It is that time of the year again. Like each year, we went out and asked *your* customers what they think about the experiences they had with you, and the results are in.
Forrester’s Customer Experience IndexTM 2018 India Benchmark report is out! (paywall)
This year, we covered the following industries and brands, surveying over 9000 Indian consumers in the process.
|Auto/Home Insurers||Bajaj Allianz, Bharti AXA, HDFC Ergo, ICICI Lombard, Reliance General Insurance, SBI General Insurance Company, Tata AIG|
|Banks||Axis Bank, Bank of Baroda, HDFC Bank, ICICI Bank, IDBI Bank, Kotak Mahindra Bank, State Bank of India|
|Credit Card Issuers||American Express, Axis Bank, HDFC Bank, ICICI Bank, SBI|
|Health Insurers||Apollo Munich Health Insurance, Max Bupa Health Insurance, Religare Health Insurance, Star Health and Allied Insurance|
|Retailers (digital)||Amazon, Flipkart.com, Jabong.com, Koovs.com, Myntra.com, Shopclues.com, Snapdeal.com|
|Retailers (multichannel)||Big Bazaar, Croma, ezone, Lifestyle, Pantaloons, Shoppers Stop|
Here’s a small preview of what we saw
- At an industry level, banks provided the best CX to their customers, beating others such as credit cards, insurance, and so on
- Over half of the customers we surveyed reported receiving a good experience from their brand; however, excellence remained out of reach.
If you are one of these brands (or are a competitor, or partner, or an interested party), and would like to know more about the results, including which brand topped each industry, do sign up for our upcoming webinar, scheduled for Wednesday, 12th Dec, 2:00 pm IST.
See you there!
PS: As always, here are some quick answers to your most frequently asked questions.
- What is the methodology of the survey? Who did you survey, and when?
For the Forrester Analytics Customer Experience Index Online Survey, India Consumers 2018, Forrester conducted an online survey fielded in April and May 2018 of 9,058 Asia Pacific individuals ages 18 and older in 9 cities of metropolitan India (cities of Ahmedabad, Bangalore, Chennai, Hyderabad, Jaipur, Kolkata, Mumbai, New Delhi, and Pune). For each brand, individuals surveyed are their customers, who have recently interacted with the brand.
- How is a brand’s CX Index score calculated?
For each brand, the CX Index score is based on the perceptions of their customers. Participating individuals are queried on three aspects of their experience with the brand – the effectiveness of the experience, its ease, and the emotions related to the experience. Participants are also asked about their intended loyalty based on their specific experience. All these factors go into calculating a brand’s CX Index score (0-100), which is weighted to reflect the CX-loyalty dynamic in each industry.
- Are these results valid or representative of my industry and customer-base?
Short answer: Yes
Long answer: Yes, these survey samples and results are statistically valid for each industry we cover. Even for industries (such as digital-retailers) that may have a significant customer base in non-metro cities, these results hold good because 50% of their business comes from metros, and typically metro customers have been around longer, and have larger ticket-sizes than their non-metro counterparts.
- How long have you been running this survey, and who else uses it?
Forrester runs the CX Index benchmark survey across 7 global markets, covering more than 600 brands in 20 industries. Multiple brands across the world have benefited from these results over the years.
- Why do these results matter? How can I benefit from them?
Measuring the experience your customers have with you is paramount to be able to improve your CX; it is the first step to becoming customer-obsessed. A holistic measure like the CX Index is especially helpful since it not only covers all aspects of CSAT and NPS, but also helps you understand what drives CX in your industry, benchmark against competition, and slice-and-dice the data according to generic and industry-specific variables.
- How can I get access to my own/my competition’s score and data?
To get access to the CX Index India results data set, write to firstname.lastname@example.org