Shortly after federal regulators fined Wells Fargo $185 million for its decades-long fake account fiasco perpetrated by employees who opened more than two million unauthorized accounts in order to meet high-pressure sales goals, the company said it would ditch the incentive system. Now, the bank has finally outlined its new approach to compensating employees that shifts the focus away from upselling add-on products and toward improved customer satisfaction. [More]
All Walmarts are, bluntly, not created equal. Some have better customer service than others and are just plain more pleasant shopping experiences. And if you’ve felt like the Walmarts in richer ZIP codes are more likely to be the nicer ones, well, one study says you’re right.
If you’ve got problems with the company providing your TV and broadband service, you are most definitely not alone. Our siblings over at Consumer Reports ran a national survey to find out how satisfied with their cable and internet providers subscribers really are. And the findings won’t surprise most Consumerist readers: when it comes to their telecom providers, most consumers are a lot less than pleased.
Walmart may be the nation’s largest retailer and its biggest supermarket chain, but the latest results from the American Customer Satisfaction Index once again show that Big W continues to lag far behind all of its competition. [More]
Before we all get to giving thanks and whatnot, let’s have a discussion about the stagnant state of consumer satisfaction. A new study on “customer rage” shows that people are really no more or less satisfied with how businesses resolve complaints. [More]
Rachel is sick of surveys and writes in to ask if we think they serve any purpose.
Not only does Walgreens.com have a wide variety of “Sexual Wellness” products, from the usual lubrication and condoms all the way to vibrators and “Adult Toys for Men,” they’re really not holding back when it comes to the descriptions of each item, and why you’d be crazy not to buy them.
There’s a new Consumer Reports survey out that ranks cellphone companies by customer satisfaction, and to pretty much no one’s surprise, AT&T comes in last in all 19 cities surveyed. (Verizon came in first.) As AllThingsD notes, the survey “suggests that AT&T’s shortcomings are more widespread than the carrier would have us believe and not simply the product of a high concentration of iPhones in the country’s larger cities.”
You’re not alone hating Indian call centers. Indians hate them too, mostly because they get stuck dealing with an even lower caste of customer service representatives than Americans. The well-educated smooth talking CSRs get the prestigious jobs infuriating foreign customers, while the the untrained masses are paid basmati to cater to India’s domestic customers.
You may be thinking to yourself, “Congratulations, you’ve written the world’s most obvious headline!” And you’d be right, but according to J.D. Power and associates there could be something of a sea change going on in the universe of airline complaints. It seems that crappy customer service may have reached a Gladwellian “tipping point” — more customers are choosing which airline to fly based on factors other than price.
The American Customer Satisfaction Index (ACSI) dropped again for the second consecutive quarter to 74.9. Why does this matter? “When customer satisfaction declines, consumers have less enthusiasm for repeating experiences that no longer provide the same gratification,” says Professor Claes Fornell. AKA, they’ll be spending less money.
Did you know that if you keep 5% more of your customers, you will make 35-95% more profit? Those were the findings of a Harvard researcher* when he investigated the financial impact of keeping customers around. The chart above demonstrates how a 5% increase in retention rates increased profit across a variety of industries. The equation is simple: make us stick around (usually by making us happier) and we’ll make you more money. Cut out support, services, make it difficult to talk to you, etc, and while you might save in the short, you’ll lose in the long-term.
Mainly driven by higher food prices, the American Customer Satisfaction Index went down for the first time in two years of continual growth. The blip was minus .1%, still up 1% from a year ago. [ACSI]
Customer satisfaction with buying cellphones at stores fell this year, reports J.D. Power and Associates in the recently released 2007 Wireless Retail Sales Satisfaction StudySM-Volume 2.
American Express ranks highest in customer satisfaction in the J.D. Power and Associates 2007 Credit Card Satisfaction Study. They said there’s two types of customers. One is transactors, who pay their bill off in full each month and for whom membership benefits are the most important drivers of customer satisfaction. The other is revolvers, who don’t pay their bill off in full each month, and for whom APR and fees are the most important drivers of customer satisfaction. So if we flip this survey over….
A new market research study of over 3600 consumers has confirmed that there are some key things that will quickly erode any trust a customer has in a company: unethical behavior, bad customer service, and outdated products and services. The bad news is that the study was conducted in Europe, which makes us wonder if U.S. companies will pay any attention.