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.

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Here’s how the industries compare with each other:

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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.

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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.

 

Regions and Credit Unions Lead Banking 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.

Regions and credit unions earned an 81% rating—only narrowly overtaking USAA and TD Bank—and tied for 8th place overall out of 268 companies across 19 industries. Credit unions scored the highest rating in both 2012 and 2013, while Regions earned the top spot in 2011. At the other end of the spectrum, HSBC received the lowest rating for any of the 16 banks for the second year in a row, landing in 226th place overall with a 56% rating. Fifth Third also tumbled down the rankings from its “good” rating in 2013 to have the second lowest score in the banking industry.

Download entire dataset for $395

BanksA
Here are some additional findings from the banking industry: Read more of this post

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:

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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.

Download report for $195
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The bottom line: Make sure to recover quickly after a bad experience

Credit Unions and USAA Lead Banks 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 banking industry:

  • The banking industry has been steadily improving over the last three years, from an average Temkin Experience Rating of 62.0% in 2011 to 68.6% this year. Banks also made the largest improvement of any industry between 2012 and 2013, gaining 3.4 percentage points.
  • Credit unions take first place in the industry for the second straight year with a rating of 79%. USAA earned the second spot with a rating of 78% followed by ING Direct and TD Bank that tied for third place with ratings of 74%.
  • The lowest-ranked bank is HSBC, earning a score of 57%. It also earned the lowest functional, accessible, and emotional ratings. The two next lowest banks are Capital One (62%) and Bank of America (63%).
  • Credit unions lead in the functional and accessible components while USAA leads in the emotional component.
  • Citibank improved by 15 percentage points between 2012 and 2013. This gain represents the largest improvement by any company across all industries.
  • Regions also had a significant improvement of 10 percentage points over the last year.
  • PNC had the worst decline from 2012 to 2013, experiencing a loss of six percentage points. HSBC was the only other bank with a ratings drop since last year.
  • Here’s a link to industry results from the 2012 ratings.
Download entire dataset for $395
Banks1 Banks2
Temkin Ratings website

Customer Experience Isn’t Enough in Banking

I read an interesting article in the New York Times: Bank Analyst Sees No Payoff in a Customer-Friendly Focus. It discusses how bank industry analyst Richard X. Bove believes that focussing on customers may be harmful for banks because it distracts them from making money. Here’s a bit of what he said:

Spending time solving problems with people is not selling products. It’s wasting time.

My take: First of all, I think that Bove is partially right. If you don’t have good products or if you don’t have solid sales processes, then you probably won’t have good business results; customer experience is not good enough on its own. As I’ve said for many years, customer experience is not a standalone activity, it needs to support your brand and business strategy.

Having said that, our research shows that companies with better customer experience have a better opportunity to improve their business results. That relationship holds up in our research across many industries.

I decided to take a look at one dimension of the Temkin Experience Ratings (easiness of doing business) and one dimension from the Temkin Loyalty Ratings (willingness to consider for another purchase) in banking. Here’s how those CX and loyalty items line up for 16 banks.

As you can see, there’s a high correlation between CX and potential loyalty. Just because 74% of USAA’s members are likely to consider the financial institution for another purchase, they aren’t going to do it unless USAA offers them an appropriate and competitive product.

The bottom line: CX is valuable, but not enough on its own

2012 Temkin Customer Service Ratings

Temkin Group has just released the 2012…The 2012 Customer Service Ratings covers 174 companies from 18 industries and is based on a survey of 10,000 U.S. consumers in January 2012.

Congratulations to the 2012 customer service leaders:

1) Publix
1) Hy-Vee
1) Credit unions
4) Chick-fil-A
5) H.E.B
5) Sam’s Club
7) Winn-Dixie
8) ShopRite
8) Aldi
8) Starbucks
8) Giant Eagle
8) JCPenney

At the other end of the spectrum, consumers gave the lowest ratings to Charter Communications, Time Warner Cable, Comcast, Citibank, Qwest, Road RunnerCigna, and Bank of America.

The ratings covers the following industries: Airlines, appliance makers, auto dealers, banks, car rental agencies, computer makers, credit card issuers, fast food chains, grocery chains, health plans, hotel chains, insurance carriers, Internet service providers, investment firms, parcel delivery services, retailers, TV service providers, and wireless carriers.

Temkin Group examined industry averages and found that grocery chains were the only industry to earn a “strong” rating. Retailers, fast food chains, appliance makers, and investment firms round out the top five. But consumers gave very low ratings to TV service providers and Internet service providers.

The research also examines how individual companies are rated relative to their industry peers. Led by credit unions (banks), Kaiser Permanente (health plans), Bright House Networks (TV service), and American Express (credit cards), 15 companies outperformed their industry average Temkin Customer Service Ratings by 10 percentage points or more.

Sixteen firms fell below their industry average by 10 or more percentage points, with Charter Communications (TV service & Internet service), Citibank (banks), Hyundai (auto dealers), Bank of America (banks), and Super 8 (hotels) falling the farthest behind.

Temkin Group also analyzed changes from the 2011 Temkin Customer Service Ratings. Led by computer makers and health plans, 10 of the 12 industries that were in both the 2011 and 2012 ratings improved since last year.

Seventy-five percent of companies that were in the 2011 and 2012 Temkin Customer Service Ratings showed improvement. Fifteen organizations improved by at least 10 percentage points, with these five firms leading the way with improvements of at least 20 percentage points: PNC, Gateway, Toshiba, Farmers, and HSBC. Only two companies had double-digit declines: Edward Jones and Old Navy.

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

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

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

2012 Temkin Forgiveness Ratings

Temkin Group has just released the 2012
Every company makes mistakes now and then, but how willing are customers to forgive the company when it happens? Forgiveness is a valuable asset that companies earn by consistently meeting customers’ needs.

We introduced the Temkin Forgiveness Ratings last year to gauge which companies are earning this important element of loyalty. The 2012 Temkin Forgiveness 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, Hyatt, credit unions, H.E.B., Hy-Vee, Dollar Rent A Car, Chick-fil-A, PublixCostco, and Amazon.com. Of course, not every company enjoys such a high degree of forgiveness from their customers, especially the companies at the bottom of the 2012 ratings: Citigroup, Charter Communications, HSBCChrysler dealers, EarthLink, Bank of America, Comcast, Quest, and US Airways.

We also examined industry averages and found that grocery chains have earned the most forgiveness from consumers followed by retailers, appliance makers, and parcel delivery services. But consumers are not very likely to forgive mistakes by credit card issuers, Internet service providers, and TV service providers.

We examined how individual companies are rated relative to their industry peers. USAA holds the top two spots, outpacing its credit card and banking peers by more than 30 percentage points. USAA also outpaces the insurance industry by more than 20 percentage points. Credit unions, Hyatt, US Cellular, Dollar Rent A Car, Chick-fil-A, and Bright House Networks are also more than 15 percentage points above their industry averages. Five companies fall 15 or more percentage points below their industry’s average Temkin Forgiveness Ratings: Chrysler dealers, Citigroup, Travelers, Charter Communications, and RadioShack.

We also analyzed changes from the 2011 Temkin Forgiveness Ratings. The research shows that consumers are more forgiving this year than they were last year. Led by banks and insurance carriers, all 12 industries that were in both the 2011 and 2012 Temkin Forgiveness Ratings showed improvement.
Sixty-eight of the 139 companies that were in the 2011 and 2012 Temkin Forgiveness Ratings earned double-digit improvements and four companies improved by more than 25 percentage points: TD Ameritrade, Lenovo, USAA, and credit unions. Ten companies lost ground over the last year with the biggest drops coming for Citigroup, Continental Airlines, Travelers, Sears, Holiday Inn Express, and The Hartford.

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: To err is possible, to earn forgiveness is divine

USAA and Credit Unions Are Highly Recommended

The 2012 Temkin Loyalty Ratings quantifies the loyalty of consumers to 206 companies across 18 industries based on a survey of 10,000 U.S. consumers. I examined one of the three elements of loyalty in the ratings: the likelihood to recommend.

When comparing company ratings to industry averages, it turns out that USAA earns the top two spots. In credit cards and banking, USAA’s Temkin Loyalty Ratings are at least 25 percentage points above their industry averages. Credit unions are next in line, 24 points above the banking average.

At the bottom of the list is Charter Communications, 23 points below the TV service industry average. RadioShack and Citibank also fall far behind their industries.

The bottom line: Will your customers recommend your firm?

Report: 2012 Temkin Loyalty Ratings

Access the data from all Temkin Ratings research at the Temkin Ratings website.

We just published a new Temkin Group report, 2012 Temkin Loyalty Ratings. The report analyzes feedback from 10,000 U.S. consumers to rate their loyalty to 206 organizations across 18 industries. Congratulations to the top firms in this year’s ratings: Sam’s ClubAldi, USAA, Publix, credit unions, and Amazon.com.

We added six industries (fast food chains, grocery chains, major appliances, car rental agencies, auto dealers, and parcel delivery services) and 63 companies compared with the 2011 Temkin Loyalty Ratings.

Here is the executive summary from the report:

Sam’s Club, Aldi, and USAA earned the top spots in the 2012 Temkin Loyalty Ratings while Citigroup (banking and credit cards) and Charter Communications (TV service and Internet service) each show up twice in the bottom four. We asked 10,000 U.S. consumers to rate their loyalty to companies across three dimensions: likely to recommend, reluctant to switch, and willing to repurchase. Their responses allowed us to rate the loyalty of customers to 206 companies across 18 industries. One-quarter of companies have “strong” or “very strong” ratings while 50% have “weak” or “very weak” ratings. At an industry level, grocery chains and retailers have the most loyal customers while internet service providers and TV service providers have the least loyal customers. USAA has the most loyal customers across three industries, banking, insurance, and credit cards. When comparing the results from the 2011 and 2012 Temkin Loyalty Ratings, we find that PNC and USAA improved the most and Kohl’s and Hyatt declined the most.

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The Temkin Loyalty Ratings are based on evaluating three components of loyalty:

  1. Recommending: How likely are consumers to recommend the company to friends and colleagues?
  2. Switching: How reluctant are consumers to switch business away from the company?
  3. Repurchasing: How willing are customers to purchase additional products and services from the company?

Here are the ratings for all 206 companies:

Here’s how the industries compare with each other:

Here are some other highlights from the research:

  • USAA (in their banking and credit card divisions) as well as credit unions (banking) outpaced their industry peers by more than 25 percentage points.
  • DHL and RadioShack are the furthest behind their peers, falling more than 20 percentage points below their industry averages.
  • Across the 12 industries we examined in both years, nine earned higher loyalty scores in 2012 and three showed a decline. Computer makers are at the top of the list of gainers while retailers had the largest decline.
  • Of the 139 companies that are included in both the 2011 and 2012 Temkin Loyalty Ratings, 84 firms made at least a small improvement in their scores. Led by PNC and USAA, 19 companies earned double-digit improvements over the last year.
  • Kohl’s and Hyatt are the only companies that declined by more than 10 percentage points over the previous year.

Download report for $195

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: Consumer loyalty remains up for grabs across most industries.

Schwab and Fidelity Top Customer Experience Ratings for Investments

This post examines the 12 investment firms included in the 2012 Temkin Experience Ratings.

Charles Schwab is the top rated investment firm and the only firm in the industry to receive a “good” rating. Fidelity Investments was close behind and leads six investment firms with “okay” ratings. The bottom five investment firms have “poor” customer experience ratings: Wells Fargo Advisors, TD Ameritrade, Morgan Stanley Smith Barney, Merrill Lynch, and E*TRADE.

The average ratings for the investment industry placed it 10th out of 18 industries in the study. Temkin Group also analyzed the changes between 2011 and 2012 and found that the investment industry has seen the sharpest decline in its customer experience ratings over the previous year.

Morgan Stanley Smith Barney and TD Ameritrade had the largest decline from last year’s Temkin Experience Ratings and five other investment firms also received lower ratings this year. Charles Schwab had the largest improvement in its customer experience score between 2011 and 2012.

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: The investment industry is heading in the wrong CX direction

Credit Unions and PNC Deliver Best Customer Experience in Banking

This post examines the 16 banks included in the 2012 Temkin Experience Ratings.

Credit unions, which are ranked third across all industries, as a group were the only bank to receive an excellent rating. Four banks earned “good” ratings: PNC, TD Bank, USAA, and ING Direct. Eight banks received “okay” ratings while three banks received “poor” ratings: Citibank, Bank of America, and HSBC.

The banking industry received the fifth highest average customer experience rating, falling behind grocery chains, fast food restaurants, retailers, and parcel delivery services. Compared with 2011, banks increased their ratings by three percentage points, an improvement that was only outdone by insurance carriers and personal computer makers. Thirteen of the 16 banks improved their customer experience ratings between 2011 and 2012.

Credit unions and PNC experienced double-digit increases in their ratings between 2011 and 2012 while ING Direct, TD Bank, and Fifth Third improved by more than five percentage points. Only Regions experienced a double-digit decline in its ratings between 2011 and 2012 and Citibank is the only other bank that declined by more than five percentage points.

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: Some big banks are heading in the wrong direction

Report: 2012 Temkin Experience Ratings

Access the data from all Temkin Ratings research at the Temkin Ratings website.

We just published a new report, 2012 Temkin Experience Ratings. The report analyzes feedback from 10,000 U.S. consumers to rate 206 organizations across 18 industries. Congratulations to the top firms in this year’s ratings: Sam’s ClubPublix, Starbucks, Subway, Chick-fil-A, Aldi, Winn-Dixie, H.E.B, and credit unions.

We added six industries (fast food chains, grocery chains, major appliances, car rental agencies, auto dealers, and parcel delivery services) and 63 companies compared with the 2011 Temkin Experience Ratings.

Here is the executive summary from the report:

Sam’s Club and Publix earned the top two spots in the 2012 Temkin Experience Rankings, with three fast food chains rounding out the top five. We asked 10,000 U.S. consumers to rate their recent interactions with companies across three dimensions of their experience: functional, accessible, and emotional. Their responses allowed us to rate 206 companies across 18 industries. Only 28% of those companies received at least a “good” rating. Grocery chains earned the highest average scores and health plans dominated the bottom of the ratings. Kaiser Permanente and credit unions most outperformed their industries while DHL and RadioShack fell the farthest behind their peers. None of the companies earned an “excellent” rating for the emotional component, while Charter Communications and Earthlink lead 10 companies falling below the “very poor” threshold in that area. Compared with last year’s ratings, most industries improved, led by a 5.3 point average increase by insurance carriers. When it comes to changes over the past year by individual firms, PNC and Lenovo improved the most while Regions Bank had the sharpest decline.

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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 ratings for all 206 companies:

Here’s how the industries compare with each other:

Here are the companies that are leaders across the 18 industries:

Download report for FREE

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: Customer experience is improving, but there’s a long way to go

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