Brands in Singapore disappoint customers on all three dimensions of customer experience
SINGAPORE, Aug. 29, 2019 /PRNewswire/ -- Forrester today released its Singapore 2019 Customer Experience Index (CX Index™) rankings, which show that CX quality remains weak in the country. Released at Forrester's CX Singapore Forum, the findings show that the overall quality of customer experience in Singapore has remained flat at 55 points out of 100 since 2018 and the brands remain undifferentiated in their CX.
The multichannel banking industry continued to have the highest average score of 58.9. The average scores in the auto/home insurance industry and government rose to 55.8 and 52.2 respectively, while the average in the airline industry fell to 55.1. For the second year in a row, the Singapore government remained at the bottom of the rankings. Singapore Airlines achieved the highest score this year, overtaking DBS Bank and OCBC Bank.
Forrester's CX Index reveals that brands in Singapore disappoint customers on the three dimensions of CX: Emotion, Ease, and Effectiveness. On average, only 39% of customers found their experiences emotionally positive, 41% of customers found brands easy to interact with, and 38% of customers said that they were able to accomplish their goals when interacting with brands.
"Our study has once again shown that Singaporeans maintain very high expectations and that it's hard to earn a 'wow' from them," said Tom Mouhsian, principal analyst at Forrester and author of the report. "Brands that want to move the needle on their CX quality should focus on emotion: How an experience makes customers feel has a bigger influence on their loyalty to a brand than effectiveness or ease in every industry."
Conducted in Singapore for the second year in a row, Forrester's CX Index results are benchmarked on a survey of 4,027 Singaporean adult customers across 16 brands in 3 industries and the government sector.
Forrester's CX Index helps brands identify the key drivers of a positive CX for their customers to prioritize efforts. Even a minor improvement to a brand's customer experience quality can add millions of dollars of incremental revenue by reducing customer churn and increasing share of wallet. Additionally, superior CX leads to reduced service costs and lowers the cost of customer acquisition through word of mouth. CX leaders grow revenue faster, drive higher brand preference, and charge more for their products.
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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 that business and technology leaders know how they stack up against their peers, and the ability to model the improvements that will have the biggest impact on revenue.
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