USAA Tops 2014 Temkin Trust Ratings

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.

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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.

1404TTR_TopBottom

Here’s how the industries compare with each other:

1404TTR_Industries

Here are some additional analysis from the 2014 Temkin Trust Ratings:

  • Led by credit cards and banking, 17 of the 19 industries improved their Temkin Trust Ratings between 2013 and 2014. Hotel chains were the only industry to experience a decline.
  • The five highest rated industries are grocery chains, investment firms, insurance carriers, retailers, and auto dealers.
  • The five lowest rated industries are TV service providers, Internet service providers, wireless carriers, health plans, and airlines.
  • 180 companies earned higher Temkin Trust Ratings in 2014 than they did in 2013, while only 50 had lower ratings.
  • The five companies with the largest improvement in Temkin Trust Ratings between 2013 and 2014 are CareFirst, T.J. Maxx, Best Buy, Cox Communications, and Apple Store.
  • The six companies with the largest decline in Temkin Trust Ratings between 2013 and 2014 are Holiday Inn Express, Hyatt, Coventry Health Care, Blackboard, Travelers, and Marriott.

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.

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.

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Temkin Ratings website
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

Filed under 2014 Temkin Ratings, Bruce Temkin Research, Customer experience, Temkin Group Research

About Bruce Temkin, CCXP
I'm an experience (XM) management catalyst; helping organizations improve results by engaging the hearts and minds of their employees, customers, and partners. I enjoy researching and speaking about these topics. I lead the Qualtrics XM Institute, which is the world's best job. We're igniting a global community of XM Professionals who are inspired and empowered to radically improve the human experience. To achieve this goal, my team focuses on thought leadership, training, and community building. My work is driven by a set of fundamental beliefs: 1) Everything starts and ends with human beings, so you need to understand how people think, feel, and behave; 2) XM is a discipline that needs to be woven throughout an organization's entire operating fabric; and 3) Building the XM discipline requires a combination of culture, competency, and technology.

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