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In the last couple of years, we have witnessed seismic global events, such as the COVID-19 pandemic, the Ukraine-Russia war, unanticipated weather patterns and the rapid adoption of disruptive technologies. These events have had an unusual impact on Indian consumers and have altered the way they purchase, consume and behave today.
In this report, we examine how Indian companies are adjusting to catch up with ever-changing consumer expectations and identify organisations that are leading in customer experience (CX) through a primary survey of more than 5,000 consumers. Further, we have provided a way forward for companies looking to consistently deliver a superior customer experience.
In today鈥檚 day and age, the customer values a product not only on price but also on how the customer experience is delivered. Customers not only want connected journeys, transparent processes and seamless transitions across channels but also expect experiences to be tailored to meet their circumstances. How well customer experience is delivered can be measured using the six pillars of customer experience: personalisation, integrity, expectations, resolution, time and efforts and empathy.
鈥淚t is imperative for businesses to recognise and appreciate that customer experience is unlikely to remain binary and transactional. In the Indian market, brands have recognized customer experience as a key to sustained value creation. Personalisation has emerged as a key pillar to drive customer loyalty. Focusing on customer needs and experience will be a lighthouse for staying relevant in the current scenario, as consumers will be their biggest advocates/brand ambassadors.鈥�
Manuj Ohri, Partner, 乐鱼（Leyu）体育官网 in India
Financial Services
Retail
Telecom
Travel
Utilities
Key Insights
Personalisation听is the leading driver for loyalty and advocacy in India.
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Brands with high听online channel satisfaction听score3听did better on integrity, personalisation and time and effort.
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>50 per cent of听customers are willing to pay more for a product/service backed by an environmentally or socially ethical brand.
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Financial services听consumers have the highest level of promoters, with 55 per cent willing to promote the brands driven by integrity in their operations.
Implications for the organisations
Organisations need to collect customer data at each touchpoint鈥攕ales, marketing and service鈥攁nd analyse it holistically to drive better decision-making on campaigns, product launches, etc.
Brands should analyse customer journeys to identify opportunities for showcasing their purpose and values, enhancing customer experiences across channels along the way.
Organisations can leverage behavioural motivations to segment their customers, allowing them to tailor messaging, create new product categories and establish pricing strategies accordingly.
Organisations need to identify the pivotal factors influencing their industry and leverage strategic initiatives that set them apart, ultimately driving customer loyalty.
