Credit Unions, USAA, and Regions Earn Top Customer Experience Ratings for Banks

We recently released the 2016 Temkin Experience Ratings that ranks the customer experience of 294 companies across 20 industries based on a survey of 10,000 U.S. consumers. Credit unions, USAA, and Regions deliver the best customer experience in the banking industry, according to the 2016 Temkin Experience Ratings, an annual customer experience ranking of companies based on a survey of 10,000 U.S. consumers. Credit unions took the top spot in the banking industry for the fifth year in a row, earning a rating of 77% and placing 7th overall out of 294 companies across 20 industries. USAA and Regions tied Read More …

USAA, Credit Unions and Publix Top 2016 Temkin Trust Ratings

We just published the 2016 Temkin Trust Ratings, the sixth year of the ratings. It uses feedback from 10,000 U.S. consumers to rate the level of trust that consumers have with 294 organizations across 20 industries (see .pdf with full list). You can see all of the company data on the Temkin Ratings website. Download dataset for $295 (see sample file) For the second straight year, USAA (for banking and insurance) took the top two spots. The next highest scoring companies are credit unions, Publix, Mercedes-Benz, USAA (credit cards), Chick-fil-A, Amazon.com, Residence Inn, H-E-B, Lexus, and BJ’s Wholesale Club. Also for the second year in a row, Comcast earned the lowest two Read More …

H-E-B and Credit Unions Top 2015 Temkin Trust Ratings

We just published the 2015 Temkin Trust Ratings, the fifth year of the ratings. It uses feedback from 10,000 U.S. consumers to rate the level of trust that consumers have with 293 organizations across 20 industries (see .pdf with full list). You can see all of the company data on the Temkin Ratings website. Download dataset for $295 (see sample file) H-E-B and credit unions took the top spots in the 2015 Temkin Trust Ratings, while USAA took three of the next four spots for its banking, insurance, and credit card business. Publix rounds out the top six firms. Comcast earned the lowest two spots in the Temkin Trust Ratings for its TV service and Read More …

USAA and Credit Unions Lead Banks in Customer Experience

We recently released the 2015 Temkin Experience Ratings that ranks the customer experience of 293 companies across 20 industries based on a survey of 10,000 U.S. consumers. USAA and credit unions tied for the top spot, each with a rating of 81%, putting them in 8th place overall out of 293 companies across 20 industries. Credit unions (which is a rating for a group of credit unions, not one company) have earned the highest ranking for banks over the past four years. USAA has been hovering around the top of the banking list since 2011, but this is the first Read More …

Regions and Credit Unions Lead Banking Industry in 2014 Temkin Experience Ratings

We recently released the 2014 Temkin Experience Ratings that ranks the customer experience of 268 companies across 19 industries based on a survey of 10,000 U.S. consumers. Regions and credit unions earned an 81% rating—only narrowly overtaking USAA and TD Bank—and tied for 8th place overall out of 268 companies across 19 industries. Credit unions scored the highest rating in both 2012 and 2013, while Regions earned the top spot in 2011. At the other end of the spectrum, HSBC received the lowest rating for any of the 16 banks for the second year in a row, landing in 226th place Read More …

Credit Unions and USAA Lead Banks in 2013 Temkin Experience Ratings

We recently released the 2013 Temkin Experience Ratings that ranks the customer experience of 246 companies across 19 industries based on a survey of 10,000 U.S. consumers. Here are highlights from the banking industry: The banking industry has been steadily improving over the last three years, from an average Temkin Experience Rating of 62.0% in 2011 to 68.6% this year. Banks also made the largest improvement of any industry between 2012 and 2013, gaining 3.4 percentage points. Credit unions take first place in the industry for the second straight year with a rating of 79%. USAA earned the second spot Read More …

USAA and Credit Unions Are Highly Recommended

The 2012 Temkin Loyalty Ratings quantifies the loyalty of consumers to 206 companies across 18 industries based on a survey of 10,000 U.S. consumers. I examined one of the three elements of loyalty in the ratings: the likelihood to recommend. When comparing company ratings to industry averages, it turns out that USAA earns the top two spots. In credit cards and banking, USAA’s Temkin Loyalty Ratings are at least 25 percentage points above their industry averages. Credit unions are next in line, 24 points above the banking average. At the bottom of the list is Charter Communications, 23 points below the TV service industry average. RadioShack and Citibank also fall far behind their industries. Read More …

Credit Unions and PNC Deliver Best Customer Experience in Banking

This post examines the 16 banks included in the 2012 Temkin Experience Ratings. Credit unions, which are ranked third across all industries, as a group were the only bank to receive an excellent rating. Four banks earned “good” ratings: PNC, TD Bank, USAA, and ING Direct. Eight banks received “okay” ratings while three banks received “poor” ratings: Citibank, Bank of America, and HSBC. The banking industry received the fifth highest average customer experience rating, falling behind grocery chains, fast food restaurants, retailers, and parcel delivery services. Compared with 2011, banks increased their ratings by three percentage points, an improvement that was only outdone Read More …

Credit Unions And SunTrust Lead Banks In Customer Experience

Forrester’s 2010 Customer Experience Index (CxPi) ranks 133 firms across 14 industries. I recently published the bank analysis which examines the 13 banks in the CxPi. Here are the overall results: As a group, the banks were in the middle of the pack of industries with an “okay” average rating of 66%. But banks had the largest drop of any industry, down five percentage points from the 2008 CxPi. Here are some insights from looking at the banking results: The best bank customer experience. Credit unions and SunTrust Bank up well above the other 11 banks on the list. The worst bank customer experience. At the bottom of the list, three banks ended up with “very poor” ratings: Washington Mutual, Bank Read More …

Vanguard And Credit Unions Top Investment Experiences

In Forrester’s 2008 Customer Experience Index (CxPi), we ranked 113 companies across 12 industries. I recently published a snapshot of the investment industry looking at the results from the seven firms on the list (Charles Schwab, credit unions, Edward Jones, Fidelity, Merrill Lynch, Vanguard, and “other” full service brokers). Here’s some of what we found: Experiences are “okay.” As a group, the seven firms ended up with an “okay” rating of 69%; a drop of three percentage points from the 2007 CxPi results. Vanguard and credit unions lead the pack. With the only “good” scores on the list, Vanguard and credit unions ended up with a rating of 77%. Not only were these Read More …

Phone Satisfaction Snapshot- USAA, Credit Unions, and Amazon.com Top The List

We asked more than 4,500 US consumers about their satisfaction with experiences across 12 different industries: airlines, banks, cell phone service providers, credit card providers, hotels, insurance firms, Internet service providers, investment firms, medical insurance companies, PC manufacturers, retailers, and TV service providers. Our analysis looked at phone, store/branch, and Web interactions. I’ll start with some highlights of consumer feedback on phone interactions. The analysis looked at satisfaction rates at an industry level and changes from last year’s results, examined satisfaction for individual companies, and compared responses across generations of consumers. Highest industry satisfaction: Insurance providers (84%) Lowest industry satisfaction: TV service providers (60%) Most improved Read More …

The Easiest Firms To Work With: Credit Unions And Borders

In previous posts, I looked at two elements of Forrester’s Customer Experience Index: enjoyability and usefulness. We used this index to rank the customer experience delivered by 112 firms across 9 industries. Now let’s look at how organizations were ranked in the final component of that index: ease of use. Consumers felt that these organization were the easiest to work with: Not all of the 9 industries were represented in the top 15 above. Here are the firms that came out on the top of other industries (along with their overall ranking): Investment firms: Edward Jones (21st overall) TV service providers: DirecTV (59th overall) Internet service porviders: Earthlink/MindSpring (43rd overall) Medical insurers: Read More …

How Loyal Are Customers? Good News For Credit Unions, Bad News For Sprint

I recently analyzed consumer loyalty patterns across 9 industries (banks, credit card providers, health plans, insurance firms, Internet service providers, investment firms, retailers, TV service providers, and wireless carriers) in the report The Strength Of Customer Relationships. Here are a few of the findings: Retailers have the most loyal customers Banks have the least loyal customers We also looked at 112 large organizations relative to their industry averages and found that customers were the: Least likely to switch away from credit unions, Medicare, USAA, Virgin Mobile, and American Express Most likely to switch away from Sprint/Nextel, Circuit City, Gap, National City Bank, and Radio Shack Most Read More …

2018 Temkin Emotion Ratings: Wegmans Earns Top Spot

Emotion is one of the three components of a customer’s experience (along with success and effort), so it’s a fundamental element for companies to track. In this post, I examine the eight annual Temkin Emotion Ratings for U.S. companies. It’s one of the components of the overall Temkin Experience Ratings, the open standard CX metric. In January 2018, we surveyed 10,000 U.S. consumers about their experiences with companies. We used that feedback to calculate the Temkin Emotion Ratings for 318 companies across 20 industries (see full list of companies). ***Detailed data is included in the overall Temkin Experience Ratings dataset*** Here are Read More …

2018 Temkin Trust Ratings (U.S.): USAA and Wegmans On Top

Temkin Group announces the release of the 2018 Temkin Trust Ratings (TTR). Based on a study of 10,000 U.S consumers, the ratings benchmarks the level of trust that consumers have with 318 companies across 20 industries. USAA’s (TTR of 81%) banking business earned the top spot, followed by Wegmans (79%), credit unions (77%), H-E-B (77%), and USAA’s credit card and insurance businesses (75%). Four TV/Internet service providers earned the lowest TTR: Comcast (22%), Charter Spectrum (25%), Optimum (29%), and Cox Communications (29%). Here’s a full list of all of the companies in the TTR. You can see all of the high-level results on Read More …