When you think of brands that create a following of obsessed customers, maybe you think of In-N-Out Burger, Apple or Amazon. It's not a coincidence. Those companies work hard to create a customer experience that is "obsession level." Jeff Bezos said of Amazon, "The number one thing that has made us successful, by far, is obsessive focus on the customer as opposed to obsession over the competitor."
Creating that level of service is a growing challenge, especially for credit unions. According to Forrester's 2024 US Customer Experience (CX) Index, customer service nationwide is at an all-time low, having declined each year since its peak in 2021. The study measures three aspects of CX quality – effectiveness, ease and emotion. Companies that score high in these three areas are described as "customer obsessed." These organizations, which make up only 3% of those surveyed, report 41% faster revenue growth, 49% faster profit growth and 51% better customer retention than those at non-customer-obsessed organizations.
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