Category Archives: Market Research

[24]7 Survey Says the Phone Continues to Be an Important Channel for Credit Card Customers

According to a survey* released by [24]7, the intuitive customer experience company, when it comes to interacting with a credit card provider, one out of two respondents begin their customer service interactions with a phone call, despite the efforts by companies to direct customers to self-serve on the web. Given these findings, credit card providers should rethink the phone channel solution that they offer to customers in order to increase customer loyalty, satisfaction and their overall experience.  Continue reading [24]7 Survey Says the Phone Continues to Be an Important Channel for Credit Card Customers

Research: Permissions and strong customer relationships critical for SoLoMo marketing to succeed

New research on Social Local Mobile (SoLoMo) marketing by customer insight company GI Insight reveals that 70% of UK consumers are only happy to receive location-based commercial messages via their mobile phone if they have given prior permission for the company sending the communications to contact them.  Continue reading Research: Permissions and strong customer relationships critical for SoLoMo marketing to succeed

Survey Shows Domestic Landline Has Not Yet Reached the End of the Line

63% of UK adults use their domestic landline at least once a week according to a YouGov survey carried out on behalf of outsourcing company Firstsource Solutions. This is despite 94% of UK adults now owning a mobile phone, according to the Ofcom 2013 Communications report.  Continue reading Survey Shows Domestic Landline Has Not Yet Reached the End of the Line

Study Calls for Businesses to Encourage Consumers to Speak Out More to Help Boost the Bottom Line

Consumers are shying away from providing feedback to companies, just as firms are ramping up their efforts to capture the voice of their customers, a new research study carried out by Verint® Systems Inc. (NASDAQ: VRNT) and the Customer Contact Association (CCA) has found. A recent survey* conducted among nearly 150 senior customer service and contact centre managers at blue chip UK organisations reveals that 95% are investing more in their customers by listening to what they have to say and analysing customer insights.

However, a parallel survey of approximately 1,000 GB consumers carried out by Ipsos MORI** for Verint reveals a neglected nation with only a quarter (24%) believing companies take notice of their views; while just 29% agree they feel valued as a customer. What’s more, it notes that Brits are reluctant to express these feelings. Over half of the consumers surveyed have never made a complaint, and only 16% believe posting about customer service issues on social media helps resolve issues. Despite these perspectives, one in three (33%) believe in the power of social media and how it can make brands more accountable.

Further, the study affirmed that not all consumers fit into one basket. More specifically, it surfaced significant and very different groups of customers. One of which, if properly engaged and incentivised, could act as powerful drivers of loyalty and growth – Brand Champions. In fact, collectively over 33% of customers would, if properly engaged and rewarded, stay loyal for several years and actively endorse the brand to friends, family and social media followers. Today, only 13% of customers in the UK GB could be considered Brand Champions***.

Another group of customers can be defined as “Silent Likers;” 30% of customers fit into this category. Like Brand Champions, they are happy with the service they receive, are brand loyal and don’t complain. However, they are not brand advocates and don’t share their experiences with others.

The study also reveals 24% of consumers are more flippant “Churners,” gravitating towards cheaper deals and typically switching providers within two years. These individuals tend to be least loyal but are among the most likely to receive loyalty-based incentives. The last category of customer is the “Fence Sitter.” Some 16% of customers appear to be ambivalent towards the service they receive. They don’t engage with brands, nor share their experiences.

UK businesses gradually develop ears

Despite the growing investments in “voice of the customer” (VoC) initiatives, professionals admit their companies have some way to go. Though over 80% agree senior management is taking a closer interest in the VoC, they tend not to practice what they preach. Less than a fifth (17%) of respondents said they actually analyse customer feedback every day.

The study further found companies failing to move with the times, for instance, neglecting to track customer discussions on social media in favour of older methods. Almost half (45%) admit they rarely if ever, analyse social media posts, while over 80% use more dated feedback surveys and complaints analysis. Almost three quarters of service leaders (71%) agree they could do more to thank their best customers, and almost half think that offering more one-off benefits could lead to a 10% increase in how much customers spend.

Nancy Dalton, Global Head of Barclaycard Learning and Quality Assurance, comments, “Our core strategy is anchored in service and creating an emotional connection with our customers. This requires that we listen to and act on all of their channels of feedback. Several aspects of these research findings really resonate as fundamentally it shows that any changes and actions taken need to be communicated back to the customer to ensure they know their voice is heard and see the value in their relationship with us. In addition, we want to not only engage with and reward our Brand Champions, but also expand this group further by understanding and responding to the feedback provided by Silent Likers and Fence-Sitters as well. This can really impact how our customers are talking about us.”

Claire Richardson, VP at Verint notes, “For those who believe social media could be the great leveller between businesses and consumers, our study’s findings may come as a surprise. The research has shown evidence of large swathes of valuable customers being overlooked and a high degree of cynicism about companies’ attitudes towards them.”

She adds, “It’s pleasing though to see companies gradually recognising that talking to customers, and expressing gratitude for their loyalty, can deliver real dividends. Organisations need to unify their initiatives within a single Voice of the Customer Analytics strategy, which encompasses contact centre, social, in-store and surveys. The customer service function can be more effective than any other part of the business in gathering customer insights and making them actionable. And, they should be doing all they can to inform customers that they are acting on what they say.”

About the Research

Business Research

*The research was conducted via Verint and the Contact Centre Association among 143 contact centre professionals in the UK during September and October 2013. Positions of respondents varied from director to management, middle management, team leaders and team members. The research explores focus on businesses’ attention on customer retention versus acquisition, attitudes towards customer loyalty, customer communication channels and customer insight strategies.

Consumer Research

** The research was conducted on i:omnibus, Ipsos MORI’s online panel omnibus, in two waves. In wave 1, a nationally representative sample of 1,000 British adults aged 16-75 was interviewed over 3-5 September. In wave 2, a nationally representative sample of 1,002 British adults aged 16-75 was interviewed over 26-28 November 2013. Questions focusing on the industries specified below received c500 responses per wave (i.e. c1,000 in total). Questions without industry focus received 1,000 responses in the first wave only. The survey data has been weighted by age, gender and region to ensure it represents a national mix of respondents.

The research explores attitudes towards services provided by organisations in nine sectors (mobile phone, home telephone/landline, home broadband; banks; credit card providers; insurance; high street retailers; supermarkets and utilities).

***Additional analysis and segmentation of the research was carried out by Brands2Life to formulate the consumer groups during December 2013.

About Verint Enterprise Intelligence Solutions

Verint® Enterprise Intelligence Solutions™ help organisations of all sizes capture and analyse customer interactions, sentiments and trends across multiple channels, improve performance and optimise the customer experience. The solution portfolio includes the Impact 360® Workforce Optimisation™ suite and Voice of the Customer software, which serve as strategic enterprise assets for increasing customer satisfaction and loyalty, enhancing products and services, reducing operating costs and driving revenue.

About Verint Systems

Verint® (NASDAQ: VRNT) is a global leader in Actionable Intelligence® solutions. Its portfolio of Enterprise Intelligence Solutions™ and Security Intelligence Solutions™ helps organisations Make Big Data Actionable™ through the ability to capture, analyse and act on large volumes of rich, complex and often underused information sources—such as voice, video and unstructured text. With Verint solutions and value-added services, organisations of all sizes can make more timely and effective decisions. Today, more than 10,000 organisations in over 150 countries, including over 80 percent of the Fortune 100, count on Verint solutions to improve enterprise performance and make the world a safer place. Headquartered in NY, Verint has offices worldwide and an extensive global partner network. Learn more at www.verint.com.

Customer Satisfaction Gap Between Mobile and Traditional Retail Websites Widens

ForeSee, the global leader in customer experience analytics, has today announced the findings of its annual mobile retail report, which measures customer experience across the UK’s top 10 (as defined by Internet Retailer) mobile retail websites in the UK. The research, carried out among nearly 2,500 surveys as part of the ForeSee Experience Index (FXI), serves to investigate the impact mobile shopping has had on those retailers, and provides valuable insight on how UK shoppers are using their mobiles to browse, research and purchase goods.   Continue reading Customer Satisfaction Gap Between Mobile and Traditional Retail Websites Widens

New research reveals the increasing power of the ‘digital native’

As further evidence that customer complaints can’t be kept quiet in the digital age, research from NewVoiceMedia, a leading provider of cloud contact centre technology, reveals that a third (34%) of US consumers take their revenge online following inadequate customer service; spreading the complaint across their network and beyond.

Thanks to social media, internet forums and review channels, the modern consumer has a convenient public platform at their fingertips and will spread negative sentiment about a business without thinking twice. The survey of 2,030 adults from the United States showed that the figure soared to nearly 60 percent (59.3%) among 25-34 year-olds – clearly demonstrating the generational importance of a channel that’s likely to explode in relevance as Gen Y consumers’ spending power increases.

While 64% of those surveyed stated that traditional forms of communication such as email and phone were their preferred means of complaining for a fast response, more than a quarter of Gen Y and millennials (those aged 16 to 34) believe social media is the most effective means of issue resolution, with Facebook proving to be the favoured social network for interacting with businesses. One respondent explained, “The risk of getting other people’s attention will cause the service providers to act quickly.”

However, the significance consumers place on excellent service presents opportunities as well as threats, as organisations can boost their business by getting it right, even turning complainants into advocates by prioritising the service they receive through other channels. NewVoiceMedia offers social media routing through its cloud contact centre solution ContactWorld which integrates with salesforce.com and enables agents to identify callers with specific social media data before their call is answered, and prioritise accordingly.

Seventy percent of respondents said that good service had a considerable influence on their loyalty and 69 percent would recommend the company to others. Half would use the business more frequently and 42 percent are prepared to spend more money with them.

Jonathan Gale, CEO at NewVoiceMedia, who commissioned the research, comments, “Not long ago, customers would tell friends and family if they were dissatisfied with service they’d received. While this is damaging to a brand, it’s not nearly as powerful and immediate as customers who take their complaints online; particularly as consumers are increasingly turning online to read about others’ experiences before choosing a product or supplier. Over the next few years we expect to see these statistics soar as the younger generation matures.

“Customers want personalised and engaging experiences every time, through every channel. Great customer experience is the critical differentiator and by doing it well, organisations can drive the customer acquisition, retention and efficiency that make leading companies successful.”

Shep Hyken, customer service expert and New York Times bestselling author, adds, “Give customers a positive experience and they reward you with loyalty. Fail and you risk being one of the companies that collectively has lost $41 billion when customers switched to a competitor.”

Hyken and NewVoiceMedia will be hosting a webinar on January 27 to review critical findings from the research, exploring why over $41 billion of revenue is lost each year due to poor customer experiences, and how this can be prevented. Register here and download the research paper at www.newvoicemedia.com

About NewVoiceMedia

NewVoiceMedia is a leading provider of true cloud contact centre and voice solutions, enabling businesses of all sizes to deliver a personalised and unique customer experience, quickly and securely. Customer service is the lifeblood of any organisation and NewVoiceMedia’s ContactWorld for Sales & Marketing and ContactWorld for Service make every customer interaction a great experience.

Service availability and security are critical attributes of the cloud. NewVoiceMedia guarantees 99.999% service availability, and transparently backs that up with a Trust Site (http://www.newvoicemedia.com/trust), which offers real-time data on how its services are performing.

Established more than 10 years, NewVoiceMedia has 200+ customers in 40 countries on five continents covering most industry sectors. Customers include Topcon, PhotoBox, DPD, Lumesse, QlikTech and Cunningham Lyndsey.

For further information, please visit www.newvoicemedia.com.

New research reveals how strategic decision making stands to gain from contact centre insight

New research from leading cloud contact centre vendor NewVoiceMedia and Callcentre.co.uk, reveals how organisations can significantly improve their customer experience by involving contact centre managers in business-level strategic decision making.  Continue reading New research reveals how strategic decision making stands to gain from contact centre insight

Contact centres struggling under the weight of multiple channels

Just 15% of contact centre agents are easily able to track customers across multiple channels, and almost half are required to use as many as 15 different systems to do their job. This is according to a joint research report between the Customer Contact Association (CCA) and Cisco.  Continue reading Contact centres struggling under the weight of multiple channels

Genpact UK Survey Points to the Demise of the Bank Call Centre and Rise of the Virtual Bank

Research published today by Genpact Limited, a global leader in transforming and running business processes and operations, reveals a tangible shift in personal banking preferences in Britain – away from bank-staff driven and toward customer self-directed services. The survey of 2,337 adults living in Britain, conducted by YouGov, revealed that close to two thirds (64%) of people online who hold a current account with a bank or building society would prefer to conduct their banking online or via a mobile application compared to just 29% who prefer telephone or in-branch banking.  Continue reading Genpact UK Survey Points to the Demise of the Bank Call Centre and Rise of the Virtual Bank