The questionnaire wasn't difficult and there were no trick questions. Forrester simply asked whether customers felt the company delivered value, whether they were easy to do business with and whether they were enjoyable to do business with, all elements that current CXM technologies attempt to gauge.
1. Little Movement
The results show that despite everything, little progress has been made this year. Most of the brands that were rated fell into the category of OK to very poor with 61 percent getting a rating of OK, poor or very poor from their customers.
This is only slightly lower than the previous report where 63 percent fell into that category, even though a higher percentage ended up in the OK category as opposed to the poor category. The number of companies in the very poor category also decreased, even if there really shouldn't be any in this category at all.
2. Top, Bottom Stagnation
The top and bottom scoring industries remained exactly the same as they were last year. For the fourth year in a row, retailers (82%) and hotels (79%) had the highest average scores across all industries.
Internet service providers were among the bottom crawlers along with TV service provides and health insurance providers, most likely due to the attitude from these companies of “if-we-sell-it-they-will-come” regardless of the customer experience provided.
3. Growing Competition
That said, there is evidence of growing competition within some industries and although there was no notable improvements industry-wise this year, within industry categories there was some change. Without going into the details here on airlines and banks, there are some clear winners and losers, while in investment firms the gap between winners and losers has widened.
Wireless companies fluctuated, with the best getting better and the worst getting worse. In the credit card sector, the gap narrowed between the best and the worst.
Customer Experience Future Experiences
Burns concludes that companies need to be thinking of the future and warns those waiting for the upturn that this alone will not solve all problems. With that in mind, she says that in terms of customer experience we can expect:
1. Value brands
Value Brands will keep building. Over the next three years value brands will take more and more market share and will win more and more customers by delivering high-quality customer experience that is not necessarily predicated on value for money.
When the economy eventually does improve, it will be the companies with better CX that will recover faster. She says that an analysis of customer experience leaders over a five-year period shows that those that provided a better customer experience, crushed under heel those that didn't really make an effort. Those that provide better customer experience will also see those customers that stuck with them through the hard times stick with them now.