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ActionIQ 2022 CX IQ Index Reveals Large Gaps in Companies’ Self-Reported CX Performance & Actual Consumer Experiences

U.K. Brands Underrate their CX Performance Compared to American Counterparts

ActionIQ, the leading Enterprise Customer Data Platform (CDP), released the inaugural CX IQ Index, an expansive survey measuring the state of customer experience (CX) from the perspective of both businesses and consumers in the U.S. and the U.K. The results reveal a significant gap between CX perception and performance, showing that while 55% of U.K. businesses rate customers as “very satisfied” with CX, only 26% of U.K. consumers feel the same.

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The research also revealed that when it comes to CX, data protection and privacy are most important to U.K. consumers. Forty-six percent of consumers say data protection is “very important” to customer experience — more than any other CX characteristic. Forty-two percent said the same for brands respecting their privacy.
“Despite having an increasing amount of data pointing to the importance of customer experience to brand loyalty and overall business results, the CX IQ Index research results show that businesses across the spectrum still have a long way to go in offering outstanding CX,” said Tamara Gruzbarg, Vice President of Strategic Services, ActionIQ. “The message to organizations is clear: Invest more resources into the CX characteristics that are most important to consumers – protecting customer data and privacy, and responding quickly to their needs – and do it urgently, because if the gap between what customers deem important and what brands deliver continues to grow, your business will suffer.”

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Personalization
The findings also highlighted what matters most to consumers in terms of personalization. Consumers are much more concerned with brands understanding their needs (22% rated it “very important” to CX) than brands knowing who they are (only 7% rated it “very important”).
Adds Gruzbarg, “Knowing who your customers are is essential to providing them with superior CX, and is only becoming more complicated in the face of third-party cookie deprecation. But the value of this is in your ability to transform customer insights into experiences that are tailored to your customers no matter when, where or how they interact with your brand.”

U.K. v U.S. Research Findings
While there are some variations, U.K. consumers generally trended with U.S. consumers in terms of characteristic and vertical ratings.
Across all industries except retail, U.K. brands were less likely than U.S. brands to say their customers are “very satisfied” with customer experiences and interactions to get information, make a purchase or resolve an issue.
U.K. financial services and retail brands were less likely than consumers to rate their performance as “very strong” across the majority of all CX characteristics. But in the U.S., financial services brands were more likely than consumers to rate their performance as “very strong” across all CX characteristics while retail brands trended the same for all but four characteristics.

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