U.S. consumers – especially millennials – say
businesses are meeting or exceeding their service expectations
Social media vent sessions may give the impression that the
state of customer service is suffering. Not so fast, according to
the 2017 Customer Service Barometer. The study, fielded by
American Express (NYSE: AXP), shows U.S. consumers are happier
than ever with the service companies provide.
This press release features multimedia. View
the full release here:
http://www.businesswire.com/news/home/20171215005416/en/
Eight in 10 Americans (81%) report that businesses are meeting
or exceeding their expectations for service, compared to 67 percent
in 2014. In fact, 40 percent of consumers say businesses have
increased their focus and attention on service, a significant
increase in just three years (up from 29% in 2014).
“More companies are realizing that delivering great care is not
just the right thing to do; it also makes great business sense.
Seven in 10 U.S. consumers say they’ve spent more money to do
business with a company that delivers great service,” said Raymond
Joabar, Executive Vice President of American Express’ servicing
organization. “Service is an increasingly important competitive
advantage for companies, both large and small, that make doing
business easy and put their customers’ needs first.”
Digital servicing options are helping to drive this uptick in
servicing satisfaction, as is improved person-to-person care. More
than two thirds of those surveyed (68%) said that a pleasant
representative was key to their recent positive service
experiences, and 62 percent said that a representative’s knowledge
or resourcefulness was key.
Americans continue to reward companies that get service right.
US consumers say they’re willing to spend 17 percent more to do
business with companies that deliver excellent service, up from 14
percent in 2014. As a group, Millennials are willing to spend the
most for great care (21% additional), followed by men (19%).
But there’s another side to that coin, too: poor service is
costing companies. More than half of Americans have scrapped a
planned purchase or transaction because of bad service, and 33
percent say they’ll consider switching companies after just a
single instance of poor service. The stakes remain high for getting
service right.
Millennials Share the “Likes”Millennials are particularly
happy with the service they’re receiving from businesses.
Eighty-four percent say that businesses are meeting or exceeding
their service expectations, significantly more than older Americans
(79%).
Millennials are also the only generation that tells more friends
and family about instances of good service than bad ones, bucking
an established trend in how Americans talk about service. As in
previous years, Americans across the board report telling more
people about poor service (15 people on average) than about good
experiences (11). Millennials, though, tell an average of 17 people
when they get great care, compared to the 15 they tell about poor
experiences.
Men are especially chatty when it comes to service, telling
twice as many people as women both about their poor experiences (21
compared to 10) and good ones (15 compared to 7).
How May I Help You?There is a growing preference for
self-service and digital options on simpler inquiries, specifically
for online chat and mobile apps.
More than six in 10 U.S. consumers say that their go-to channel
for simple inquiries is a digital self-serve tool such as a website
(24%), mobile app (14%), voice response system (13%) or online chat
(12%). But, as the complexity of the issue increases, such as with
payment disputes or complaints, customers are more likely to seek
out a face-to-face interaction (23%) or a real person on the phone
(40%).
More people than ever are also using social media to get help
from businesses. In the past year, 35 percent reported reaching out
in social channels, up significantly from the 2014 survey (23%) and
double the percentage from 2012 (17%). Of those who have used
social media for a customer service concern, 84 percent say they
have received a response or resolution, up significantly from 65%
in 2014.
Key Takeaways for BusinessesThe study offers key
takeaways for businesses looking to improve their service:
- Deliver service on the customer’s
timeline. As companies improve the service they provide,
customers want them to focus on taking care of their needs quickly
(40%). The future of service belongs to those who deliver quick,
convenient and personalized service in the customer’s channel of
choice. This could mean enabling customers to find answers
themselves through digital options as well as making it easier to
connect with a knowledgeable professional.
- Earn the advocacy of customers.
Excellent service continues to be a way for businesses to unleash
positive word of mouth. This is especially true for Millennials, so
companies should make sure they can take care of younger Americans
the way they want to be served. For example, Millennials are twice
as likely as the general population to prefer self-service for
simple inquiries.
- Make the connection. While most
Americans still prioritize service that gets the job done, the
personal connection matters. Eighty-one percent say that getting a
satisfactory answer is a very important part of servicing
satisfaction, and 74 percent want a knowledgeable professional. But
nearly half also say that personalized service (47%) and
appreciation for them as a customer (45%) are very important in
providing excellent care.
About the American Express Customer Service BarometerThe
American Express® Global Customer Service Barometer is a study
conducted by American Express and Ebiquity, exploring customer
attitudes and preferences around customer service. Research was
completed online among a random sample of 1,000 U.S. consumers aged
18+. Interviews were conducted by Ebiquity, a team of independent
marketing performance specialists. The overall results have a
margin of error of +/- 3.1 percentage points at the 95% confidence
level. The same survey methodology was used in Canada, Mexico, the
U.K., Italy, India, Singapore, Hong Kong and Japan.
About American ExpressAmerican Express is a global
services company, providing customers with access to products,
insights and experiences that enrich lives and build business
success. Learn more at americanexpress.com and connect
with us on facebook.com/americanexpress,
foursquare.com/americanexpress, linkedin.com/company/american-express,
twitter.com/americanexpress,
and youtube.com/americanexpress.
Key links to products, services and corporate responsibility
information: charge and credit cards, business credit cards, Plenti
rewards program, travel services, gift cards, prepaid cards,
merchant services, Accertify, corporate card, business travel
and corporate responsibility.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171215005416/en/
American ExpressDan Clayton,
212-640-2618daniel.e.clayton@aexp.comorStacey Orange,
954-503-9522stacey.l.orange@aexp.com
American Express (NYSE:AXP)
Historical Stock Chart
From Mar 2024 to Apr 2024
American Express (NYSE:AXP)
Historical Stock Chart
From Apr 2023 to Apr 2024