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Forrester Announces 'Customer Experience Reality Day Challenge' ​to Inspire Leaders to Deliver Exceptional CX

The review finds that customer experience (CX) drives three types of customer loyalty, including retention, wallet share and recommendations.

7/14/2020
Portrait of executive George Colony

George F. Colony, founder, chairman of the board and CEO of Forrester Research


CAMBRIDGE, Mass
. -- To inspire and challenge leaders to better understand what their customers experience every day, Forrester (NasdaqFORR), is designating July 15, 2020 as Customer Experience (CX) Reality Day.

Changing consumer behaviors and rising customer expectations are forcing companies to make CX improvements a priority. However, few brands offer a standout experience good enough to create a large and sustainable advantage over competitors -- let alone safeguard against future disruption.

According to Forrester's US Customer Experience Index (CX Index) 2020 , simple acts of kindness that demonstrate empathy and make the customer feel like the brand wants their business are essential. For example, when a company makes customers feel appreciated, 76 percent indicate they'll keep their business with the brand, 80 percent say they will spend more with the brand, and 87 percent will recommend the brand to friends and family members.

The CX Reality Day challenge is designed to help leaders understand their firm's customer experience and identify CX issues to resolve. On July 15, executives will put themselves in their customers' shoes to evaluate whether their company's brand promise lives up to and aligns with the reality of their CX by assessing their own products and services against specific measures, including how frictionless it is to become a new customer or resolve a problem.

CX differentiation is the key to post-pandemic success. The consistent top performers in Forrester's CX Index truly know their customers, allowing them to consistently meet their needs. Data from the CX Index also proves that emotion is the strongest driver of customer retention, enrichment, and advocacy. The best interactions elicit positive customer emotions, avoid provoking negative emotions, and even provide brands forgiveness for their mistakes. The result: higher revenue and increased profitability.

"Customer experience drives three types of customer loyalty, including retention, wallet share, and recommendations," said George F. Colony, Forrester's chairman and chief executive officer. "Delivering a positive experience that exceeds customers' expectations is hard -- but the reward of doing so is critical to the success of today's firms. I encourage all executives who take the challenge to reflect on the frustrations they experience during CX Reality Day and then work with the appropriate departments to evaluate and resolve those issues."

Resources

  • Learn more about CX Reality Day and download  helpful tips for the challenge.
  • Read VP and group director Melissa Parrish's and VP and research Harley Manning's take on CX Reality Day.
  • Download Forrester's guide to help you prioritize CX projects with the greatest business impact.
  •  Share your insights, learnings, and great experiences as a customer by using #CXRealityDay on social media.

About Forrester

Forrester (FORR) is one of the most influential research and advisory firms in the world. We work with business and technology leaders to drive customer-obsessed vision, strategy, and execution that accelerate growth. Forrester's unique insights are grounded in annual surveys of more than 690,000 consumers and business leaders worldwide, rigorous and objective methodologies, and the shared wisdom of our most innovative clients. Through proprietary research, data and analytics, custom consulting, exclusive peer groups, certifications, and events, we are revolutionizing how businesses grow in the age of the customer; learn more at forrester.com.

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