Temkin Experience Ratings Correlate to Loyalty
November 26, 2013 Leave a comment
I’ll start with the takeaway: Better customer experience leads to more forgiving customers, more trusting customers, and higher Net Promoter Scores (and a myriad of other good things that we did not include in this post).
The 2013 Temkin Experience Ratings benchmarked the customer experience of 246 companies across 19 industries based on a survey of 10,000 U.S. consumers. But how does a good score relate to other measures of loyalty? I took a look at that question by examining how companies fared compared with their peers in other Temkin Ratings.
I separated the companies into five groups based on how far above or below they scored on the Temkin Experience Ratings compared with their industry averages. Using these clusters of companies, I examined their Net Promoter Scores, Temkin Forgiveness Ratings, and Temkin Trust Ratings compared to their industry averages. As you can see in the graphic below, companies with the highest performing Temkin Experience Ratings outperformed those in the bottom group by:
- 25.7 points in NPS
- 16.1 points in Temkin Forgiveness Ratings
- 20.9 points in Temkin Trust Ratings
The bottom line: If you want more loyal customers, improve your customer experience