Customer Experience

Forrester's Customer Experience (CX) Index has surveyed 9,000 UK consumers, ranking 36 UK brands on how a brand's CX strengthens the loyalty of its customers, with Nationwide Building Society coming top for the third year running of the banks.

Banking is an important barometer as it leads the way for customer experience: While the banking industry has shared the top spot for customer experience over the past two years, with the digital-only retail industry in 2016 and credit card industry in 2015, banking came out as the clear leader in the 2017 UK study.

Emotion is one of the most important, and surprising, factors influencing CX and satisfaction in the poll. Feeling confident, happy and valued are the three emotions driving loyalty: The top three emotions driving customer loyalty for banks in the UK are feeling happy, confident and valued. For those customers feeling valued, 67 per cent plan to stay with the brand, 84 per cent will advocate for the brand and 76 per cent plan to spend more with the brand.

Not surprisingly, annoyance, disappointment and frustration drive customers away: making customers feel annoyed, disappointed or frustrated, with just 11 per cent of disappointed customers saying they will stay with a brand, and just 6 per cent will spend more with a brand.

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