Which Companies Get The Most Feedback?
September 9, 2011 3 Comments
In the report How Consumers Give Feedback to Companies, we analyzed the different ways in which consumers give feedback to companies. On average, 34% of US consumers give feedback directly to companies after a very bad experience, while 21% give feedback after a very good experience. But how did it differ across companies? In other words, which companies hear more about these interactions than their peers?
I identified the companies that had at least 100 consumers who had these experience, which gave me a list of 144 companies to examine for very bad experiences and 141 to examine for very good experiences. Here are the companies that get the most and the least feedback directly from consumers.
Here are some observations of the data:
- Direct feedback after a bad experiences ranges from 25% to 52% while direct feedback after a good experience ranges from 19% to 41%.
- Hotels seem to get the most direct feedback, while banks and retailers hear the least about very good experiences.
- Led by Hyatt, Hampton Inn and Courtyard By Marriott (at 52%), six companies received feedback on very bad experiences directly from consumers. At the other end of the spectrum, Cablevision, Optimum and Medicaid heard from less than one-third of the consumers that had a bad experience with them.
- Hyatt wad the only company to hear from at least 40% of consumers that had a very good experience, while FIfth Third heard from less than one-fifth of those highly-satisfied consumers.
- I also examined the difference between feedback after very bad experiences and feedback after very good experience for each of the companies. Interestingly, only one company (Cablevision) received more feedback after a very good experience than it did after a very bad experience.
- Here are the 10 companies that receive the most negatively biased feedback (% of very bad feedback minus % of very good feedback): Vanguard (23%), Fifth Third (22%), Citizens (22%), Travelers (20%), USAA– Bank (20%), Quest (20%), USAA– Investments (19%), HSBC (19%), PNC (19%), TD Ameritrade (18%)
What does it mean?
- Direct feedback provides companies with a negatively biased view of consumer experiences.
- Companies hear from a less than half of consumers that have a very good or very bad experience. In many cases, however, the percentages should be high enough for companies to successfully analyze that feedback.
- Companies should look at why they aren’t getting high levels of feedback. I’m not sure who came up with this saying, but I totally agree with it: “feedback is a gift.”
- Getting feedback is only one part of the equation. you still need to learn from it and and act on what you learn.
The bottom line: For every consumer who gives you feedback about a great experience, you probably have three to four others that feel the same way but didn’t tell you.
You can download the data
on all companies for free.