Coeus Solutions Ltd. released its 2021 Customer Experience (CX) Report covering over 10,000 large and small businesses.
The most interesting aspect of the 2021 CX report is the growth in the number of feedback collected by businesses across the board. This is driven by the fact that eCommerce has grown multi-fold in 2021 as businesses adjust to online service delivery due to pandemic-related changes.
“The results aren’t surprising at all. We have seen feedback rates have increased by over 15% across the board,” said Ahsan Naseem, CEO of Coeus Solutions. “Furthermore, the Net Promoter Scores have also improved across the board,” he added.
Net promoter score® is a widely used metric to track customer loyalty.
“We see differences in industry sectors too. For example in insurance the Net Promoter Scores have dropped slightly while in eCommerce they have improved,” added Mohsin Naeem, Product Owner at Coeus Solutions.
He added, “Another interesting aspect is that customers, regardless of industry, most complain about their inability to get support from the businesses. This comes from lack of support man-power for most businesses,”
Other key elements of the 2021 report include the following:
Tracking customer satisfaction in an objective way has become the most important initiative for companies across the board.
Some of the average NPS globally, as determined by Coeus, are 35 for eCommerce, 22 for Insurances and banks.
Businesses increasingly track customer feedback not only for internal purposes but also for online reputation management via reviews on their own websites as well as Google, Facebook, and other online portals.
In Pakistan, most of the corporations as well as startups have customer experience management programs but are in very early stages. There is little if any formal management of customer experience. The same trend is seen in the Middle East and the Far East as well.
Previously, Coeus Solutions also announced the plan to list on the Pakistan stock exchange in Q1 2022 supported by their consultants KASB Securities. The listing has generated a lot of interest already from domestic and international investors.