March 10, 2014
2014 Temkin Experience Ratings evaluates the customer experience of 268 companies across 19 industries. Download free report.
Connecting Brands, Leaders, Employees, and Customers
April 23, 2014 Leave a comment
We just published a Temkin Group report, The State of CX Management, 2014. It examines the CX efforts within more than 200 large companies. Here’s the executive summary:
We surveyed more than 200 large companies and found an abundance of Customer Experience (CX) ambition and activity. Most companies have a CX executive leading the charge, a central team coordinating significant CX activities, and a staff of six to 10 full-time CX professionals. Using Temkin Group’s CX competency assessment, we found that only 10% of companies have reached the highest two levels of customer experience, although this does represent a slight increase from last year. Most firms struggle most to master Employee Engagement and Compelling Brand Values. When compared with CX laggards, CX leaders have stronger financial results, enjoy better CX leadership, and implement more successful employee engagement efforts. Executives in companies with stronger CX competencies also tend to focus more on delighting customers and less on cutting costs.
The percentage of large organizations that have reached the two highest levels of customer experience maturity has grown from 6% in 2013 to 10% this year. During the same period, the percentage of companies in the lowest level of maturity has dropped from 40% to 31%.
Here are some additional findings from the research:
The bottom line: Most companies are in early stages of CX maturity, but are getting better
April 17, 2014 1 Comment
I recently read an interesting article in Fast Company called Happy Workers Are More Productive: Science Proves It which discusses a UK study of 713 people. The findings make sense and match what we’ve seen, so I decided to do an analysis with our datasets.
Happiness is an element of our Temkin Well-Being Index, so we have a lot of data on it. I dug into our Q3 2013 Temkin Group Consumer Benchmark Study to examine the connection between happiness and productivity for more than 5,000 U.S. consumers. To identify “happy people” we selected the full-time employees who said that they are “always” or “almost” always happy. Our analysis compares those people to other full-time employees who report that they are less frequently happy. As you can see in the chart below:
April 15, 2014 Leave a comment
We just published a Temkin Group data snapshot, Channel Preferences and Cross-Channel Activity Benchmark, 2014. The research examines consumer preferences for using different channels for completing common tasks as well as the frequency of several cross-channel interactions.
Here’s the executive summary:
In January 2014, we surveyed 10,000 U.S. consumers about their channel preferences for performing 11 different activities—such as opening an investment account or applying for a new credit card—and the frequency with which they perform common cross-channel activities. This data snapshot breaks down the results by age, examining how channel preferences and cross-channel activity levels vary across age groups. It also analyzes how cross-channel activity levels differ by mobile phone types.
A key component of the research examines how consumers would like to complete 11 different interactions with companies. For seven of the activities, using a computer was the most popular or tied for the most popular channel. At the high end, 71% of consumers want to go online to check the delivery status of a purchase they’ve made. Two-thirds of consumers would prefer to go online to update their address on an account, purchase a new book, and check the balance on a saving or checking account.
But consumers do not want to do everything online. Less than one-third of consumers want to go online to open a new investment account or investigate a mistake in their monthly wireless bill. When it comes to resolving a technical problem on their computers or investigating a mistake on their cell phone bills, consumers most prefer talking to someone over the phone. And they want to meet in-person for activities such as purchasing a new auto insurance policy, selecting a life-insurance policy, and opening a new investment account.
Here are some additional findings from the research:
The report has 19 data-filled charts. Here’s an excerpt from the first chart in the report that shows the channel preferences of consumers for 11 different activities (the report also includes details by age breakdowns for all of these activities):
The report also examines the frequency that consumers do five different cross-channel activities (the report also includes details by age breakdowns for all of these activities):
April 12, 2014 4 Comments
Yesterday I passed the exam to become a Certified Customer Experience Professional (CCXP). Hip hip hooray!
Since I’m very excited about this for many different reasons across a variety of dimensions, I decided to share the top 10 reasons I’m proud to be a CCXP:
The bottom line: I’m proud to be Bruce Temkin, CCXP
April 11, 2014 Leave a comment
I read an interesting article by Sony’s former VP of Brand and Strategy in Fast Company called How Sony Learned That Product Features Don’t Matter. The article discuses how Sony adjusted its digital camera design based on a rich understanding of how consumers were interacting with them. Here are some excerpts from the article:
People would snap informal pictures in the middle of the action and share them with people right on the spot using the instant display on the back of the camera. Picture-taking and picture-sharing added to the fun and action of the occasion in the moment. They wouldn’t be the best quality pictures–oftentimes people would take several pictures of the same shot–but now that they were “free” and disposable, getting the perfect picture was no longer as important. Sometimes images would then be saved, printed, and displayed, but many would remain in the camera forgotten after the moment passed.
This kind of behavior had not been anticipated by our product designers. They had assumed, as most of us had, that digital cameras represented a new, more convenient method of gratifying old, reliable emotional needs–to preserve memories of special occasions by putting images in photo albums and hanging them on walls. Many of our efforts had been focused on helping people take high-quality pictures and on transferring image files from camera to computer for printing and storage.
All the improvements you saw in Sony’s digital cameras during the decade of the 2000s–larger, brighter instant displays, easy gallery-style browsing, wireless instant sharing options, and ever smaller camera sizes–were spurred by these kinds of empathic insights into how people felt about cameras and about photographs.
My take: Sony was able to evolve its digital cameras based on the company’s ability to master the three characteristics of organizational empathy: Perceive-Reflect-Adjust.
The bottom line: Find ways to Amplify Empathy in your organization!
April 9, 2014 Leave a comment
We just published the 2014 Temkin Trust Ratings, the fourth year of the ratings. It uses feedback from 10,000 U.S. consumers to rate 268 organizations across 19 industries. Congratulations to USAA, which earned the top three ratings for its banking, insurance, and credit card businesses. The bottom of the ratings are dominated by TV service providers and Internet service providers. Overall, most companies and industries improved since last year.
This is the fourth year that USAA has earned the highest trust ratings. The next 10 companies on the top of the 2014 ratings are Lexus dealers, credit unions, H.E.B., Trader Joe’s, Chick-fil-A, Publix, Costco, Amazon.com. BMW dealers, and PetSmart.
At the bottom of the 2014 Temkin Trust Ratings are three TV service providers: Charter Communications, Comcast, and Time Warner Cable. These three companies also showed up in the bottom 10 for their Internet services businesses, along with HSBC (for both credit cards and banking), Qwest, and US Airways.
Here’s how the industries compare with each other:
Here are some additional analysis from the 2014 Temkin Trust Ratings:
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.
The Temkin Trust Ratings are based on asking consumers the following question about companies with whom they’ve interacted during the previous 60 days: “To what degree do you TRUST that these companies will take care of your needs?” Potential responses range from 1= “do not trust at all” to 7= “completely trust.” Temkin Trust Rating for a company is calculated by taking the percentages of consumers who respond with a 6 or 7 and subtracting the percentage who responded with 1, 2, or 3.
You can view a sortable list of results from the Temkin Trust Ratings as well as other ratings on the Temkin Ratings website.
The bottom line: Good news: Trust is on the rise
April 8, 2014 Leave a comment
Today we announced the results of the 2014 Temkin Group CX Vendor Excellence Awards. Once again we had a great group of nominees, making the scoring difficult for the judges. Congratulations to this year’s winners:
Also, congratulations to the finalists: Confirmit, Enghouse Interactive, Mindshare Technologies, Qualtrics, and Walker.
In its second year, these awards recognize companies that provide products and services that help companies improve the customer experience they deliver. Nominees are rated based on their capabilities, results, and client feedback.
The CxVE Awards were judged by five noted customer experience experts: Mila D’Antonio (Editor-in-Chief at 1to1 Media), Denise Bahil (CX Transformist at Temkin Group), Desirree Madison-Biggs (Director of Customer Experience Insights & Advocacy at Symantec), Rick Meyreles (VP – Global Voice of Customer, World Service at American Express), and Bruce Temkin (Managing Partner & CX Transformist at Temkin Group).
I’ve included the first two section of the nomination forms submitted by the eight winners and finalists. Read more of this post