the road to recovery; an infographic on car breakdown providers
DESCRIPTION
We recently launched the Services Benchmarking Study, designed to help brand owners understand how their organisations rate across a variety of metrics; including overall customer satisfaction, NPS and Customer Effort. Our study also focused on benchmarking the top car breakdown providers. The good news is that for this sector when it comes to customer satisfaction, customers believe they receive good value for money, despite almost a third of customers contacting their breakdown provider for a call out. However, as shown in our study whilst one in three have been with their current supplier for more than five years, financial reasons and poor customer experience will lead to policy cancellations. Download our infographic “The Road to Recovery” which provides an overview of findings across the top breakdown providers including: • Breakdown of KPI metrics for breakdown providers • The key reasons for choosing a contract • Areas of poor customer experience that cause consumers to cancel • The role of switching and ditching – just how common is it? • Key methods for making contact with customer services The Services Benchmarking Study has compared providers’ big and small, detailing in-depth information of how your company has performed against the competition. Here at SPA Future Thinking we utilise Their Voice our bespoke Voice of the Customer programme to help leading blue chip organisations achieve greater customer engagement and improved business performance. If you’d like to know more about our Services Benchmarking Study and find out how your business compares please contact Craig Strudley on 01865 336 400 or [email protected]TRANSCRIPT
SPA Future Thinking conducted the Services Benchmarking Study in April 2014 with 3,500 consumers across finance, utilities, media, insurance and emergency cover service sectors.
If you would like to find out how your business scored please contact a member of the services team.
E: [email protected] T: +44(0)1865 336 400
Data courtesy of SPA Future Thinking
www.spafuturethinking.com innovation intelligence inspiration
THE ROAD TORECOVERY
Half have cancelled a car breakdown
policy for financial reasons
SWITCHING & DITCHING
THE EXPERIENCE
A BETTER DEAL
KEY PERFORMANCEINDICATORS
Almost one third of customers contacted their breakdown provider for
a call out
GETTING INTOUCH
IT’S TIME TO CHOOSE
REASON FOR CONTACT
HOW DO YOU MEASURE UP?
80% of the customers we contacted felt they received good value for money from their car breakdown provider
We correlated 4 key metrics against ‘intention to continue being a customer’ and found that perception of value for money correlates the most with intention to remain a customer...
At a broad level, financial services topped all three KPI’s. Utilities is seen as the worst performer; emergency cover is middling in comparison.
INSURANCEFINANCE
UTILITIES
EMERGENCY COVER
MEDIA
33% have contacted their car breakdown provider in the past year 83%
17%
63% 21% 14%
Better deal elsewhere
Too expensive
Price rise
Two thirds who cancelled a policy for financial reasons found a better deal elsewhere
Cost ranks as the most important factor when selecting a car breakdown provider, but more than half of consumers state something else...
Reputation
Ease of set up
Speed of Response
Word of Mouth
Terms of Contract
6%
Customer Service
8%24%
Quality
Cost
46%
8%2%
4% 4%
Providers across 20 service areas were rated across 3 widely used KPIs.
Phone contact still dominates although electronic contact is increasing, especially among younger customers
32%Call out
19%Policy renewal
8%Policy purchase
8%Billing enquiry
8%Change account details
4%Cancel or complain
Service didn’t meet my needs
Financial reasons
Poor customer experience
49% 20% 11%
Areas of ‘Poor Customer Experience’ that cause consumers to cancel
Poor customer service
36%
Product wasn’t as expected
10%23%
Effort involved to get
anything done
Billing issue
20%
£
50% have NEVER switched provider.
1 in 10 have switched 4 times or more
50% have been with their current supplier for less than 2 years
2014
We’ve compared the market across 5 main service sectors.As part of our service providers study we’ve benchmarked
the top car breakdown providers. If you want to knowhow your business compares then give us a call, we’d
be delighted to share.
Almost 1 in 3 have been with their current supplier for more than 5 years
0-10 rating of satisfaction
0-10 rating of likelihood to recommend
OVERALL SATISFACTION
NET PROMOTER
CUSTOMER EFFORT
Percentage of customers who agree that the company made
dealing with them easy
7.82 +11 87%