Customer Contact Experience Benchmarks Banking Industry

Transcription

1 MEDICAL DEVICES PHARMACEUTICALS CHEMICALS FOOD & BEVERAGE ELECTRONICS Customer Contact Experience Benchmarks Banking Industry VPG Publications, Consulting, Clients VPG Market Research Reports VPG Partner Reports VENTURE PLANNING GROUP 545 Eighth Avenue, Suite 401 New York, NY Phone Fax info@vpgcorp.com

2 Customer Contact Experience Benchmarks Banking Industry Assessing the Customer Contact Experience in the United States December 2011

3 Contents Research Objectives, Method Details, and Demographics 3 Multi-Channel Customer Contact Executive Summary 7 Live Agent Phone Interactions 19 Interactive Voice Response (IVR) Interactions 33 Interactions 40 Web Chat Interactions 46 Web Self-Service Interactions 48 Brand Profiles: Top Three Brands 54 The Frost & Sullivan Story 68 2

4 Executive Summary Use of Specific Channels Within the banking industry, the most popular contact channels are as follows: phone/live agent (used by more than half of those who contacted banks within the past four weeks) and website self-service (used by xx percent). and IVR have been used by xx and xx percent, respectively, while website chat with a live agent seems to be a niche channel (used only by x percent). Top Channels: Satisfaction, Meeting Expectations, and Loyalty Website self-service received the highest overall level of satisfaction score (mean score x.xx on the scale from 1 = very dissatisfied to 7 = very satisfied) score, followed by phone/live agent (mean score x.xx). Website self-service together with best satisfied customer expectations (mean score x.xx on the scale 1 = below expectations, 2 = expectations met, 3 = above expectations). Phone/live agent obtained slightly lower results (x.xx). Website self-service also received high customer loyalty score * results (mean score x.xx on the scale from 1 = very unlikely to 7 = very likely). (mean score x.xx) and phone-live agent (mean score x.xx) round out the top-three. *Customer loyalty score is an average of scores on the likelihood of the following future actions: Remain customer for at least one year, increase purchases of services or products, recommend this company and its products to family/friends, where 1=very unlikely and 7=very likely. 8

5 Executive Summary Evaluation of Contact Channels In general, the banking industry offers its customers high overall level of satisfaction : the industry weighted mean score* is x.xx on the scale from 1 = very dissatisfied to 7 = very satisfied. Overall, the banking industry also satisfies or even slightly exceeds its customers expectations: industry weighted mean score is x.xx on the scale 1 = below expectations, 2 = expectations met, 3 = above expectations. Lastly, the banking industry also keeps its customers quite loyal: the weighted mean customer loyalty score was x.xx on the scale from 1 = very unlikely to 7 = very likely. Top Bank Among all banks surveyed, PNC Bank received the highest overall satisfaction scores across all channels (weighted mean score x.xx on the scale from 1 = very dissatisfied to 7 = very satisfied), followed by TD Bank (weighted mean score x.xx) and SunTrust Bank (weighted mean score x.xx). PNC Bank also leads with regards to overall level of expectations (weighted mean score x.xx) and customer loyalty score (weighted mean score x.xx). The weighted mean score took into account the results that each bank obtained in specific channel. The weights given to specific channels, which reflected the popularity of the channels, were as follows: phone/live agent, x.xx; phone/ivr, x.xx; , x.xx; website chat, x.xx; website self-service, x.xx. 9

6 Customer Interactions by Contact Channel Industry Aggregate Summary Q: Please select any of the following types of companies, for your personal use only, for which you have contacted customer services within the last four weeks via any of the following customer contact channels/systems: phone/live agent, phone/ivr, e- mail, website chat with live agent, or website self-service. Customer Interactions by Contact Channel Base: All who successfully contacted banks, N= % 80% Percent of Customers 60% 40% 53% 39% 20% 15% 12% 5% 0% Phone-Live Agent Website Self-Service Phone-IVR (Interactive Voice Response) Website-Chat with Live Agent 10

7 Customer Satisfaction by Contact Channel Industry Aggregate Summary Q: Considering your customer service experience overall, how would you rate your level of satisfaction? Customer Satisfaction by Contact Channel Base: All who contacted banks via specific channels 7=Very satisfied 7 Level of Satisfaction =Very dissatisfied 1 Website Self-Service (N=595) Phone-Live Agent (N=816) (N=230) Phone-IVR (N=179) Website-Chat with Live Agent (N=70) 11