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Engaging Employees In Your CX Journey

Report: State of the CX Profession, 2015

1503_StateOfCX Profession2015_COverWe just published a Temkin Group report, State of the CX Profession, 2015. This is the fifth year that we’ve examined the roles of CX professionals and the second year that we’ve done a compensation study. Here’s the executive summary:

To better understand the mindset and roles of CX professionals today, we surveyed 270 CX professionals and then compared their responses to similar studies we conducted over the previous four years. Although 98% of respondents believe that customer experience is a great profession to work in, these professionals feel less appreciated than they did last year. Web interactions and voice of the customer programs continue to be key areas of responsibility for these professionals, and respondents expect spending on and hiring for CX activities to grow in 2015, with voice of the customer software vendors enjoying the most positive momentum. On this year’s survey we included our second annual compensation study. We examined 126 CX professionals from large organizations and found that their average compensation (salary plus bonus) ranged from $92,000 for mid-level individual contributors to $344,000 for CX executives.

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CX continues to be a great profession….

1503_CXGreatProfession

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The bottom line: The CX profession is thriving.

Examining Five Years of Temkin Trust Ratings

We just published the 2015 Temkin Trust Ratings, the fifth year of the ratings. It uses feedback from 10,000 U.S. consumers to rate the level of trust that consumers have with 293 organizations across 20 industries.

Download 2015 Temkin Trust dataset for $295 (see sample file)

Since it’s the fifth year of the ratings (see ), I’m taking a look at some trends:

  • Four industries have increased their Temkin Trust Ratings for four consecutive years: Airlines, computers, banks, and credit cards. Over the previous year, 10 industries declined while five improved.
  • All of the 12 industries that have been in the ratings since the beginning have improved. Banks and credit cards have gained the most over the previous five years (+24 points), while Internet service providers (+5 points) and retailers (+6 points) gained the least.
  • Four industry averages increased more than one point in their Temkin Trust Ratings between 2014 and 2015: Hotels (+4.2 points), computers & tables (+3.8), banks (+2.8), and credit cards (+2.6).
  • Eight industry averages decreased more than one point in their Temkin Trust Ratings between 2014 and 2015: Internet service (-4.6 points), auto dealers (-3.6), software (-2.8), investment firms (-2.7), major appliances (-2.5), TV service (-2.4), health plans (-1.7), and wireless carries (-1.6).
  • 132 companies have been in the Temkin Trust Ratings for five years. Over that time, US Bank, USAA (banking), and credit unions (banking) have gained the most, (+30 or more points). Cox Communications has dropped the most (-21 points), while MSN and Edward Jones are the only other firms to drop by more than 10 points.
  • Led by Residence Inn’s improvement of 22 points between 2014 and 2015, 41% of the firms that were in both years Ratings improved by at least 1 point. Five other firms gained more than 15 points over the previous year: Qwest, Hyatt, Panda Express, HSBC, and Holiday Inn Express.
  • Forty-three percent of firms dropped at least one point between 2014 and 2015, with Coventry Health Care dropping the most (21 points). Five other firms lost 15 or more points between 2014 and 2015: Health Net, Cox Communications, BMW, Advantage RAC, and TD Ameritrade.

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H-E-B and Credit Unions Top 2015 Temkin Trust Ratings

We just published the 2015 Temkin Trust Ratings, the fifth year of the ratings. It uses feedback from 10,000 U.S. consumers to rate the level of trust that consumers have with 293 organizations across 20 industries (see .pdf with full list). You can see all of the company data on the Temkin Ratings website.

Download dataset for $295 (see sample file)

H-E-B and credit unions took the top spots in the 2015 Temkin Trust Ratings, while USAA took three of the next four spots for its banking, insurance, and credit card business. Publix rounds out the top six firms.

Comcast earned the lowest two spots in the Temkin Trust Ratings for its TV service and Internet service businesses. Also at the bottom of the list are Charter Communications, Coventry Health Care, Time Warner Cable (for both its TV service and Internet service businesses), Consolidated Edison of NY, Cox Communications, and Spirit Airlines.

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2015TTR_TopBottom

Only 6% of firms earned “excellent” ratings (above 70%) and 28% earned “good” ratings (60% to 70%). At the other end of the spectrum, 9% of firms earned “very poor” ratings (below 40%) and 22% earned “poor” ratings (40% to 50%).

With average 2015 Temkin Trust Ratings of 67%, supermarket chains earned the highest level of trust. Three other industries earned “good” trust ratings: insurance carriers, retailers, and parcel delivery services. TV service providers (32%) and Internet service providers (34%) earned average scores in the “very poor” range, while wireless carriers, health plans, and utilities earned average scores in the “poor” range. Read more of this post

USAA and Credit Unions Lead Banks in Customer Experience

We recently released the 2015 Temkin Experience Ratings that ranks the customer experience of 293 companies across 20 industries based on a survey of 10,000 U.S. consumers.

USAA and credit unions tied for the top spot, each with a rating of 81%, putting them in 8th place overall out of 293 companies across 20 industries. Credit unions (which is a rating for a group of credit unions, not one company) have earned the highest ranking for banks over the past four years. USAA has been hovering around the top of the banking list since 2011, but this is the first year that it actually took the top spot.

Meanwhile, BB&T debuted on the Ratings at the bottom of the industry, with a rating of 61% and a rank of 199th overall. Citibank was not far ahead, receiving a rating of 62% and coming in 187th place overall.

Here are some highlights from the banking industry:

  • Overall, the banking industry averaged a 71% rating in the 2015 Temkin Experience Ratings and placed 5th out of 20 industries. The average rating of the banking industry stayed steady at 71% between 2014 and 2015.
  • The ratings of all banks in the 2015 Temkin Experience Ratings are as follows: USAA (81%), A credit union (81%), Regions (78%), SunTrust Bank (73%), PNC (73%), Chase (73%), Citizens (73%), TD Bank (72%), S. Bank (72%), Capital One 360 (72%), Bank of America (67%), Capital One (67%), Wells Fargo (66%), Fifth Third (66%), Citibank (62%), and BB&T (61%).
  • Citizens (+6 points), Fifth Third (+6 points), and Bank of America (+4 points) improved their ratings the most between 2014 and 2015.
  • TD Bank (-8 points), Wells Fargo (-5 points), and Regions (-3 points) declined by the most percentage-points between 2014 and 2015.

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USAA Leads Credit Cards in Customer Experience

We recently released the 2015 Temkin Experience Ratings that ranks the customer experience of 293 companies across 20 industries based on a survey of 10,000 U.S. consumers.

For the fifth straight year, USAA took the top spot in credit cards with a rating of 80%, placing it 13th overall out of 293 companies across 20 industries. USAA has been the highest-rated credit card issuer since the Ratings began in 2011. Discover and American Express tied for second place, each with a rating of 73% and an overall ranking of 76th. At the other end of the spectrum, HSBC was the lowest-rated credit card issuer for the third year in a row, with a rating of 54% and an overall ranking of 253rd.

Here are some highlights from the credit card industry:

  • Overall, the credit card issuers industry averaged a 67% rating in the 2015 Temkin Experience Ratings and placed 6th overall out of 20 industries.
  • The ratings of all credit card issuers in the 2015 Temkin Experience Ratings are as follows: USAA (80%), Discover (73%), American Express (73%), Barclaycard (69%), Chase (68%), Citigroup (66%), Capital One (66%), S. Bank (66%), Bank of America (63%), Wells Fargo (61%), PNC (58%), and HSBC (54%).
  • USAA (+3 points), HSBC (+3 points), Discover (+2 points), American Express (+2 points), and Barclaycard (+1 points) all improved their ratings between 2014 and 2015.
  • Wells Fargo (-7 points), Capital One (-3 points), and S. Bank (-2 points) declined by the most percentage-points between 2014 and 2015.

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Fidelity Investments Leads Investment Firms in Customer Experience

We recently released the 2015 Temkin Experience Ratings that ranks the customer experience of 293 companies across 20 industries based on a survey of 10,000 U.S. consumers.

Here are some highlights from investment firms:

  • The investment industry’s average declined sharply over the past year, down from 67.7% in 2014 to 64.0% in 2015. The industry tied for 9th place out of the 20 industries we evaluated.
  • Despite dropping by three percentage-points, Fidelity Investments earned the highest average of any investment firm, scoring 72% and place 89th out of 293 companies. This is the second year in a row that Fidelity took the top spot; although, it still took second place every year between 2011 and 2013. Charles Schwab took 2nd place int e industry with a Rating of 69%.
  • Capital One 360 spent its first year in the Ratings at the bottom of the investment industry, scoring 55% and placing 245th out of 293 companies.
  • Of the 12 companies we looked at both last year and this year, only three improved their ratings. Scottrade improved the most, going up eight percentage-points since 2014, while Wells Fargo Advisors went up by four points and Merrill Lynch improved by two points.
  • Nine companies decreased their rating between 2014 and 2015. The companies that dropped the most were TD Ameritrade (-14 percentage-points), E*TRADE (-9 points), Edward Jones (-8 points), and Charles Schwab (-6 points).
  • Since 2014, TD Ameritrade’s three component score declined more than any other investment firm’s. Its success score dropped by 14 percentage-points between 2014 and 2015, while its effort score dropped by 12 points and its emotion score dropped by 15 points.
  • Since 2014, Scottrade’s three component scores improved more than any other company’s. Its success score improved by eight percentage-points over the past year, its effort score improved by 10 points and its emotion score improved by nine points.
  • Capital One 360 fell furthest below the industry average for both the success and effort score.

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JetBlue and Southwest Lead Airlines in Customer Experience

We recently released the 2015 Temkin Experience Ratings that ranks the customer experience of 293 companies across 20 industries based on a survey of 10,000 U.S. consumers.

Overall, the airline industry averaged a 63% rating in the 2015 Temkin Experience Ratings and tied for 12th place out of 20 industries. It was also one of only five industries to improve its rating over the past year, increasing its average by 1.2 percentage-points.

JetBlue took the top spot with a rating of 75%, placing it 52nd overall out of 293 companies across 20 industries. Southwest Airlines came in second with a rating of 72%, placing it 89th overall. JetBlue shot up from the middle of the pack in 2014 to the top spot in 2015, improving by an astounding 15 percentage-points over the past year.

At the other end of the spectrum, Spirit Airlines, which made its debut on the ratings this year, was the lowest-scoring company in the industry. It received a rating of 47%, which put it in 281st place overall.

Here are some additional findings from the airline industry:

  • The ratings of all airlines in the 2015 Temkin Experience Ratings are as follows: JetBlue Airlines (75%), Southwest Airlines (72%), Delta Airlines (69%), Alaska Airlines (69%), Virgin America (63%), American Airlines (57%), United Airlines (56%), US Airways (55%), AirTran Airways (52%), and Spirit Airlines (47%).
  • JetBlue Airlines (+15 points), Delta Airlines (+6 points), and Alaska Airlines (+4 points) improved the most between 2014 and 2015.
  • American Airlines (-5 points), United Airlines (-5 points), and AirTran Airways (-4 points) were the only companies in this industry whose ratings declined between 2014 and 215.

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