Greetings!
How many companies do you trust? Probably only a few. Not too many firms have earned this level of relationship with their customers. But USAA is an exception, as it has earned the top spot in the Temkin Trust Ratings for the third straight year. Read additional results below from our 2013 ratings of 246 companies across 19 industries.
In this journal, I also explore a post from the Customer Experience Matters blog that examines how people make purchase decisions. While price is an important factor, most purchases are made for different reasons. Other recent posts examine direct-to-consumer health care and the difference between employee entitlement and engagement.
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2013 Temkin Trust Ratings
We released the third annual Temkin Trust Ratings of 246 companies across 19 industries. The ratings are based on a survey of 10,000 U.S. consumers.
For the third straight year, USAA came out on top, this year earning the top two spots. The other companies in the top 10 of the ratings are credit unions, Publix, H.E.B., Amazon, Trader Joe's, Charles Schwab, and Sam's Club.
HSBC, on the other hand, earned two of the bottom three ratings. 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.
Congratulations to Citigroup (credit cards), Hyundai, Alaska Airlines, Continental Airlines, Bank of America (banking & credit cards), Avis, and EarthLink for making the largest improvements between 2012 and 2013.
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Why People Buy What They Buy
In eight of the purchases, price was the most selected criteria. But it was only selected by a majority of consumers for two areas: airline tickets and auto insurance policies. The consumers who selected price as the most important decision criteria ranges from 65% for airline tickets down to 22% for credit cards.
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Customer Experience Workshop in Boston in July
- Understand how to create sustainable CX improvements
- Gauge your organization's CX maturity
- Systematically evaluate experiences using Temkin Group's SLICE-B methodology
- Develop feedback, metrics and measurements that reinforce CX goals and objectives
It's also a great time of year to come to Boston and there's even an option to join us at a Red Sox game.
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Customer Experience Matters Blog
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Temkin Group Research Plans and Update
We're currently researching CX governance and organizational models, evolution of customer insight analytics, an employee engagement maturity model, and the 2013 Temkin Experience Ratings for Tech Vendors. We're also preparing the next set of Temkin Ratings with the 2013 Web Experience and Customer Service Ratings.
Please see information below about our corporate research subscriptions.
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Corporate Subscriptions to Temkin Group Research
Temkin Group research and advisory services can be a great resource for your CX efforts. The insights will help you implement best practices, benchmark your performance, identify mistakes to avoid and provide you with guidance along the way. Our corporate subscriptions include:
- Unlimited access to all Temkin Group research and Temkin Ratings data for all of your employees for 12 months (for internal use only)
- Up to 10 inquiries (questions that Temkin group can answer in a short email or during a phone conversation of up to 20 minutes)
- One advisory call (phone discussion up to 90 minutes)
Please send us an email if you are interested in pricing or in receiving more details about our research subscriptions.
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CXPA Update
Here are new things we've recently announced:
- CX Professional Certification. Later this year we will be rolling out a professional certification program for CX management called the Certified Customer Experience Professional (CCXP).
- CX Day: Mark your calendars for 10/1/2013 for the inaugural Customer Experience Day! It will be a day for celebrating the profession.
- MIE 2014. Next year's Member Insight Exchange will be held on May 13 and 14 in Atlanta.
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Sincerely,
Bruce Temkin
Customer Experience Transformist
& Managing Partner
Temkin Group
Chair, Customer Experience Professionals Association
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We are a research and consulting firm that combines thought leadership with a deep understanding of the dynamics of large organizations to accelerate their customer experience transformational efforts
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Six Laws of Customer Experience
1) Every interaction creates a personal reaction.
2) People are instinctively self-centered.
3) Customer familiarity breeds alignment.
4) Unengaged employees don't create engaged customers.
5) Employees do what is measured, incented, and celebrated.
6) You can't fake it.
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1) Faking Executive Commitment
2) Over-Relying on Customer Surveys
3) Neglecting Experience Design
4) Treating All Customers the Same
5) Un-Engaging New Customers
6) Ignoring Employees
7) Obsessing About Detractors
8) Forgetting to Celebrate Success
9) Falling in Love with a Metric
10) Mapping Internal Touchpoints
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