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From Champions to Churners A snapshot of UK consumers in 2013 Claire Richardson, VP, Verint Systems @ yahoo_claire @ v

From Champions to Churners A snapshot of UK consumers in 2013 Claire Richardson, VP, Verint Systems @ yahoo_claire @ verint. Agenda. About the study Key findings Key findings from the survey Action points. F irst… an introduction to Verint.

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From Champions to Churners A snapshot of UK consumers in 2013 Claire Richardson, VP, Verint Systems @ yahoo_claire @ v

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  1. From Champions to Churners A snapshot of UK consumers in 2013 Claire Richardson, VP, Verint Systems @yahoo_claire@verint

  2. Agenda • About the study • Key findings • Key findings from the survey • Action points

  3. First… an introduction to Verint • Global leader in Actionable Intelligence solutions and value-added services • Member of the Russell 3000 Index • 3,200 dedicated Verint professionals • More than 30 Verint offices worldwide plus a global partner network

  4. Key Findings

  5. Consumers sayare generally happy with the service they receive… Significantly more consumers disagree for utilities providers, than any other service provider/retailer

  6. And churn is fairly rare How long have customers been with current providers? Significantly more consumers have been with their insurance provider for less than a year, than any other provider/retailer Significantly more consumers have been with their bank or supermarket for more than three years, than any other provider/retailer

  7. A nation of complainers? Hardly! Returning to the list of providers below, please tell us how frequently, if at all, you have complained to your current provider. If you use more than one, please think about the service provider, supermarket or retailer that you used most recently. Significantly more consumers have never complained to their CC provider, than any other provider/retailer Significantly more consumers have complained several times a year to their supermarket, than any other provider/retailer

  8. Customers do not feel valued

  9. … and here’s why

  10. Hidden beneath the headline trends • ‘Brand Champions’ • 7% of those surveyed in UK • ‘Silent Likers’ • 5% of those surveyed in UK • ‘Fence Sitters’ • 21%of those surveyed in UK • ‘Churners’ • Just 6% of those surveyed in UK

  11. Brand Champions • Are happy (or very happy) with service • Stay with same providers 3 years or more • 3-4 times more likely to talk to friends and family about good service than bad • Believe strongly in the power of social media – 51% believe social media holds brands to account • Remember the ‘thank yous’ from brands. More likely than other groups to talk or post about them • 90% agree the service providers / retailers they use fit their needs and lifestyle • 53% feel valued as a customer

  12. Silent Likers • Happy with service • Have not talked to friends and family about their experiences • Rarely, if ever complain- 65% of Silent Likers have never complained • Only 26% agree service providers and retailers take account of their views • Least likely to have received vouchers or ‘thank you’ offers • But over 50% believe their service providers fit their needs and lifestyle

  13. Fence-Sitters • Ambivalent about service • Typically don’t complain or share experiences, good or bad • When they do, they are twice as likely to discuss bad experiences than good ones. • After Silent Likers, they are second least likely to receive thank you offers • Fence-Sitters exhibit good longevity – typically 3 years +

  14. Churners • 47% have been with current providers for less than a year • About as likely to post about good experiences as bad ones • 90% claim to have received ‘thank you’ rewards • 30% believe their views are acted on by brands

  15. What businesses are doing

  16. Key take-aways

  17. Thank You!@yahoo_claire@verint

  18. The 1 in 10 Campaign: Customer Behaviour Survey FindingsAdditional slides and charts

  19. A quarter of consumers have changed insurance providers because they found cheaper elsewhere Please look again at the service providers/retailers below, and tick which, if any, of the following activities you have done in the last year. 14% DE Lower than any other socio-economic group 35% aged 35-44 VS 15% aged 16-24; 18% aged 55-75 Base: all GB adults aged 16-75 interviewed 3-5 September 2013 who have used each provider: insurance provider (460)

  20. For mobile phone providers, almost a quarter of consumers have told friends and family about good service… Please look again at the service providers/retailers below, and tick which, if any, of the following activities you have done in the last year. 21% aged 16-24; 30% aged 24-34; 23% aged 35-44 VS 11% aged 55-75 Base: all GB adults aged 16-75 interviewed 3-5 September 2013 who have used each provider: mobile telephone provider (492)

  21. …as they have for High Street retailers Please look again at the service providers/retailers below, and tick which, if any, of the following activities you have done in the last year. 27% aged 25-34 and 35-44 VS 12% aged 55-75 16% aged 35-44 VS 5% aged 45-54; 7% aged 55-75 Base: all GB adults aged 16-75 interviewed 3-5 September 2013 who have used each provider: high street retailers (495)

  22. Similarly proportions of consumers have told friends and family about good and bad broadband experience… Please look again at the service providers/retailers below, and tick which, if any, of the following activities you have done in the last year. 16% aged 25-34 VS 4% aged 16-24; 9% aged 35-44; 6% aged 45-54 Base: all GB adults aged 16-75 interviewed 3-5 September 2013 who have used each provider: home broadband provider (482)

  23. …and the same can be said of telephone/landline providers…. Please look again at the service providers/retailers below, and tick which, if any, of the following activities you have done in the last year. 22% aged 25-34; 29% aged 35-44; 19% aged 45-54 VS 7% aged 16-24 Base: all GB adults aged 16-75 interviewed 3-5 September 2013 who have used each provider: home telephone/landline provider (479)

  24. …as well as utilities Please look again at the service providers/retailers below, and tick which, if any, of the following activities you have done in the last year. 26% aged 25-34 VS 13% aged 55-75 Base: all GB adults aged 16-75 interviewed 3-5 September 2013 who have used each provider: utilities providers (494)

  25. A fifth have told friends and family about good service from their bank – but almost as many have done the same for bad service Please look again at the service providers/retailers below, and tick which, if any, of the following activities you have done in the last year. 7% aged 25-34 VS 0% aged 45-54 and 55-75 Base: all GB adults aged 16-75 interviewed 3-5 September 2013 who have used each provider: bank (498)

  26. Incentivisation and switching for cheaper are as common as telling friends/family about good / bad service for credit card providers Please look again at the service providers/retailers below, and tick which, if any, of the following activities you have done in the last year. 20% aged 25-34 VS 6% aged 45-54 3% men VS 0% women Base: all GB adults aged 16-75 interviewed 3-5 September 2013 who have used each provider: credit card provider (345)

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