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CXMB Industry Insights: Financial Services – Select Findings [INFOGRAPHIC]

Together with research partner COPC Inc., and report sponsor VXI Global Solutions, we are excited to share with you the latest installment of our CXMB Industry Insights series. CXMB Industry Insights: Financial Services marks the third release in the series, following reports focused on travel and hospitality and retail.

The report is aimed at providing insights into consumer opinions and behaviors, specific to the financial services industry. Topics in this report include customer care experiences, channel use, customer effort, quality of care, privacy, and a comparison on U.S. and Canadian customers.

The infographic below highlights a few key findings, but you can also download the full complimentary report here. 

COPC Inc. and Execs In The Know Publish Customer Experience Research for Financial Services

Nearly 57% of surveyed customers reported moving some or all of their business as a result of a poor customer care experience

WINTER PARK, FL — (May 22, 2018) — COPC Inc., a global consulting firm that helps companies improve operations to transform the customer experience, together with Execs In The Know, a global network of customer experience professionals, announce the results from their first financial services industry survey, CXMB Industry Insights: Financial Services. This report was sponsored by VXI Global, a customer care, sales and technical support services company. A key research finding is that nearly 57% of surveyed customers reported moving some or all of their business as a result of a poor customer care experience with a financial institution. When asked what could be done differently, customers referred to ease of use, accountability, and access to a live person. To learn more about this and other findings, download the complimentary report.

CXMB Industry Insights: Financial Services provides research about consumer opinions and behaviors specific to the financial services industry in the United States and Canada. The survey confirmed that customer expectations are rapidly changing and that financial institutions need to focus not just on technology solutions but rethink the entire customer interaction—from the customer’s perspective. Continue reading

COPC Inc. and Execs In The Know Publish Retail Customer Experience Research Insights

WINTER PARK, FL — (May 24, 2017) — COPC Inc., a global consulting firm that helps companies improve operations to transform the customer experience, together with Execs In The Know, a global network of customer experience professionals, announce the results from their first retail industry survey, CXMB Industry Insights: Retail. This retail report was sponsored by Gladly, the customer service platform for the 21st century consumer. A key research finding is that almost half of both online and in-store shoppers think retail brands should focus improvement efforts on the customer care experience instead of other types of experiences, such as the shopping or purchase experience. To learn more about this and other findings, download the complimentary report.

CXMB Industry Insights: Retail is aimed at providing insights into consumer opinions and behaviors, specific to the retail industry. Topics in this report include comparisons between online and in-store shoppers in the areas of pre-purchase research, shopping, customer care, drivers of mobile device shoppers, and the multi-channel experience.

Findings reveal differences and similarities between online and in-store shoppers when it comes to the customer journey. Among the most popular methods of issue resolution — in-person, phone and email — online shoppers prefer to resolve issues via email, while in-store shoppers strongly prefer to resolve issues in person. However, both groups had low preference for self-serve solutions, including self-help and automated tools.

Additionally, responses between online and in-store shoppers are strikingly consistent when respondents describe what is most important to them when interacting with a retailer to resolve an issue. Customers want agents who provide clear communication, listen patiently, understand the issue, express empathy, and are empowered to break away from the script to get issues resolved. More information can be found on this infographic.  

Survey Insights:

– In the event of a customer care issue, 68 percent of online shoppers and 75 percent of in-store shoppers would rather interact with a human versus a self-help system to resolve the issue.

– Among consumers who frequently shop from their mobile device, 44 percent would choose email as their preferred communication method with a brand compared to just six percent who would choose a phone call as their preferred communication method.

– Thirty-five percent of survey respondents think retail companies do a better job of providing a positive customer experience compared to other industries.

“We know retail brands have a huge opportunity to differentiate themselves by providing an exceptional customer experience. We conducted this survey to show real customer needs and to provide actionable data that all retailers should consider to improve customer satisfaction and increase loyalty,” said Kathleen Jezierski, chief operating officer, COPC Inc.

CXMB Industry Insights: Retail is the second in a series of industry-specific reports and is an extension of the Customer Experience Management Benchmark (CXMB) Series, also published in partnership between COPC Inc. and Execs In The Know. The first industry-specific report examined travel and hospitality and is available here.

“CXMB Industry Insights allows us to dive deeper into various industries and provide relevant insights that our community members in each vertical are seeking,” said Chad McDaniel, president, Execs In The Know. “Our retail survey offers information about consumer perceptions, expectations and behaviors so that our community can have a better understanding of the customer landscape in online and brick-and-mortar retail.”

For more information about the findings of this retail research or the CXMB Industry Insights survey series, contact Judi Brenstein, vice president, COPC Inc., at jbrenstein@copc.com.

 About COPC Inc.

COPC Inc. is an innovative global leader that empowers organizations to manage complex customer journeys.  The company created the COPC Customer Experience (CX) Standard and provides consulting, training and certification for operations that support the customer experience. Founded in 1996, COPC Inc. began by helping call centers improve their performance.  Today, the company works with leading brands worldwide to optimize key customer touchpoints and deliver a seamless experience across channels. COPC Inc. is privately held with headquarters in Winter Park, FL, U.S. and has operations in Europe, Middle East, Africa, Asia Pacific, Latin America, India and Japan. To learn more about COPC Inc., visit www.copc.com.

About Execs In The Know

For over 15 years, Execs In The Know has built a reputation of excellence in the Customer Management Industry and a worldwide community of over 50,000 Customer Experience Professionals. Execs In The Know connects people to engaging industry content, thought leadership, current trends, peer-to-peer collaboration, networking and industry employment opportunities. Examples of this can be seen at their Customer Response Summit events, roadshows, webinars, workshops, Blog Talk Radio segments, Industry Benchmarking Series, blogs, thought papers and social communities. For more information, visit www.execsintheknow.com.

CXMB Industry Insights: Travel & Hospitality Survey Results [INFOGRAPHIC]

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To hear further discussion about CXMB Industry Insights: Travel and Hospitality, join Execs In The Know, COPC Inc. and guest speakers from Choice Hotels and Marriott International next Tuesday, December 6, at 1 p.m. ET for a webinar. To register, visit http://ow.ly/iGaO306Bmsy.

COPC Inc. and Execs In The Know Publish Travel and Hospitality Findings as Part of New Industry-Specific Customer Experience Research

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PHOENIX, AZ — (November 21, 2016) — Execs In The Know, a global network of customer experience professionals, together with COPC Inc., announce the results from their first travel industry survey, CXMB Industry Insights: Travel & Hospitality. The survey focused on the customer care experience, the purchase experience, and customer loyalty.

The findings show that both leisure and business travelers are using multiple customer service channels to resolve issues. However, customer satisfaction is higher when travelers self-select a channel that they want to use rather than being forced into one. Furthermore, a consistent experience across channels is so important among travelers that it ranks higher than competitive pricing and a personalized experience.

Survey participants were U.S.-based individuals traveling for business only, leisure only or both. Here are some key travel and hospitality industry findings for both leisure and business travelers. See the infographic for more details.

– Business and leisure travelers still prefer to talk to someone in person or on the phone to resolve their issues. Both groups were equally open to using new channels of communications — social media, text, mobile chat and smartphone app — at 27 percent for business travelers and 30 percent for leisure travelers.

– When multichannel communication is a choice rather than a forced approach for issue resolution, customer satisfaction increases. Conversely, when forced into a multichannel approach to resolve an issue, both business and leisure travelers stated a dissatisfaction rate at nearly 50 percent.

– Both business and leisure travelers consider a consistent customer experience across communication channels significantly more important than competitive pricing. In particular, 60 percent of leisure travelers stated a consistent experience was important.

“We are pleased to provide the results of this survey, showing how a multichannel approach to meeting customer needs can affect the traveler’s experience. For companies focused on providing excellent customer care, our findings reveal a choice of communication options is the key to customer satisfaction. Travel and hospitality brands should not only be present in the channels their customers prefer, but also need to be capable of resolving their issues through these channels,” said Kathleen Jezierski, chief operating officer, COPC Inc.

“CXMB Industry Insights allows us to dive deeper into different industry segments and provide the important insights that our community members in each vertical are looking for,” said Chad McDaniel, president, Execs In The Know. “Our findings provide a better understanding of the customer landscape in the travel and hospitality sectors, and hopefully will spark some ideas for brands to improve the customer experience and enhance overall customer satisfaction.”

This travel survey is the first in the series of industry-specific research, and is part of the larger Customer Experience Management Benchmark (CXMB) Series, also published in partnership between COPC Inc. and Execs In The Know.

Download http://ow.ly/OxT3306onPG, or sign up to receive future survey results produced by COPC Inc. and Execs In The Know. Other industry-specific reports will follow in early 2017.

To hear a further discussion about CXMB Industry Insights: Travel and Hospitality, join COPC Inc. and Execs In The Know on Tuesday, December 6,at 1 p.m. ET for a webinar. To register, visit http://ow.ly/yYyY306onpY .

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About Execs In The Know

For over 15 years, Execs In The Know has built a reputation of excellence in the Customer Management Industry and a worldwide community of over 50,000 Customer Experience Professionals. Execs In The Know connects people to engaging industry content, thought leadership, current trends, peer-to-peer collaboration, networking and industry employment opportunities. Examples of this can be seen at their Customer Response Summit events, roadshows, webinars, workshops, Blog Talk Radio segments, Industry Benchmarking Series, blogs, thought papers and social communities. For more information visit www.execsintheknow.com.

About COPC Inc.

COPC Inc. is an innovative global leader that empowers organizations to manage complex customer journeys. The company created the COPC Customer Experience (CX) Standard and provides consulting, training and certification for operations that support the customer experience. Founded in 1996, COPC Inc. began by helping call centers improve their performance. Today, the company works with leading brands worldwide to optimize key customer touchpoints and deliver a seamless experience across channels. COPC Inc. is privately held with headquarters in Winter Park, Florida, U.S. and has operations in Europe, Middle East, Africa, Asia Pacific, Latin America, India and Japan. www.copc.com