Bain & Company’s and MaritzCX’s joint UK Consumer Survey shows that technology and auto brands are most loved by consumers, followed by media, travel and banking brands
London, 9th October 2019 – Bain & Company, in partnership with MaritzCX, today present their new, ground-breaking UK Consumer Study, which benchmarks the customer experience delivered by more than 190 brands in 15 industries across the region. The study identifies the brands that UK customers consider to be the best within their industries and across industries in overall customer experience, digital and non-digital channel experience, resolving complaints, and innovation.
Within industries, the study highlights leaders in brand perception, major product categories and customer journeys. The data from the study reveals the economic value of delivering a great customer experience and explores in depth the reasons why brands and industries win or lose on customer experience.
Technology and auto brands come out on top, with the greatest percentages of promoters as defined by Net Promoter Scores ® (NPS®), which form the basis of the study. Media, travel and banking brands round out the top 5 industries in terms of customer loyalty.
“Loyalty is not something that any brand can take for granted,” said Stanford Swinton, partner at Bain & Company and author of the report. “It’s something that you have to earn and then work hard to keep. But this has clear economic benefits: loyal customers recommend a company more and also cost less to serve.”
Among the key findings of the study:
- Only about 10 percent of brands in the UK have an NPS of 40 or more. Brands that stand out for customers include NFU Mutual, First Direct, Volvo, Netflix and Amazon
- Technology, auto and media companies had the largest shares of promoters while logistics, energy and water companies had the least.
- Banks and airlines have the widest range of customer loyalty scores
- Sky, Amazon, DPD, Tesla and John Lewis are ranked among the top 5 in terms of innovation
- Technology is the largest contributor to innovation for many UK industries
The key factors affecting a Net Promoter Score vary by industry: in banking, insurance or travel and leisure, service levels were a key part of positive comments whereas these matter less in sectors like auto and retail where product performance is key to customer satisfaction. The study also looked at the impact of complaints on loyalty.
“When it comes to complaints, it’s not actually about how many a brand receives but how they’re handled that matters,” said Swinton. “This surprising finding shows that even brands that receive a higher-than-average share of complaints can earn high loyalty scores if they serve their customers well in addressing these issues.”
“We have designed the UK Consumer Study to provide unique depth and to enable comparisons to be made between brands and across industries,” said Jeremy Griffiths, Head of CX Consulting and Insight at MaritzCX. “The study was designed to look beyond an overall brand NPS level and delve deeper into products, journeys and channels – with all the data and insights available to the curious via a suite of preconfigured dashboards.”
MaritzCX is part of the Bain Alliance Ecosystem – a network of best-of-breed partnerships with complementary tool, technology, and service providers that accelerates delivery of breakthrough client results. Through the Bain Alliance Ecosystem, Bain & Company clients have access to relevant new capabilities, enabling faster assimilation of new ideas, skills, and ways of working.
The study data is available for purchase via access to multiple MaritzCX dashboards where users can explore how a brand performs against others in the industry and drill into target groups using numerous demographics and other preconfigured filters.