Forrester Q&A: Top Insights From Forrester’s CX Index

This is the fourth post in a 5-part series, Digital Customer Experience

We asked Maxie Schmidt-Subramanian, PhD, Principal Analyst with Forrester Research, about the impact of digital transformation on customer experience (CX). Here is the fourth question in our series.

Question: What are the top insights from Forrester’s Customer Experience Index? 

Answer: Forrester’s CX Index measures how well companies provide experiences that create and sustain customer loyalty. Industry-specific business impact models quantify the upside of improvements in the CX Index score. Industry-specific drivers let customers identify the improvement priorities that will have the biggest impact on  financial success.

Delivering an integrated and frictionless digital experience can help not only drive business growth, but ultimately improve loyalty.

But where do you begin? Hrishi Talwar, VP of Digital Identity and Mobile Products at Equifax explains, “We really have to sit down and look at what the consumer is looking for. Next, we reframe how we interact with the consumer with the consumer’s lens on it. Essentially, that means that we have to redefine some of the processes that we have in place.”

You cannot simply take existing offline processes and applications and replicate them in an online environment. Existing customers expect you to use what you have or know about them already to automate the process and prepopulate the ‘known’ information for them… and only ask for what is missing and required to complete the process. Equifax can help you improve your consumer experience, reduce risk and drive business growth with our InstaTouch® Suite. It provides simplified digital consumer interactions with one-touch authentication, easier payments, and better offers.

• Authenticate: Promote more frictionless consumer experience and with consumer consent can drives faster acquisition by automatically filling forms with your consumer’s information.
• Verify: Simplify the tedious process of having to enter card information on devices and uses verified identity to present most current, reported credit card(s) information as payment options.
• Enhance: Use real-time credit file information to provide businesses with advanced insights about consumer credit capacity, which allows you to make contextual-based offers of credit or insurance to consumers at the point of digital interaction. Consumers receive qualified offers, with out the reduced risk of denial.

Learn more about the impact of digital transformation on CX and how to deliver a more frictionless digital experience. View the expanded version of our Equifax Q&A with Forrester executive summary.