In the age of the customer - a 20-year business cycle in which the most successful enterprises will reinvent themselves to systematically understand and serve increasingly powerful customers - improving customer experience is a top priority for businesses in China.
However, according to the 2015 Customer Experience Index for China from Forrester Research, none of the companies surveyed rated excellent, and 80% are delivering merely mediocre customer experience.
Based on a survey of 9,000 Chinese consumers, the CX Index measured and ranked 60 brands in China, across 5 industries, on the quality of their customer experience and impact on customer loyalty.
Of the five industries, the financial services sector emerged as leaders, while traditional retail and eCommerce brought up the rear in the brand rankings.
"With only 15% of the brands evaluated in the 2015 China CX Index rated as good, brands in China have multiple opportunities to improve the quality of their customer experience to build and sustain long-term customer loyalty," said Ryan Hart, Forrester Research principal analyst serving customer experience professionals.
According to the survey, customer experience leaders made customers feel valued almost twice as often as CX laggards did.
"Meeting the basic needs of customers is the first step before embarking on loyalty programmes, which could lead to winning customer emotions by making them feel more valued," concluded Hart.