Nothing to be Gained from a Stiff Upper Lip, Survey Finds

Tue Jan 28, 2014 

WEYBRIDGE, 28 January 2014 —New research from customer service experts, Verint® Systems Inc.(NASDAQ: VRNT) and the Customer Contact Association (CCA), revealed that half of GB consumers don’t ever complain about services received from brands, and 23% don’t feel valued as a customer. Utility companies were at the bottom of the list when it came to service satisfaction levels, with 42% agreeing that they are happy with service levels, compared to supermarkets (78%), which led the charge.

 

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Press Release

Nothing to be Gained from a Stiff Upper Lip, Survey Finds

Tue Jan 28, 2014

Press Release

  • Survey of 1,000 UK consumers reveals Brits aren’t getting the most value from brands
  • The British stiff upper lip continues: 23% don’t feel valued as customers; 11% are unhappy with service received; but 52% have never complained in the last 3 years
  • Research calls for consumers to become more engaged and reap the rewards by becoming “Brand Champions”

 

WEYBRIDGE, 28 January 2014 —New research from customer service experts, Verint® Systems Inc.(NASDAQ: VRNT) and the Customer Contact Association (CCA), revealed that half of GB consumers don’t ever complain about services received from brands, and 23% don’t feel valued as a customer. Utility companies were at the bottom of the list when it came to service satisfaction levels, with 42% agreeing that they are happy with service levels, compared to supermarkets (78%), which led the charge.

The research of approximately 1,000 GB consumers carried out by Ipsos MORI* for Verint and the CCA explored customer satisfaction and engagement experiences with service providers and uncovered that one in three consumers (33%) believe in the power of social media, stating that it can hold brands accountable like never before. Just 16% do not agree that social media has the power to hold brands accountable.

However, organisations are trying to step up the listening stakes, with 95% of contact centre and customers experience managers** agreeing that they gather consumer insights; 68% claiming they provide direct feedback to customers to show they are listening and taking action; and with almost half (45%) looking to offer more one-off benefits to consumers.

The research also revealed there is nothing to be gained from the British stiff upper lip and called for consumers to become more engaged in order to reap the rewards. A small group of consumers (13%) demonstrated Brand Champion characteristics, with a further 30% on the cusp as Silent Likers. The breakdown was as follows***:

  • 13% are Brand Champions:customers that will sing a brand’s praises, remain loyal over a long period of time and be most likely to get rewarded in return.
  • 30% are Silent Likers: customers that may be loyal and happy, but are the least likely to talk about their experiences and engage with brands.
  • 16% are Fence-Sitters: customers who appear to be ambivalent about the service they receive; they don’t engage with brands nor share their experiences.
  • 24% are Churners: those that will constantly be on the hunt for a better deal and won’t hesitate to leave if they are dissatisfied with services.

How to become a Brand Champion:

  • Spread the word. Organisations say customers who recommend their service to family and friends are just as valuable as those that spend more, so by spreading the word brands are much more likely to reward them in future.
  • Give direct feedback – the good and the bad. Something as simple as calling the contact centre can provide customers with benefits, as 32% of organisations say their customer service agents are empowered to make decisions about offering incentives and changes to service plans.
  • Don’t flit between service providers. If a customer is not happy, he/she should tell the provider. Half of organisations rate their good customers as those that they’ve had longer relationships with, so they’ll work harder to keep such customers loyal.
  • Be vocal online. Almost a third (31.5%) of organisations say they love those who will advocate their brand on social media, and they have teams that monitor these channels for exactly this reason.

Claire Richardson, VP at Verint, notes, “Our survey finds that service is a two-way street. Our message to consumers is clear: speak out, as brands are willing to reward if you do! In an age of loyalty cards and incentives, the customer voice plays an increasingly important role to help shape the service of tomorrow.”

How the UK fares compared to the rest of Europe and the U.S.

Across Europe, it seems the Russians have got it right, with 21% of respondents reaping the rewards as Brand Champions. Over half (52%) are willing to tell friends and family when they receive a benefit or reward from a service provider. They’re also ahead in thanking the provider directly (22%) and lead the way on social media, with 12% agreeing to discuss service benefits on social media.

Meanwhile, the Germans take the direct route with 75% saying they prefer to provide feedback straight to brands, and only in Poland will consumers be more open to future offers after receiving a benefit. Across the pond survey results indicate that Americans are most loyal to their service providers, with more than half of U.S. consumers (65%) being a customer for three years or more.

Comparatively, while 13% are Brand Champions, Brits seem much harder to please. They are the last to admit they’ll tell family and friends about rewards (28%), and just 14% would recommend the service to others. Undoubtedly, it’s time UK consumers follow the lead from their European counterparts and learn to play the customer service game.

For more information on the study’s global findings, click here.

ENDS

About the Research

Consumer Research:

*The research was conducted on i:omnibus, Ipsos MORI’s online panel omnibus, in two waves. In wave 1, a nationally representative sample of 1,000 British adults aged 16-75 was interviewed over 3-5 September. In wave 2, a nationally representative sample of 1,002 British adults aged 16-75 was interviewed over 26-28 November 2013. Questions focusing on the industries specified below received c500 responses per wave (i.e. c1,000 in total). Questions without industry focus received 1,000 responses in the first wave only. The survey data has been weighted by age, gender and region to ensure it represents a national mix of respondents.

In other countries, in wave 1, 1,000 US adults aged 18-75 were interviewed 17-20 September 2013; 1,004 German adults aged 16-70, 1,005 Polish adults aged 16-60 and 1,002 Russian adults aged 16-60 were interviewed 20-23th September 2013. In wave 2, 1,000 German adults, 1,001 Polish adults, 1,000 Russian adults and 1,000 US adults were conducted 26-28 November 2013. In each case, nationally representative samples were drawn. As for Great Britain, questions focusing on the industries specified below received c.500 responses per wave (i.e. c1,000 in total). Questions without industry focus received 1,000 responses in the first wave only. The survey data has been weighted by age, gender and region to ensure it represents a national mix of respondents.

The research explores attitudes towards services provided by organisations in nine sectors (mobile phone, home telephone/landline, home broadband; banks; credit card providers; insurance; high street retailers; supermarkets and utilities).

Business Research:

** The research was conducted via Verint and the Contact Centre Association, among 143 contact centre professionals in the UK during September and October 2013. Positions of respondents varied from director to management, middle management, team leaders and team members. The research explores focus on businesses’ attention on customer retention versus acquisition, attitudes towards customer loyalty, customer communication channels and customer insight strategies.

***Additional analysis and segmentation of the research was carried out by Brands2Life to formulate the consumer groups during December 2013.

About Verint Enterprise Intelligence Solutions

Verint® Enterprise Intelligence Solutions™ help organisations of all sizes capture and analyse customer interactions, sentiments and trends across multiple channels, improve performance and optimise the customer experience. The solution portfolio includes the Impact 360® Workforce Optimisation™ suite and Voice of the Customer software, which serve as strategic enterprise assets for increasing customer satisfaction and loyalty, enhancing products and services, reducing operating costs and driving revenue.

About Verint Systems

Verint® (NASDAQ: VRNT) is a global leader in Actionable Intelligence® solutions. Its portfolio of Enterprise Intelligence Solutions™ and Security Intelligence Solutions™ helps organisations Make Big Data Actionable™ through the ability to capture, analyse and act on large volumes of rich, complex and often underused information sources—such as voice, video and unstructured text. With Verint solutions and value-added services, organisations of all sizes can make more timely and effective decisions. Today, more than 10,000 organisations in over 150 countries, including over 80 percent of the Fortune 100, count on Verint solutions to improve enterprise performance and make the world a safer place. Headquartered in NY, Verint has offices worldwide and an extensive global partner network. Learn more at www.verint.com.

This press release contains forward-looking statements, including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management's expectations that involve a number of risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2013 and our Quarterly Report on Form 10-Q for the quarter ended October 31, 2013 and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, the Company assumes no obligation to update or revise them or to provide reasons why actual results may differ.

VERINT, ACTIONABLE INTELLIGENCE, MAKE BIG DATA ACTIONABLE, CUSTOMER-INSPIRED EXCELLENCE, INTELLIGENCE IN ACTION, IMPACT 360, WITNESS, VERINT VERIFIED, VOVICI, GMT, AUDIOLOG, ENTERPRISE INTELLIGENCE SOLUTIONS, SECURITY INTELLIGENCE SOLUTIONS, VOICE OF THE CUSTOMER ANALYTICS, NEXTIVA, EDGEVR, RELIANT, VANTAGE, STAR-GATE, ENGAGE, CYBERVISION, FOCALINFO, SUNTECH, and VIGIA are trademarks or registered trademarks of Verint Systems Inc. or its subsidiaries. Other trademarks mentioned are the property of their respective owners.

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