firms move up the path to CX maturity? © 2014 Forrester Research, Inc. Reproduction Prohibited 3
    • #OutsideIn Forrester’s Customer Experience Index › An annual benchmark of the quality of the customer experience delivered by large US companies in 14 industries. © 2014 Forrester Research, Inc. Reproduction Prohibited 4
    • #OutsideIn How was the data collected? › › › › Online survey 7,538 US online consumers Ages 18 to 88 October 2013 © 2014 Forrester Research, Inc. Reproduction Prohibited 5
    • #OutsideIn Forrester’s Customer Experience Index “Thinking of your interactions with these firms over the last 90 days:” Enjoyable Easy Meets Needs © 2014 Forrester Research, Inc. Reproduction Prohibited How enjoyable were they to do business with? How easy were they to do business with? How effective were they at meeting your needs? 6
    • #OutsideIn Customers rate Customer Experience Index questions on a five-point scale Didn’t meet any of my needs (1) Met all of my needs (5) Very difficult (1) Very easy (5) Not at all enjoyable (1) Very enjoyable (5) Source: January 4, 2013, “Executive Q&A: Forrester’s Customer Experience Index” Forrester report © 2014 Forrester Research, Inc. Reproduction Prohibited 7
    • #OutsideIn How is the CXi calculated? Example: ACME Corporation (sample ≥ 100) Chose 4 or 5 Chose 1 or 2 Net score Thinking about your recent interactions with these firms, how effective were they at meeting your needs? 82% 4% 78% Thinking about your recent interactions with these firms, how easy was it to work with these firms? 81% 1% 80% Thinking about your recent interactions with these firms, how enjoyable were the interactions? 75% 1% 74% CXi Score: © 2014 Forrester Research, Inc. Reproduction Prohibited 77 8
    • #OutsideIn Agenda › What is Forrester’s Customer Experience Index (CXi)? › What did this year’s results show? › How can the Customer Experience Index help firms move up the path to CX maturity? © 2014 Forrester Research, Inc. Reproduction Prohibited 9
    • #OutsideIn Big gains outnumbered big losses Brands up 10 or more points 20 Brands down 10 or more points © 2014 Forrester Research, Inc. Reproduction Prohibited 4 10
    • #OutsideIn Laggards closed the gap in 2014 42% 37% 36% 31% 2013 2014 17% 11% 10% 8% 8% 1% Very poor (0 to 55) Poor (55 to 64) OK (65 to 74) Good (75 to 84) Excellent (85+) Base: 154 North American brands scored in Forrester’s Customer Experience Index, 2013 175 North American brands scored in Forrester’s Customer Experience Index, 2014 (percentages may not total 100 because of rounding) © 2014 Forrester Research, Inc. Reproduction Prohibited 11
    • #OutsideIn Whole industries stepped up their game Wireless Service Providers TV Service Providers ISPs Health Insurers 75 70 65 60 55 50 45 2008 2010 * 2011 2012 2013 2014 * This chart represents six consecutive years of CXi data. The year 2009 is missing due to a change in the report’s publication date and naming convention but does not represent a gap in data collection. © 2014 Forrester Research, Inc. Reproduction Prohibited 12
    • #OutsideIn Perennial leaders stayed strong . . . Seven consecutive years of “Excellent” scores Multiyear “Excellent” score recipients (6) (5) (5) Example industry high scores © 2014 Forrester Research, Inc. Reproduction Prohibited 13
    • #OutsideIn . . . but face growing competition Airlines (2013) Wireless Providers (2013) • Southwest Airlines (81) • JetBlue Airways (78) • AT&T Wireless (66) • Sprint (66) • Verizon Wireless (66) Airlines (2014) Wireless Providers (2014) • Southwest Airlines (81) • Delta Air Lines (79) • JetBlue Airways (77) • Verizon Wireless (74) • AT&T Wireless (72) • Sprint (66) © 2014 Forrester Research, Inc. Reproduction Prohibited 14
    • #OutsideIn What drove CXi scores up? © 2014 Forrester Research, Inc. Reproduction Prohibited 15
    • #OutsideIn Many big gains came from brands that have formal CX programs and resources Brand CXi Change CX Team or CoE CX Executive Since BCBS of MI +23 VP 2011 UnitedHealthcare +10 CCO 2011 AT&T U-Verse +12 VP 2012 Charter +16 United Airlines +13 VP 2010 Comcast +9 VP 2010 (AT&T Home Solutions) SVP (2011 – 2013) 2011 Note: this is only a sampling the brands that have a formal CX program. Many others do that are not listed here. © 2014 Forrester Research, Inc. Reproduction Prohibited 16
    • #OutsideIn The path to CX maturity Differentiate Reframe customer problems, address unmet needs, rethink the ecosystem. Optimize Use more sophisticated CX methods. Elevate Make good customer experience behavior the norm. Repair Find broken experiences and fix them. © 2014 Forrester Research, Inc. Reproduction Prohibited 17
    • #OutsideIn
    • 15% fewer truck rolls © 2014 Forrester Research, Inc. Reproduction Prohibited 19
    • #OutsideIn Who paid for your healthcare • What you paid • What your plan paid • Humana discounts © 2014 Forrester Research, Inc. Reproduction Prohibited 20
    • #OutsideIn © 2014 Forrester Research, Inc. Reproduction Prohibited 21
    • #OutsideIn BCBSM drove customer understanding with a traveling persona room © 2014 Forrester Research, Inc. Reproduction Prohibited 22
    • • • • • Driver analysis Shared accountability Cross-business coordination CFO-certified financial model © 2014 Forrester Research, Inc. Reproduction Prohibited 23
    • #OutsideIn Delta Air Lines lets passengers rebook canceled flights via its mobile app Receive flight notification Review flight cancellation notice View next available flights Review desired flight details Confirm selection to book it Source: Delta Air Lines © 2014 Forrester Research, Inc. Reproduction Prohibited 24
    • #OutsideIn Amazon Whispersync for Voice Source: Amazon.com © 2014 Forrester Research, Inc. Reproduction Prohibited 25
    • #OutsideIn Amazon’s Mayday Button Source: Amazon.com © 2014 Forrester Research, Inc. Reproduction Prohibited 26
    • #OutsideIn Agenda › What is Forrester’s Customer Experience Index (CXi)? › What did this year’s results show? › How can the Customer Experience Index help firms move up the path to CX maturity? © 2014 Forrester Research, Inc. Reproduction Prohibited 27
    • #OutsideIn Identify and benchmark against leaders › Amazon (Kindle) › USAA (Credit card provider) › Courtyard By Marriott › JCPenney › Old Navy › Sam's Club › Kohl's › Target › Amazon › TJ Maxx › Marriott Hotels & Resorts › USAA (Bank) › Costco › Lowe's › USAA (Insurance provider) › CVS › Macy's › Home Depot Source: January 21, 2014, “The Customer Experience Index, 2014” Forrester report © 2014 Forrester Research, Inc. Reproduction Prohibited 28
    • #OutsideIn Understand the relationship between CX and loyalty for your brand or industry Likelihood to consider for another purchase 0.71 Likelihood to recommend 0.64 Likelihood to switch business to a competitor -0.42 Retail Banks 46% 55% © 2014 Forrester Research, Inc. Reproduction Prohibited 29
    • #OutsideIn Variables available for cutting CXi data › Age, gender, household income, employment status › Marital status, parental status, geographic location › Technology attitudes: tech optimists versus pessimists › Traveler type: business versus leisure › Level of investible assets › Health insurance source: employer versus self-insured › Health status: chronic illness versus no chronic illness › Telecom: bundled versus not bundled © 2014 Forrester Research, Inc. Reproduction Prohibited 30
    • #OutsideIn Use the CX pyramid as an organizing principle for your existing CX metrics Source: Forrester Research, Inc. © 2014 Forrester Research, Inc. Reproduction Prohibited 31
    • #OutsideIn What if my brand isn’t in this study? › UK, France, and Germany CXis (Q2 2014) › Do a custom CXi study for your brand: • Survey population • Detailed diagnostic questions • Business impact variables • Competitor benchmark › › B2B and B2C; technology, pharma, agriculture, etc. Contact Forrester for more information Marketing@Forrester.com © 2014 Forrester Research, Inc. Reproduction Prohibited 32
    • Questions © 2014 Forrester Research, Inc. Reproduction Prohibited 33
    • #OutsideIn What’s next? › Join our Twitter chat now with Research Director Harley Manning on mastering customer experience! • http://bit.ly/1nJBO0y › Find out more by visiting our customer experience hub! • http://solutions.forrester.com/customer-experience › Part 2 of our Customer Experience Webinar Series! • Coming March 2014 › Forrester’s Forum For Customer Experience Professionals East • June 24–25, New York City © 2014 Forrester Research, Inc. Reproduction Prohibited 34
    • Thank you Megan Burns +1 617.613.6294 mburns@forrester.com Blog: http://blogs.forrester.com/megan_burns Twitter: @mbcxp