July 2016
Employee Engagement, Customer Service, and
NPS Economics
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Greetings!
This has been a newsworthy month, with the U.S. celebrating independence day, UK voting to leave the EU, and some tragic events around the world. I hope that you have been able to spend some peaceful, quality time with your friends and family.
We've also had a busy month here at Temkin Group, publishing several new pieces of research, which I discuss in more detail later in the journal:
- State of Employee Engagement Maturity. We used Temkin Group's Employee Engagement Competency & Maturity Assessment to gauge the maturity levels and efforts of large companies across a set of competencies called the Five I's of Employee Engagement.
- 2016 Temkin Customer Service Ratings. USAA earned the highest score in the 2016 Temkin Customer Service Ratings for the fourth year in a row. These Ratings evaluate the customer service of 277 companies across 20 industries based on a study of 10,000 U.S. consumers.
- Economics of Net Promoter, 2016. We found that compared to detractors, promoters are more than five times as likely to repurchase from companies, more than seven times as likely to forgive companies if they make a mistake, and almost nine times as likely to try new offerings from companies. Our research provides detailed loyalty data of promoters, passives, and detractors across 20 industries.
- July 19 & 20 in Boston:
- August 3 in Sydney, Australia:
- August 11 & 12 in Melbourne, Australia:
- August 16 & 17 in Boston:
As part of our Intensify Emotion movement, we are looking to highlight vendors who are helping their clients discuss, measure, enhance, and design for emotion. If you are interested in being featured in the showcase, please visit this site.
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Temkin Group is a leading CX research, advisory, and training firm. We help the world's largest brands accelerate their transformational journeys towards customer-centricity and build loyalty by engaging the hearts and minds of customers, employees, and partners. Our team combines CX thought leadership with a deep understanding of the dynamics of organizations to accelerate results.
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CX Workshop in Boston on July 19th & 20th
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In Case You Missed It...
Here is some research we discussed in recent journals:
- Temkin Experience Ratings Industry Snapshots. These snapshops show detailed results for each of the 20 industries in our annual customer experience benchmark.
- Emotion-Infused Experience Design. Temkin Group has developed a strategy to help companies create a stronger emotional connection with customers, which we call Emotion-Infused Experience Design.
- State of CX Management, 2016. For the seventh year in a row, we've benchmarked the customer experience competencies and maturity levels of large organizations.
- What Happens After a Good or Bad Experience, 2016. This report provides data on bad experiences delivered across companies and industries, how consumers respond after those experiences (in terms of sharing those experiences and changing their purchase behaviors), and the effect service recovery has on customer experience and behavior.
- The Federated Customer Experience Model. In the long run, companies need to focus more on embedding CX capabilities across departments and functions through what we've defined as a federated CX model.
- Customer-Infused Process Improvement. We share five strategies for connecting customer experience with process improvement methodologies.
- Lessons in CX Excellence, 2016. This report describes the customer experience efforts of this year's CX Excellence Award finalists.
- ROI of Customer Experience, 2015. We use data to show the connection between customer experience and loyalty across 20 industries.
- Tech Vendor NPS Benchmark Study (B2B). This report provides NPS data for 62 tech vendors based on feedback from 800 IT decision-makers in large organizations.
- Net Promoter® Score Benchmark Study, 2015. This report provides NPS data for 291 companies across 20 industries based on a study of 10,000 U.S. consumers.
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Join the $1,000 Intensify Emotion Challenge
In our CX Trends for 2016, we named 2016 " The Year of Emotion." To help organizations focus more on emotion, we created an Intensify Emotion page with numerous resources, including the opportunity to win part of our $1,000 award.
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State of Employee Engagement Maturity
Our data shows that customer experience leaders have more engaged employees than their peers. To understand what companies are doing to engage their employees, we surveyed more than 150 large companies and compared their responses with similar studies from previous years, which we detail in the report State of Employee Engagement Maturity, 2016.
We found that two-thirds of companies survey their employees at least once a year, but less than half of executives consider it a high priority to act on the results of the survey.
We used Temkin Group's Employee Engagement Competency & Maturity Assessment to gauge the maturity levels and efforts of these companies across our five competencies, called the "Five I's of Employee Engagement:" Inform, Inspire, Instruct, Involve, and Incent. You can see the high-level results below.
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2016 Temkin Customer Service Ratings
USAA earned the top spot this year for its banking business, followed closely by Publix. This is the seventh annual Temkin Customer Service Ratings, and it evaluates the customer service of 277 companies across 20 industries based on a study of 10,000 U.S. consumers. Here are the highest and lowest rated companies:
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Economics of Net Promoter Score
Net Promoter® Score (NPS®) is a popular metric that companies use to analyze their customer experience efforts, but how does it actually relate to loyalty? We asked thousands of consumers to give an NPS to 294 companies across 20 industries, and then we examined the connection between NPS and four key areas of loyalty.
In the report Economics of Net Promoter, 2016, we show the connection between NPS and loyalty for 20 different industries. Here's the average loyalty differences for promoters, passives, and detractors across all industries: |
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Temkin Group Research Plans and Updates
We have quite a few exciting new reports underway, including Social Media Benchmark, 2016, Temkin Web Experience Ratings, and Mobile Disruption of VoC. Here are some ways that Temkin Group can help accelerate your CX success: |
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If you're interested in Temkin Group's research or services, then drop me a line at
bruce@temkingroup.com, visit our website at www.temkingroup.com, or give us a call at (617) 916-2075.
Sincerely,
Bruce Temkin, CCXP
Customer Experience Transformist & Managing Partner
Temkin Group
Co-founder, Customer Experience Professionals Association
Net Promoter Score, Net Promoter, and NPS are registered trademarks of Bain & Company, Satmetrix Systems, and Fred Reichheld.
Customer Experience Matters is a registered trademark of Temkin Group.
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