USAA and Capital One 360 Top 2014 Temkin Web Experience Ratings

We just published the 2014 Temkin Web Experience Ratings, the fourth year of the ratings. It uses feedback from 10,000 U.S. consumers to rate 222 organizations across 19 industries.

Download dataset for $295

USAA’s banking business took the top spot and Capital One 360 (formerly ING Direct) earned the second highest rating in the 2014 Temkin Web Experience Ratings, which rates 222 companies across 19 industries. USAA’s insurance and credit card businesses tied for third place.Rounding out the top 13 companies in the ratings are Charles Schwab, Amazon.com, credit unions, TD Bank, U.S. Bank, Sheraton, Ace Hardware, eBay, and Nordstrom.

The award for delivering the worst web experience goes to Coventry Health Care, followed closely by Medicaid. Four of the bottom 14 organizations are health plans and three are TV service providers. The remaining companies in the bottom 14 of the Temkin Web Experience Ratings are Charter Communications, Comcast (TV service and Internet service), Dunkin’ Donuts, Time Warner Cable (TV service and Internet service), Jack in the Box, CareFirst, MetroPCS, Highmark, Adobe, and Wendy’s.

1406_TWER_BestWorst

Here’s how the industries compare with each other:

1406_TWER_Industries

The 2014 Temkin Web Experience Ratings shows that companies have made improvements in web experience between 2013 and 2014. Led by airlines, which increased by nearly 15 percentage points since last year, 17 of 19 industries improved. The two industries that earned lower ratings in 2014 are parcel delivery services and rental cars.

Nearly two-thirds of the 195 organizations that were in both the 2013 and 2014 Temkin Web Experience Ratings improved this year. On average, firms earned an increase of 3.2 percentage points. Eleven companies improved by more than 15 percentage points: Southwest Airlines, Health Net, United Airlines, PetSmart, AOL, Sony, Bright House Networks, Morgan Stanley Smith Barney, Edward Jones, Cablevision, and AAA.

Six companies saw their Temkin Web Experience Ratings fall by 10 points or more between 2013 and 2014: Dunkin’ Donuts, Avis, Hertz, Jack in the Box, Dollar, and Blackboard.

1406_TWER_IncreaseDecrease

Methodology:

The data was collected from an online survey of 10,000 U.S. consumers during January 2014. Quotas were set to mirror the U.S. census data for age, income, gender, ethnicity, and geographic regions of the U.S. population.

Temkin Web Experience Ratings are based on asking consumers the following question about companies with whom they’ve had a customer service interaction during the previous 60 days: “Thinking back to your most recent interaction with the websites of these companies, how satisfied were you with the experience?” Potential responses range from 1= “very dissatisfied” to 7= “very satisfied.” Temkin Web Experience Ratings are calculated by taking the percentages of consumers who respond with a 6 or 7 and subtracting the percentage who respond with 1, 2, or 3.

Download dataset for $295

Temkin Ratings website
You can view a sortable list of results from the Temkin Web Experience Ratings as well as other ratings on the Temkin Ratings website.

 

Charles Schwab and Fidelity Investments Lead Investment Industry in 2014 Temkin Experience Ratings

We recently released the 2014 Temkin Experience Ratings that ranks the customer experience of 268 companies across 19 industries based on a survey of 10,000 U.S. consumers.

Charles Schwab and Fidelity Investments earned a 75% rating—only narrowly surpassing TD Ameritrade—and tied for 49th place overall out of 268 companies across 19 industries. These two firms are no strangers to the top of the rankings; Charles Schwab has been the highest-rated investment firm for three years in a row now, and Fidelity Investments maintained a second-place ranking from 2011 to 2013 before taking the top spot this year. At the other end of the spectrum, Scottrade and Wells Fargo Advisors tied for the lowest-rated investment firm, both landing in 208th place overall with a rating of 58% each. While this is Scottrade’s first stint on the bottom, Wells Fargo Advisors was also ranked as the lowest firm in 2011 and 2012.

Download entire dataset for $395

InvestmentsA
Here are some additional findings from the investment industry: Read more of this post

Report: What Happens After a Good or Bad Experience, 2014

1402_WhatHappensAfterGoodBadExperiences_COVERWe just published a Temkin Group report, What Happens After a Good or Bad Experience, 2014. The report, which includes 19 data charts, examines which companies and industries provide the most bad experiences, what impact those experiences have on spending, and how the negative impacts of bad experiences can be mitigated by good service recovery. The report also examines how consumers share their good and bad experiences with companies as well as with other people. Here’s the executive summary:

To understand the effect of good and bad experiences, we asked 10,000 U.S. consumers about their recent interactions with 268 companies across 19 industries. Results show that Internet services and TV services are the industries most likely to deliver a bad experience to their customers, while grocery chains are the least likely to. At the company level, Scottrade had the smallest percentage of customers reporting a recent bad experience with the company and Time Warner Cable had the highest. More than half of the customers who encountered a bad experience at a fast food chain, credit card issuer, grocery store, or hotel either decreased their spending with the company or stopped altogether. However, our data shows that a good service recovery effort can help mitigate a bad experience. Unfortunately, many firms—especially in the banking, Internet services, and TV services sectors—aren’t very good at service recovery. In addition to the consequences of bad interactions, we also examined which channels customers use to share their good and bad experiences and how these changed across age groups. We then compared these results to survey responses from the past two years. We also uncovered a negative bias inherent in how customers provide feedback. ING Direct, Residence Inn, and Fairfield Inn have the most negative bias in the feedback they receive directly from customers, while Hy-Vee and Hyundai have the most negative bias on Facebook. 

Click link to see full list of industries and companies covered in this report (.pdf).

Download report for $195
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One of the most interesting analyses in the report is the look at how service recovery after a bad experience affects the spending pattern of consumers. Here’s a summary of one of the charts showing just how important it is for a company to recover well after making a mistake:

1402_EconomicsOfServiceRecovery

Here are some other insights from the research:

  • Sixteen percent of consumers who have interacted with TV service and Internet service providers report having a bad experience over the previous six months. Next on the list are wireless carriers, with 12% of their customers reporting a bad experience. At the other end of the spectrum, only 3% of consumers report a bad experience with grocery chains and 4% report having a bad experience with fast food chains.
  • The five companies with the most customers reporting bad experiences are Time Warner Cable (25%), Motel 6 (22%), Coventry Health Care (21%), and Comcast (21%). There were 10 companies with only 1% or less of their customers reporting bad experiences: Scottrade, Chick-fil-A, H.E.B., Whole Foods, ShopRite, ING Direct, Starbucks, Trader Joe’s, Vanguard, and True Value.
  • More than one-quarter of consumers who have a bad experience stop spending with computer makers, car rental agencies, credit card issuers, hotel chains, and software companies. The impact of bad experiences is less costly for parcel delivery services, wireless carriers, health plans, TV service providers, Internet service providers, and grocery chains, as less than 15% of their customers with bad experience stopped spending.
  • The industries that are the best at responding to a bad experience are investment firms, major appliances, retailers, and car rental agencies. The industries that are the worst at responding to a bad experience are TV service providers, wireless carriers, Internet service providers, parcel delivery services, and health plans.
  • Thirty-two percent of consumers give feedback directly to companies after a very bad experience and 23% give feedback after a very good experience.
  • Overall, 25- to 34-year-olds are the most likely to share feedback about their experiences. After a good experience 57% tell a friend directly, 28% share on Facebook, and 18% put a comment or rating on a review site. After a bad experience, 60% tell a friend directly, 31% share on Facebook, and 20% write a review.

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The bottom line: Make sure to recover quickly after a bad experience

50 CX Tips: eBook and Infographic

1310_50CXTips_COVERI recently completed a series of 50 customer experience (CX) tips. To make it easier for people to read and download all of the tips, I assembled them into a free eBook: 50 CX Tips: Simple Ideas, Powerful Results.

Each of the 50 CX Tips is aligned with one or more of Temkin Group’s four customer experience core competencies: Purposeful Leadership, Compelling Brand Values, Employee Engagement, and Customer Connectedness.

The CX Tips include examples from a wide variety of companies including Adobe, Amazon.com, Apple, BCBS of Michigan, Becker and Poliakoff, Big Lots, BMO Financial Group, Bombardier Aerospace, CDW, Charles Schwab, Citrix, Disney, EMC, Fidelity Investments, Hampton Inn, Hilton, IBM, Intersil, Intuit, JetBlue, Microsoft, Oklahoma City Thunder, Oracle, Safelite AutoGlass, Salesforce.com, SanDIsk, SimplexGrinnell, Southwest Airlines, Sovereign Assurance of NZ, Sprint, Starbucks, Stream Global Services, Sam’s Club, USAA, VMware, and ZocDoc.
DownloadButton200wWhile you may have a hard time applying all 50 CX TIps, you should be able to identify several that will work for your organization. I challenge you to select three or more of the CX Tips to implement. Here’s an idea: Have each of your team members pick the five CX Tips that they think would be the most powerful for your organization. Use a team meeting to discuss everyone’s selections and pick the ones you want to implement.

We also created an infographic with the 50 CX tips. Here’s a version with the top 10 CX tips (click on the graphic to get a .pdf of the full infographic).

Top10CXTips_TemkinGroupThe bottom line: A handful of CX Tips can propel your customer experience.

Congratulations to Customer Service Industry Leaders

Today is the first day of Customer Service Week, so it’s a great opportunity to once again congratulate the industry leaders in the 2013 Temkin Customer Service Ratings (60% or more is a strong score):

  • Airlines: Alaska Airlines (67%)
  • Appliance maker: WhirlpoolSamsung (51%)
  • Auto dealer: Toyota (62%)
  • Bank: USAA (75%)
  • Computer maker: Apple (57%)
  • Credit card issuer: USAA (63%)
  • Fast food chain: Chick-fil-A (70%)
  • Grocery chain: Hy-VeeTrader Joe’s (69%)
  • Health plan: Kaiser PermanenteTriCare (59%)
  • Hotel chain: Marriott (65%)
  • Insurance carrier: USAA (76%)
  • Internet service: AOL (47%)
  • Investment firm: Charles Schwab (71%)
  • Parcel delivery: FedEx (58%)
  • Rental car agency: Advantage (68%)
  • Retailer: Ace Hardware (71%)
  • Software firm: Blackboard (56%)
  • TV service: Bright House Networks (46%)
  • Wireless carrier: Virgin Mobile (46%)

I also want to congratulate the organizations that are improving. These firms earned 2013 Temkin Customer Service Ratings that are 15 percentage points or more higher than their 2012 ratings: Citibank, U.S. Bank, Hyundai, Nissan. Citigroup, and Old Navy.

It’s also a good time to reiterate the distinction between customer service and customer experience. I like what Amazon.com’s CEO Jeff Bezos had to say on this topic:

Internally, customer service is a component of customer experience. Customer experience includes having the lowest price, having the fastest delivery, having it reliable enough so that you don’t need to contact [anyone]. Then you save customer service for those truly unusual situations. You know, I got my book and it’s missing pages 47 through 58

The bottom line: Happy Customer Service Week!

USAA On Top of 2013 Temkin Customer Service Ratings

We just released the third annual Temkin Customer Service Ratings of 235 companies across 19 industries based on a study of 10,000 U.S. consumers (see full list of firms).

Download entire dataset for $295

Company Results

Here are some company highlights:

2103TCSR_TopBottomFirms2103TCSR_IndustryLeadersLaggards

  • USAA earned the top two spots for its insurance and banking businesses. Other companies at the top of the ratings are credit unionsAce HardwareCharles SchwabDollar TreeChick-fil-ASonic Drive-InHy-VeeCostcoTrader Joe’s, Advantage, Publix, and H.E.B.
  • TV service providers and Internet service providers earned nine out of bottom 10 spots in the ratings.
  • For the second straight year, Charter Communications took the bottom spot. The rest of the firms in the bottom five are Time Warner CableCox CommunicationsOptimum (i/o), and CareFirst.
  • The following companies earned ratings that were 15 or more points above their industry averages: USAA (insurance and banking), Alaska Airlines, credit unions, Advantage, Kaiser Permanente, TriCare, Charles Schwab, and Bright House Networks.
  • Five companies earned ratings that were 15 or more points below their industry averages: Apple Stores, US AirwaysRadioShack, HSBC, and 21st Century.
  • Twenty-three percent of companies earned “strong” or “very strong” ratings, while 37% earned “weak” or “very weak” ratings.

Temkin Group also examined year-over-year results for the 171 companies that were in both the 2012 and 2013 Temkin Customer Service Ratings and found that:

  • Forty-four percent of companies improved their ratings while 47% experienced a decline.
  • Twenty companies showed double-digit increases, led by: Citibank (banking and credit cards), U.S. Bank, Hyundai, Nissan, Old Navy, Charles Schwab, Continental Airlines, and Piggly-Wiggly.
  • Eleven companies showed double-digit decreases, led by: LG, Giant Eagle, Toshiba, Cox Communications, ING Direct, and Budget.

Industry Results

Here are some industry highlights:

2103TCSR_Industries

  • Grocery chains, retailers, and fast food chains earned the highest average Temkin Customer Service Ratings, while TV service providers, Internet service providers, wireless carriers, and health plans earned the lowest ratings.
  • On average, credit card issuers, banks and fast food restaurants improved the most while appliance makers, TV service providers and investment firms declined the most.

Calculating the Temkin Customer Service Ratings

During January 2013, Temkin Group asked 10,000 U.S. consumers to identify the companies that they had interacted with on their websites during the previous 60 days. These consumers were asked the following question:

Thinking back to your most recent customer service interaction with these companies,
how satisfied were you with the experience?

Responses from 1= “very dissatisfied” to 7= “very satisfied”

For all companies with 100 or more consumer responses, we calculated the “net satisfaction” score. The Temkin Customer Service  Ratings are calculated by taking the percentage of consumers that selected either “6” or “7” and subtracting the percentage of consumers that selected either “1,” “2,” or “3.”

Download entire dataset for $295

Temkin Ratings website

To see all of the companies in the Temkin Customer Service Ratings as ell as all of our other Temkin Ratings and sort through the results, visit the Temkin Ratings website

The bottom line: TV service providers deliver terrible customer service

Amazon and USAA On Top of 2013 Temkin Web Experience Ratings

We just released the third annual Temkin Web Experience Ratings of 211 companies across 19 industries based on a study of 10,000 U.S. consumers (see full list of firms).

Download entire dataset for $295

Company Results

Here are some company highlights:

2013TWERCompanyBestWorst

  • For the third straight year, Amazon.com topped the Temkin Web Experience Ratings while USAA took the next two spots for its bank and insurance businesses.
  • Other companies at the top of the ratings are RegionsU.S. BankeBayAdvantage Rent A Carcredit unions, and QVC.
  • At the other end of the spectrum, MSNHealth NetEarthLink, and Cablevision earned the lowest ratings.
  • Only 6% of companies earned “strong” or “very strong” ratings, while 63% earned “weak” or “very weak” ratings.
  • Amazon.com and USAA’s insurance business earned ratings that were 20 points above their industry averages and eight other companies were at least 10 points above their peers: Kaiser Permanente, Advantage Rent A Car, eBay, QVC, USAA (bank), Sonic Drive-In, Charles Schwab, and Fidelity Investments.
  • Health Net and RadioShack earned ratings that were 20 points or more less than their industry averages and six other companies were at least 15 points below their peers: 21st Century, American Family, Days Inn, Taco Bell, and Kmart.

Temkin Group examined year-over-year results for the 154 companies that were in the 2012 and 2013 ratings and found that:

  • Forty-one percent of companies improved, while 53% declined.
  • Over half of the companies that were in the 2012 and 2013 ratings earned lower scores this year.
  • Eight companies showed double-digit increases: Humana, Old Navy, U.S. Bank, Citibank, TriCare, Blue Shield of California, Toyota, and Safeway.
  • Twenty-one companies declined by at least 10 points and six companies dropped by more than 15 points: Southwest Airlines, MSN, United Airlines, ShopRite, Cablevision, and Bright House Networks.

Industry Results

Here are some industry highlights:

2013TWERIndustries

  • Banks earned the highest average Temkin Web Experience Ratings, followed by investment firms, retailers, credit card issuers, and hotel chains.
  • Five industries earned average ratings of “very weak” ratings: Internet service providers, TV service providers, airlines, health plans, and wireless carriers.
  • Seven industries improved between 2012 and 2013., while nine declined. Airlines suffered the most dramatic drop, losing 15 points.

Calculating the Temkin Web Experience Ratings

During January 2013, Temkin Group asked 10,000 U.S. consumers to identify the companies that they had interacted with on their websites during the previous 60 days. These consumers were asked the following question:

Thinking back to your most recent interaction with the websites of these companies,
how satisfied were you with the experience?

Responses from 1= “very dissatisfied” to 7= “very satisfied”

For all companies with 100 or more consumer responses, we calculated the “net satisfaction” score. The Temkin Web Experience Ratings are calculated by taking the percentage of consumers that selected either “6” or “7” and subtracting the percentage of consumers that selected either “1,” “2,” or “3.”

Download entire dataset for $295

Temkin Ratings website

To see all of the companies in the Temkin Trust Ratings as ell as all of our other Temkin Ratings and sort through the results, visit the Temkin Ratings website

The bottom line: Web experiences are heading in the wrong direction.

USAA On Top (Again) in 2013 Temkin Trust Ratings

We just released the third annual Temkin Trust Ratings of 246 companies across 19 industries (see full list).

Download entire dataset for $295

Company Results

For the third straight year, USAA‘s insurance business earned the top ranking in the Temkin Trust Ratings. Here are additional highlights:

1306_13TrustTopBottom

  • Two of USAA’s business areas —insurance and banking—topped the list of companies. USAA’s credit card business also ranked sixth.
  • The other companies in the top 10 of the ratings are credit unions, Publix, H.E.B., Amazon.com, Trader Joe’s, Charles Schwab, and Sam’s Club.
  • HSBC earned two of the bottom three spots for its credit card and banking businesses.
  • TV service providers and Internet service providers dominate the bottom of the ratings, collectively taking 10 of the bottom 15 spots. The other companies in the bottom 15 are US Airways, CareFirst, and T-Mobile.

We also examined year-over-year results for 204 companies that were also in the 2012 Temkin Trust Ratings. Here are some highlights of that analysis:

  • Citigroup in credit cards and Hyundai earned the largest jump (21 points) over their 2012 Temkin Trust Ratings. The other largest gainers are Alaska Airlines, Bank of America in credit cards and banking, Continental Airlines, Avis, and EarthLink.
  • Cox Communications in TV service and Fifth Third in banking lost the most ground (17 points) since last year. The other largest decliners are HSBC in banking, PNC in banking, JCPenneyBright House Networks, and eMachines in computers.

Industry Results

Here are the highlights of the 19 industries in the 2013 Temkin Trust Ratings:

1306_13TrustIndustries

  • Grocery chains earn the most trust while TV service providers earn the least trust from their customers.
  • Six companies earned Temkin Trust Ratings that are 20 percentage points or more above their industry average: USAA (banking, credit cards, insurance carriers), credit unions (banking), TriCare (health plans), and Kaiser Permanente (health plans).
  • Four companies earned Temkin Trust Ratings that are 20 percentage points or more below their industry average: HSBC (banking and credit cards), US Airways (airlines), 21st Century (insurance carriers).
  • Led by credit card issuers and rental car agencies, 14 of the 18 industries in the 2012 and 2013 Temkin Trust Ratings improved over last year’s scores. The only four industries with declining ratings are TV service providers, retailers, appliance makers, and insurance carriers.

Calculating the Temkin Trust Ratings

During January 2013, Temkin Group asked consumers to identify companies that they have interacted with during the previous 60 days.  For a random subset of those companies, consumers are asked to rate companies as follows:

To what degree do you TRUST that these companies will take care of your needs?
Responses from 1= “do not trust at all” to 7= “completely trust”

For all companies with 100 or more consumer responses, we calculated the “net trust” score. The Temkin Trust Ratings are calculated by taking the percentage of consumers that selected either “6” or “7” and subtracting the percentage of consumers that selected either “1,” “2,” or “3.”

Download entire dataset for $295

Temkin Ratings website

To see all of the companies in the Temkin Trust Ratings as ell as all of our other Temkin Ratings and sort through the results, visit the Temkin Ratings website

The bottom line: Without a customer’s trust, it’s hard to expect her loyalty.

Advantage Rent A Car and USAA Lead in 2013 Temkin Forgiveness Ratings

All companies, even customer experience leaders, make mistakes. But how much goodwill have companies built up for consumers to forgive them after those miscues? To answer this question, Temkin Group surveyed 10,000 U.S. consumers about companies with whom they’ve recently interacted. We used this data for the third annual Temkin Forgiveness Ratings of 246 companies across 19 industries.

Download entire dataset for $295

Company Results

Here are the highlights of the 246 companies in the 2013 Temkin Forgiveness Ratings:

  • Advantage earns top spot. With an excellent score of 61%, Advantage earned the highest rating.
  • USAA dominates forgiveness. USAA grabbed the next three spots for its banking, insurance, and credit card businesses.
  • The rest of the top 10. H.E.B., Blackboard, Aldi, Alaska Airlines, credit unions and Publix round out the top 10
  • No industry owns the top. The top 25 companies in the ratings comes form a variety of industries: Four grocery chains, three airlines, three retailers, two banks, two hotel chains, two investment firms, two software firms, one appliance maker, one auto dealer, one credit card issuer, one fast food chain, one health plan, one insurance carrier, and one rental car agency.
  • HSBC dominates the bottom. HSBC earned the bottom two spots in the ratings for its credit card and banking businesses.
  • Many TV service providers are at the bottom. Six of the bottom 12 companies are TV service providers: Cox Communications, Time Warner Cable, Comcast, Verizon, Charter Communications, and Optimum (iO)/Cablevision.
  • USAA most outperforms its peers. We compared company ratings with their industry averages and USAA came in the top three spots, 36 points above in banking, 31 points ahead in credit cards, and 28 points ahead in insurance. Three other companies are more than 20 points above their industry averages: Advantage (car rentals), credit unions (banking), and TriCare (health plans).
  • HSBC most underperforms. HSBC fell the farthest below its industry average in two areas, 23 points behind its peers in banking and credit cards. Five other companies had scores that were 15 points and more below their industry: US Airways (airlines), Motel 6 (hotels), McAfee (software), Kia (auto dealers), and Hertz (rental cars).

We also examined year-over-year results for 204 companies that were in both the 2012 and 2013 Temkin Forgiveness Ratings. Here are some highlights of that analysis:

  • Chrysler improves the most. With a jump of 29 percentage points, Chrysler is the most improved company.  Six other companies gained 20 points or more: Continental Airlines, Citigroup, Avis, EarthLink, Ameriprise Financial, and Alaska Airlines.
  • US Cellular declines the most. With a drop of nearly 20 percentage points, US Cellular dropped the most in 2013.  Nine other companies fell by more than 10 points: Bright House Networks, HSBC, Cox Communications, Hertz, PNC, SunTrust Bank, Dollar Rental Car, Hyatt, and TD Ameritrade.

Industry Results

Here are the highlights of the 19 industries in the 2013 Temkin Forgiveness Ratings:

1305_TFR_TopBottomFirms

  • TV service providers are unforgivable. TV service providers, as an industry, earned the lowest Temkin Forgiveness Rating of 12%. It was five points below Internet service providers and seven points below wireless carriers.
  • Grocery chains are the most forgivable.  With an average rating of 39%, grocery chains are the highest scoring industry. Three industries are just four points behind: hotel chains, auto dealers, and rental car agencies.
  • Credit cards make the most improvements. Credit cards made the largest improvement, nine percentage points, over the previous year.  Auto dealers, rental car agencies, and airlines also improved by more than five points.
  • TV service providers head in the wrong direction. Led by TV service providers that dropped three points between 2012 and 2013, three industries earned lower scores in 2012. The other industries are retailers and appliance makers.

Calculating the Temkin Forgiveness Ratings

During January 2013, Temkin Group asked consumers to identify companies that they have interacted with during the previous 60 days.  For a random subset of those companies, consumers are asked to rate companies as follows:

How likely are you to forgive these companies if they deliver a bad experience?
Responses from 1= “extremely unlikely” to 7= “extremely likely”

For all companies with 100 or more consumer responses, we calculated the “net forgiveness” score. The Temkin Forgiveness Ratings are calculated by taking the percentage of consumers that selected either “6” or “7” and subtracting the percentage of consumers that selected either “1,” “2,” or “3.”

Download entire dataset for $295

Temkin Ratings website

To see all of the companies in the Temkin Forgiveness Ratings as ell as all of our other Temkin Ratings and sort through the results, visit the Temkin Ratings website

The bottom line: Forgiveness is an asset that you accumulate by consistently meeting customer needs.

Charles Schwab and Fidelity Investments Lead Investment Industry in 2013 Temkin Experience Ratings

We recently released the 2013 Temkin Experience Ratings that ranks the customer experience of 246 companies across 19 industries based on a survey of 10,000 U.S. consumers. Here are highlights from the investment industry:

  • The investment industry is tied for sixth place out of 19 industries. On average the industry has improved slightly: the average rating for 2013 was 65%. In 2012 and 2013, it was 63%. Eight of the twelve investment firms that were in the ratings last year and this year showed some improvement.
  • For the second year in a row, Charles Schwab and Fidelity Investments earned the top two spots in the industry.
  • Fidelity Investments earned the highest functional rating and Charles Schwab earned the highest accessible and emotional scores.
  • The investment firms in the ratings cover a 20 percentage point range, with the top firm, Charles Schwab, receiving a rating of 74%, and the lowest-ranked firm, Morgan Stanley Smith Barney, receiving a rating of 54%. It also earned the lowest rating across all three underlying components: functional, accessible, and emotional.
  • TD Ameritrade, at 69%, made up a lot of ground this year with an increase of 12 points between the 2012 and 2103 ratings. Wells Fargo Advisors had the next largest increase, six points.
  • Morgan Stanley Smith Barney had the largest decline, three points.
  • Here’s a link to industry results from the 2012 ratings.
Download entire dataset for $395
Investments1 Investments2
Temkin Ratings website

Report: 2013 Temkin Experience Ratings

Temkin Ratings website

2013TemkinExperienceRatings_Cover

We published the 2013 Temkin Experience Ratings. The report analyzes feedback from 10,000 U.S. consumers to rate 246 organizations across 19 industries. Congratulations to the top firms in this year’s ratings: Publix, Trader Joe’s, Aldi, Chick-fil-A, Amazon.com, and Sam’s Club.

Download report for FREE

You can also download the data for $395.

The Temkin Experience Ratings are based on evaluating three elements of experience:

  1. Functional: How well do experiences meet customers’ needs?
  2. Accessible: How easy is it for customers to do what they want to do?
  3. Emotional: How do customers feel about the experiences?

Here are the top and bottom companies in the ratings:

2013TER_BestWorstHere’s how the industries compare with each other:

(NOTE: We have published posts on the detailed results for all 19 industries)

2013TER_IndustriesHere are the companies that are leaders and laggards across the 19 industries:

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In this year’s ratings, 37% of companies earned “good” or “excellent” scores, while 28% are rated as “poor” or ”very poor.” Companies with at least a “good” rating grew by nine-percentage points since 2012 and by 21-points since 2011. Of the 203 companies that are included in both the 2012 and 2013 Temkin Experience Ratings, 57% firms had at least a modest increase. The companies that made the largest improvement over 2012 are Citibank, TriCare, TD Ameritrade, Office Depot, EarthLink, Hardees, and Regions Bank.

Download report for FREE

Get the Data

Do you want to see all of the data? You can purchase an excel spreadsheet for $395…

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To view all of our ratings (experience, loyalty, trust, forgiveness, customer service, and web experience), visit the Temkin Ratings website

Temkin Ratings website

The bottom line: Customer experience is improving, but there’s still a long way to go

Report: Net Promoter Score Benchmark Study, 2012

We just published a Temkin Group report, Net Promoter Score Benchmark Study, 2012. It provides NPS data on 175 U.S. companies across 19 industries. Here’s the executive summary:

USAA took the top two spots for its banking and insurance businesses while HSBC came in at the bottom for banking and credit cards. Our analysis of differences across consumer demographic segments showed that NPS tends to go up with age, doesn’t vary much by income levels, and is often highest with Asians. We also asked consumers what would make them more likely to recommend the companies and found that promoters are more likely to select lower prices and detractors are more likely to select better customer service. While there is some debate about the efficacy of NPS, our analysis shows that promoters are much more likely than detractors to purchase more in the future across all industries. To help you implement a successful NPS program, we’ve included eight tips such as don’t believe in an “ultimate question” and use control charts, not pinpointed goals. The industries included in this report are airlines, auto dealers, banks, computer makers, credit card issuers, fast food chains, grocery chains, health plans, hotel chains, insurance carriers, Internet service providers, investment firms, major appliance makers, parcel delivery services, rental car agencies, retailers, software firms, TV service providers, and wireless carriers.

Download report for $295
(includes the data)

The industries included in this report are airlines, auto dealers, banks, computer makers, credit card issuers, fast food chains, grocery chains, health plans, hotel chains, insurance carriers, Internet service providers, investment firms, major appliance makers, parcel delivery services, rental car agencies, retailers, software firms, TV service providers, and wireless carriers.

The report contains the following components:

  • NPS for 175 companies across 19 industries
  • NPS differences based on age, income, and ethnicity of consumers
  • Improvement areas selected by promoters and detractors by industry
  • Connection between NPS and future purchases by industry
  • Eight tips for implementing a successful NPS program

Figure1Figure4

Download report for $295
(Includes the data)

The bottom line:  Companies need to give customers a reason to recommend them

2012 Temkin Web Experience Ratings

Temkin Group has just released the 2012
We introduced the Temkin Web Experience Ratings last year. The 2012 Web Experience Ratings include 159 companies from 18 industries and is based on a survey of 10,000 U.S. consumers.

Congratulations to the top firms in this year’s ratings: Amazon, credit unions, USAA, PNC, Southwest Airlines, eBay, Sam’s Club, ShopRite, JCPenney, and ING Direct. Of course, not every company has earned good web experience, especially the companies at the bottom of the 2012 ratings:  Charter Communications, Humana, Qwest, Cigna, Time Warner Cable, Anthem, Road Runner, Medicare, Blue Shield of CA, and TracFone.

We also  examined industry averages and found that banks and investment firms have earned the highest Temkin Web Experience Ratings followed by hotel chains and retailers. But consumers gave very low ratings to Internet service providers, health plans, and TV service providers.

The research also examines how individual companies are rated relative to their industry peers. The following 11 firms outscored their industry average Temkin Web Experience Ratings by 10 percentage points or more: Kaiser Permanente, Amazon, ShopRite, Southwest Airlines, USAA, Starbucks, H.E.B., Publix, credit unions, Marriott, and Apple.

The following 15 companies fell 10 percentage points or more below their industry averages: Wells Fargo Advisors, AAA, Charter Communications, Delta Airlines, Citibank, Bank of America, Humana, TracFone, Qwest, Old Navy, U.S. Airways, Rite Aid, Kohl’s, Kmart, and Charter Communications.

Temkin Group also analyzed changes from the 2011 Temkin Web Experience Ratings. Led by TV service providers and insurance carriers 11 of the 12 industries that were in both the 2011 and 2012 ratings improved since last year.

Seventy-two percent of companies that were in the 2011 and 2012 Temkin Web Experience Ratings showed improvement. Led by Comcast (Internet and TV service), Allstate, AOL, Charter Communications, Toshiba, and Sam’s Club, 20 companies improved by 10 percentage points or more between 2011 and 2012. Only three companies­— Kohl’s, TracFone, and Rite Aid—declined by 10 percentage points or more during that timeframe.

Do you want to see the data? Go to the Temkin Ratings website where you can sort through all of the results for free. You can even purchase the underlying data if you want to get more access.

The bottom line: Web experience is not good enough for how important it is

Temkin Experience Ratings Spotlight: Charles Schwab

Charles Schwab earned the highest score for investment firms in the 2012 Temkin Experience Ratings.

To understand how the company made it to the top of the ratings, we spoke with Troy Stevenson, Vice President, Client Loyalty & Consumer Insight.

According to Stevenson “Our strategy is to operate our business through the clients’ eyes. Make every decision through the lens of how it influences clients and the client experience. That helps us avoid the temptation of short-term profits from things like junk fees that might result in long-term harm to the brand.

A key element of Schwab’s CX efforts is its Net Promoter Score program that it calls “Client Promoter Score” or CPS.  Stevenson told me that “It’s not about a specific question, but a system where we are constantly seeking feedback and setting aggressive metrics. And use the insight to find patterns, gaps, and opportunities for improvement” (see post: 9 Recommendations For NPS).

Schwab definitely takes CPS seriously. In a recent letter from CEO Walt Bettinger to shareholders, Bettinger included a discussion of CPS. Here’s an excerpt:

CPS is a simple measure of how well we’re doing at earning that level of loyalty and advocacy from our clients. When CPS is strong, we know our clients are recommending Schwab to their friends, family, and acquaintances — and that is the most direct measure of whether our client-focused strategy is working successfully.

Stevenson stressed the value of listening to client verbatims, saying that “There’s no subsitute for employees reading through unadulterated client comments. They explain what needs to change and how they need to change.”

While Stevenson’s team of 22 people (8 are focused on the CPS program) does analysis of cross-organization topics (like affluent consumers), a critical goal is to put the information in the hands of the people that understand different parts of the business (see post: Market Research Needs An Overhaul). Stevenson’s team organizes verbatims by themes and topics and then puts them in the hands of the appropriate people across the company. He estimates that thousands of people read the verbatims including every branch and call center team.

According to Stevenson, Schwab  leadership consistently communicates about client experience and makes decisions that are aligned through clients’ eyes. That creates a culture where employees are empowered to treat clients well. The company also uses a “healthy dose of client experience improvement within its compensation.” The four or five major businesses within Schwab each have their own CPS score that is used for employee goals.

According to Stevenson, Schwab’s client experience efforts are: “Not just about making the website snazzier, but we want to make Schwab easier to do business with, find ways for clients to be more effective investors, and get phone agents and branch employees to act with more empathy and caring.”

That’s a great goal for just about anyone’s CX efforts.

The bottom line: Looking through your clients’ eyes can be enlightening

2012 Temkin Trust Ratings

Temkin Group has just released the 2012

We introduced the Temkin Trust Ratings last year to gauge which companies are earning this important element of loyalty. The 2012 Temkin Trust Ratings include 206 companies from 18 industries and is based on a survey of 10,000 U.S. consumers.

Congratulations to the top firms in this year’s ratings: USAA, credit unions, H.E.B., Publix, Chick-fil-A, Sam’s Club, Hy-Vee and BMW. Of course, not every company has earned such a high degree of trust with their customers, especially the companies at the bottom of the 2012 ratings: Charter Communications, Citigroup, Bank of America, HSBC, Time Warner Cable, Comcast, and Qwest.

We also examined industry averages and found that grocery chains have earned the most trust from consumers followed by investment firms, retailers, and parcel delivery services. But consumers do not trust TV service providers, Internet service providers, or credit card issuers.

We examined how individual companies are rated relative to their industry peers. Twenty-one companies are 10 or more percentage points above their industry averages. The ones that are farthest out in front: USAA (34 above credit cards), credit unions (30 above banks), USAA (28 above banks), USAA (22 above insurers), and PNC (21 above banks).

Twenty-nine companies are at least 10 percentage points behind their industry averages. Here are the ones that fall the farthest behind: Bank of America (23 behind banks), Citibank (22 behind banks), Super 8 (19 behind hotels), Charter Communications (18 behind TV service providers),  Days Inn (18 behind hotels), and Citigroup (18 behind credit card issuers).

We also analyzed changes from the 2011 Temkin Trust Ratings. The research shows that consumers are more trusting this year than they were last year. Led by computer makers and insurance carriers, all 12 industries that were in both the 2011 and 2012 Temkin Trust Ratings showed improvement.

Fifty-two of the 139 companies that were in the 2011 and 2012 Temkin Trust Ratings earned double-digit improvements and six companies improved by more than 20 percentage points: USAA, PNC, Lenovo, credit unions, U.S. Bank, and HSBC. Seventeen companies lost ground over the last year with the biggest drops coming for Cox Communications, Bank of America, Citigroup, Edward Jones, TriCare, and Costco.

Do you want to see the data? Go to the Temkin Ratings website where you can sort through all of the results for free. You can even purchase the underlying data if you want to get more access.

The bottom line: It’s hard to succeed without your customers’ trust

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