What Our Fortune 500 Customers Say?

An overwhelming majority of the respondents felt that a unified CX journey is absolutely essential to retain customers and build a ‘WOW’ brand, while the next largest group identified with the positive bottom-line impact of such measures.

Feedback surveys and direct interactions continued to be the most important channels for understanding customer experiences with the brand, with merely an 8 percent of the respondents reposing their faith in old-style field research. The focus clearly is shifting towards an environment where the customer is at the center of all interactions and is never left unattended. The key, going forward, will be in synthesizing the insights from these various channels such that every successive interaction feels like a seamless transition from the one preceding it.

Brands are increasingly focusing on the creation of intuitive products to drive the CX story. Omnichannel consistency and proactive support are a key part of this narrative, with customization (hyper-personalization) and DIY support coming close behind.

Legacy siloed structures and the lack of a streamlined change management process are seen as the biggest roadblocks for a smooth CX transition. Surprisingly, the absence of management or budgetary support ranks rather low here, underscoring the growing need felt amongst the top executives to strengthen their brand’s CX journey.

Fortune 500 Companies feel that better change management paradigms are crucial for streamlining CX implementations. They further identified the need for deeper knowledge, new digital technologies, and a ‘digitally native’ workforce as harbingers for an effective CX framework.

While employee satisfaction, CSAT (Customer Satisfaction) and NPS (Net Promoter Score) emerged as the unanimous choice for the preferred CX metrics to track, quite a few respondents also spoke out in favor of tracking CES (Customer Effort Score) and Customer Loyalty & Retention. While the cost of customer acquisition and customer lifetime value did not receive much support, we feel that given the direct revenue impact of these key metrics, their importance will only continue to grow over the coming years.