Is Your Customer a Churner or Brand Champion?

According to a new study of consumers from Verint and Ispos, there is nearly an equal amount of consumers who provide feedback to companies as compared to those who don’t, representing significant opportunities for businesses to gain additional insight through voice of the customer initiatives.  

Verint said that the data in the survey represents an opportunity for companies to establish longer-term loyalty with a greater number of customers by encouraging them to become more engaged by developing and driving voice of the customer programs across the enterprise. The survey found that of customer polled:

  •           17 percent 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.  
  •          26 percent are silent likers: customers that may be loyal and happy, but are the least likely to talk about their experiences and engage with brands.  
  •          14 percent are fence sitters: customers who appear to be ambivalent about the service they receive; they don’t engage with brands nor share their experiences.  
  •           23 percent 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.  

“This survey reveals a disconnect between the actual value of consumer feedback, and what consumers believe to be the impact of their shared input,” said Nancy Treaster, senior vice president and general manager, strategic operations, Verint, in a statement. “The data shows that service is a two-way street and it should demonstrate to consumers that businesses are willing to reward those who speak out in order to help improve loyalty, service and performance.”    

Other key findings regarding the views of U.S. consumers showed that:  

  •           A third of those surveyed (34 percent) believe companies take notice of their views, compared to a five-region average (U.S., U.K., Germany, Poland, Russia) of 29 percent.  
  •          Nearly half (49 percent) feel valued as a customer as compared to an average of 39 percent.  
  •          More consumers feel that service providers take notice of their views (34 percent) than those that do not (28 percent).  
  •           A large portion (42 percent) of consumers believes in the power of social media’s influence in helping to hold brands accountable.