Facebook Fails in Customer Satisfaction Along with McDonald's, MTV, Kia; Amazon Tops 100 Brands
ANN ARBOR (WWJ) -- The customer experience analytics provider ForeSee Thursday released the first ForeSee Experience Index, a study that offers the most comprehensive picture to-date of how today's customer experiences with the top 100 brands across seven industries as reported by Interbrand, are predictive of companies' future business success.
The FXI quantifies customer experience by calculating satisfaction scores for each of the 100 brands on a 100-point scale, as well as three key measurements that are predictive of future behavior -- Retention, Upsell and Recommend. Some 75,000 surveys from customers across seven industries were gathered for this report during the first quarter through the third quarter of 2013 and analyzed using the ForeSee methodology.
The report features data that is predictive of future customer behaviors for American Express, Apple, Amazon, Coca-Cola, Cisco, Facebook, Gillette, Honda, Google, Microsoft, Morgan Stanley, Oracle and more. A chart of the 100 companies with each of their four corresponding Satisfaction, Retention, Upsell and Recommend scores can be seen below.
Facebook is the lowest scoring brand in the overall index (69). The company seems to have lost the trust of the social media community and can use customer experience data to help identify what customers want and expect in order to improve overall satisfaction.
While Amazon dominates retail industry at the brand level (87), Nordstrom (86), Coach (85), Costco (84) and Tiffany (84) are statistically within reach of the leader.
McDonald's (72) leaves room for improvement with measurement of how it is falling short in satisfying its customers.
Many top brands have satisfaction advantages over leading competitors: The FXI contains numerous examples of customers clearly favoring one brand over the brand of a leading competitor. Highlights include:
* Automotive: Honda (85) leads Kia (78) by seven points.
* Financial Services: American Express (82) leads MasterCard (76) by six points.
* Retail & Apparel: Amazon (87), the company that has the highest customer satisfaction score with its brand across all industries measured in the FXI, leads its competitor Walmart (72) by fifteen points.
* Technology & Electronics: Google (81) leads Facebook (69) by eleven points. And, Apple (83) leads Microsoft (78) by five points.
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ndustry comparison shows highest customer satisfaction in Automotive and Consumer Package Goods (CPG): ForeSee found that the Automotive and CPG industries score highest (tied at 82) followed by Retail & Apparel (81) and Technology & Electronics (80). The Financial Services category registers at the bottom of the scale with an average score of 75.
Financial Services as a category has the largest gap between the highest and lowest scoring brands (American Express is 82 and Santander is 65), suggesting that there is much work to be done in offering the experience that customers expect from companies in this category. And for an industry that lives and dies by upselling products and services, the data shows that the industry is not doing so well.
Customer experience is predictive of future business success: When comparing the future behaviors of highly satisfied customers (with satisfaction scores of 80 or higher) to less satisfied customers (with satisfaction scores of 69 or less), ForeSee found that highly satisfied customers report being 75 percent more likely to prefer the brand overall; 60 percent more likely to do business with the company; 83 percent more likely to purchase more; 63 percent more likely to purchase from the brand the next time they are in the market for a similar product or products; 77 percent more likely to give the brand a positive recommendation to others; and 76 percent more likely to trust the brand in general.
More at www.ForeSeeResults.com
