New omnichannel brand health report
The report, the first in OpinionLab's quarterly research series, taps into OpinionLab's proprietary Customer Feedback Index to provide insight into top trends across industries, including financial services, insurance, hospitality, healthcare, retail and travel.
The Customer Feedback Index claims to be the first and only omnichannel customer experience benchmark measuring brand health and performance across all channels and touchpoints including web, mobile and physical locations.
Key Findings: Q1 – Q2 2013 Customer Experience Index Report
OpinionLab's revolutionary benchmark analyzes millions of pieces of real customer feedback to provide clear metrics and standardized scores on overall experience, channel performance, and functional areas (such as account management, checkout and service/support). Benchmarks include an overall Customer Feedback Index score, calculated on a 0 to 1000 scale, as well as Functional Mean Ratings which score functions on a 1 – 5 scale.
Financial Services Leads the Way: The top-performing industry is Financial Services (CFI score of 746 compared to an average CFI score of 557 across all industries). This indicates that the major commercial banks, credit card providers and online brokers have rebounded from the lows of 2008 and increased brand loyalty by delivering excellent online banking and investing experiences.
Healthcare Lags in Customer Experience: Healthcare brands must make major strides to improve customer experience performance, as their collective CFI score (average CFI score of 287) currently stands roughly 50% lower than the web-wide benchmark average.
Pure-play Etailers Outperform Omnichannel Brands but Stumble at Checkout: Within the retail sector, pure-play Etailers are outperforming their omnichannel counterparts who are tasked with building seamlessly remarkable customer experiences (average CFI score of 481 versus average CFI score of 458, respectively). Etailers are bolstered by their significant edge in information and account performance, although omnichannel retailers do beat out pure-play in functional areas, such as checkout.
Improve Support in Order to Stand Out from the Pack: Across industries, organizations struggle to deliver great support experiences as indicated by low Functional Mean Ratings score for Service & Support pages (2.26 as compared to 3.61 for loyalty services and 3.05 for account management). Despite the advent of real-time online chat, social CRM, and other tactics, brands have room to grow when it comes to addressing customers’ complaints effectively and quickly fixing problematic issues.
More detailed scores and rankings, as well as top performers Guitar Center, NewEgg and CareerBuilder, are included in the free report, available for download here.
"The Customer Feedback Index breaks ranks with surveys and web-only analysis in order to meet the needs of the new omnichannel world," said Rand Nickerson, CEO of OpinionLab. "Now, more than ever, business success depends on delivering the best experience to your customers wherever they engage with your brand. The Customer Feedback Index and our CFI Report series taps into the real experiences of customers across web, mobile and physical locations to give clear and precise insight into where brands rank, where they shine and where they need to improve in order to boost omnichannel performance."