Author: root

  • 2013 U.S. Sales Satisfaction Index (SSI) Study

    Satisfaction Increases Considerably When Auto Dealers Use Mobile Technology During the New-Vehicle Sales Process

    2013-11-14

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    WESTLAKE VILLAGE, Calif.: 14 November 2013 Sales satisfaction among new-vehicle buyers is 52 points higher when their salesperson uses a tablet device than when their salesperson does not use a tablet during the sales process (844 vs. 792, respectively, on a 1,000-point scale), according to the JD Power 2013 U.S. Sales Satisfaction Index (SSI) StudySM released today.   

    “The study finds that tablets are proving to be versatile and effective tools that may help maintain consistency in the sales process, while providing easily accessible and dynamic product information,” said Chris Sutton, senior director of the automotive retail practice at JD Power. “Although tablet usage has increased from a year ago, dealers are still missing an opportunity to improve their sales experience by providing shoppers with sales information on a single platform that allows them to easily browse options and features with immediate commentary from their salesperson.”

    KEY FINDINGS

    • Satisfaction is highest among new-vehicle buyers who are presented with pricing/payment options on a computer screen or tablet (833), followed by a computer printout (820); verbal price quotes (792); and hand-written figures (780). 

    • Tablet usage remains relatively limited, with only 10 percent of dealership salespeople using these devices, which is up from 7 percent in 2012. 

    • New-vehicle buyers most often indicate that salespeople use these devices to capture their personal information (51%); demonstrate vehicle features (41%); and display price or payment information (38%). 

    • During the shopping process, consumers most often use their mobile devices at the dealership to access vehicle pricing information (72%); model information (52%); and search inventory (38%).

    Rankings

    Rankings are based on the experiences of both buyers and rejecters. Overall sales satisfaction improves 9 points year over year to 673 in 2013. 

    Jaguar ranks highest among luxury brands in satisfaction with the new-vehicle buying experience with a score of 740. Among luxury brands, Volvo improves the most (+30 Index points) and moves up in the rankings to 9th in 2013 from 11th in 2012.

    For a fourth consecutive year, MINI ranks highest among mass market brands, with a score of 718, a 6-point increase from 2012. Among mass market brands, Kia improves the most (+33 index points) and ranks 11th in 2013, up from 16th in 2012.

    The 2013 U.S. Sales Satisfaction Index (SSI) Study is based on responses from 29,040 buyers who purchased or leased their new vehicle in April or May 2013. The study is a comprehensive analysis of the new-vehicle purchase experience and measures customer satisfaction with the selling dealer (satisfaction among buyers). The study also measures satisfaction with brands and dealerships that were shopped but ultimately rejected in favor of the selling brand and dealership (satisfaction among rejecters) and was fielded between July and September 2013.

    About JD Power and Advertising/Promotional Rules www.jdpower.com/corporate

    About McGraw Hill Financial www.mhfi.com 

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  • 2014 Property Claims Satisfaction—Wave 2

    Improvements in Handling of First-Time Claimants and Non-Catastrophic Claims Drive Higher Levels of Customer Satisfaction

    2013-11-14

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    WESTLAKE VILLAGE, Calif.: 14 November 2013 Customer satisfaction with their property insurance claims experience improves due to insurers providing accurate timelines of the claims process length and helping claimants avoid settlement negotiations, according to the JD Power 2014 Property Claims Satisfaction StudySMWave 2 released today.
    The study measures satisfaction with the property claims experience among insurance customers who filed a claim for damages covered under their homeowners policy by examining five factors: settlement; first notice of loss; estimation process; service interaction; and repair process.

    KEY FINDINGS

    • Overall claimant satisfaction increases to 848 (on a 1,000-point scale) in Wave 2 from 832 in Wave 1.
    • Overall satisfaction among first-time claimants improves by 17 points to 842 in Wave 2 from 825 in Wave 1. The increase in first-time claimant satisfaction is due to a significant increase in the percentage of claimants whose insurer provided an accurate timeline of the claims process length (76% in Wave 2 vs. 72% in Wave 1) and a significant increase in the percentage of claimants who avoided a settlement negotiation (75% did not have to negotiate the settlement in Wave 2 vs. 71% in Wave 1).
    • Satisfaction with agent first notice of loss (FNOL) drops to 853 in Wave 2 from 875 in Wave 1, while satisfaction with direct FNOL–reporting claims via a call center, website or other electronic method–improves to 855 in Wave 2 from 829 in Wave 1.
    • Satisfaction with non-catastrophic damage claims increases to 840 from 829 in the 2013 Property Claims Satisfaction Study and 833 in the 2012 study. The increase in satisfaction is a result of significantly higher scores in the estimation process, repair process and settlement factors.
    “Insurers are doing a better job of setting claimant expectations of the time it will take to settle their claim, which is a significant contributor to overall satisfaction,” said Jeremy Bowler, senior director of the global insurance practice at JD Power. “Based on feedback from claimants, it is evident that insurers also are more consistently taking time to explain the settlement, which results in fewer claimants negotiating their settlement.”
    The 2014 Property Claims Satisfaction StudyWave 2 is based on responses from 1,740 homeowners insurance customers who filed a property claim after June 1, 2012. The current wave of the 2014 study was fielded in the third quarter of 2013. This information follows the previous reporting period, Wave 1, which published in August and covered claims that were filed between April 1, 2012, and June 19, 2013.

    Media Relations Contacts:

    John Tews; Troy, Mich.; (248) 680-6218; [email protected]
    Syvetril Perryman; Westlake Village, Calif.; (805) 418-8103; [email protected]

    About JD Power and Advertising/Promotional Rules
    www.jdpower.com/corporate  

    About McGraw Hill Financial www.mhfi.com. 

     

  • 2013 U.S. Primary Mortgage Origination Satisfaction Study

    Customer Satisfaction with Mortgage Origination Lenders Reaches Seven-Year High, While Gap in Satisfaction between Home Buyers and Refinancers Narrows

    2013-11-14

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    Read the latest Mortgage Origination press release

     

    WESTLAKE VILLAGE, Calif.: 14 November 2013 Overall customer satisfaction with mortgage lenders reaches a seven-year high, with satisfaction among first-time home buyers improving considerably from 2012, according to the JD Power 2013 U.S. Primary Mortgage Origination Satisfaction StudySM released today. 

    Overall customer satisfaction improves for a third consecutive year, averaging 771 (on a 1,000-point scale) in 2013, up from 761 in 2012 and 747 in 2011. The study measures customer satisfaction in four key factors of the mortgage origination experience (in order of importance): application/approval process; loan representative; closing; and contact.

    KEY FINDINGS

    • Overall satisfaction is lower among home buyers than among home owners who refinance (765 vs. 775, respectively), in part due to refinance customers’ familiarity with the process.
    • Overall satisfaction among first-time home buyers is 772, compared with 757 among repeat buyers.
    • Despite improvements, customers purchasing a home, particularly first-time home buyers, continue to experience difficulties understanding the loan options available to them. In the 2013 study, 61 percent of first-time home buyers indicate that their loan representative clearly explained their options and that these options were completely understood, compared with 74 percent of repeat home buyers and 81 percent of refinancing customers.
    • The use of electronic closing documents improves customer closing satisfaction. Closing satisfaction among the 8 percent of customers who closed their mortgage using electronic documents in person averages 830, while satisfaction among the 84 percent of those who closed with paper documents in person is 772.
    • The incidence of incurring additional fees at closing is higher among first-time home buyers (17%) than among repeat buyers (8%) and refinancing customers (7%).

    “As refinancing volumes are on the decline, consumers contemplating purchasing a home are likely to have multiple lenders competing for their business. This can be particularly beneficial for those who are first-time home buyers,” said Craig Martin, director of the financial services practice at JD Power. “First-time buyers often have questions and should not be afraid to ask prospective lenders about the specifics of the mortgage process and how they will be kept informed. Much of the stress with borrowing comes from a lack of information and knowledge during the process. Asking when you will be updated and how that information will be provided are two key questions that may help improve the borrowing experience.” 

    According to Martin, customers purchasing a home, especially for the first time, have special needs and priorities that influence their level of satisfaction. Individual mortgage firms that are able to effectively deliver on these priorities may be able to distinguish themselves from the competition.

    Rankings:

    Quicken Loans ranks highest (841) among primary mortgage lenders and performs well across all factors. BB&T (Branch Banking & Trust Co.) ranks second (798), also performing well across all factors. U.S. Bank ranks third (783) and performs particularly well in the application/approval process (756) and loan representative (810) factors.  

    The 2013 U.S. Primary Mortgage Origination Satisfaction Study is based on responses from 3,267 customers who originated a new mortgage or refinanced within the past 12 months. The study was fielded between July 30 and August 30, 2013.

    About JD Power

    JD Power is a global marketing information services company providing performance improvement, social media and customer satisfaction insights and solutions. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. Headquartered in Westlake Village, Calif., JD Power has offices in North/South America, Europe and Asia Pacific. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power is a business unit of McGraw Hill Financial.

    About McGraw Hill Financial

    McGraw Hill Financial (NYSE: MHFI) is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company’s iconic brands include: Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, JD Power, and McGraw Hill Construction. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com

    Media Relations Contacts

    Jeff Perlman; Brandware Public Relations; Woodland Hills, Calif.; 818-598-1115; [email protected]

    John Tews; Troy, Mich.; 248-680-6218; [email protected]
     

    No advertising or other promotional use can be made of the information in this release without the express prior written consent of JD Power. www.jdpower.com 

    Follow us on Twitter @jdpower

     
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  • 2013 Appliance Shopper Website Evaluation Study

    Appliance Brands and Retailers Can Impact Consideration and Purchase Behaviors through Their Websites

    2013-11-14

    jdp-root

    WESTLAKE VILLAGE, Calif.: 14 November 2013 The more useful a website is to appliance shoppers, the higher the likelihood they are to visit a physical store and consider additional purchases from the brand or retailer, according to the inaugural JD Power 2013 Appliance Shopper Website Evaluation StudySM released today.

    The study, which evaluates the usability of appliance brand and retailer websites, finds that approximately three in four shoppers are more likely to consider a specific brand or shop a specific retailer when they have an outstanding experience with the website.

    “Consumers find retailer and brand websites very helpful while shopping for major appliances,” said Christina Cooley, director of the home improvement practice at JD Power. “To maximize the online shopping experience, it is important to focus on the whole package in terms of content, navigation, appearance and speed. Understanding what information and website features are most important to shoppers is critical to drive consideration and conversion to purchase. It is also important to keep in mind that Internet research doesn’t just happen at home, with a high percentage of shoppers going online while at a physical store location.”

    KEY FINDINGS

    • Product ratings/reviews and pricing are the most important website features to shoppers.
    • While 75 percent of appliance shoppers’ online research takes place on a desktop/laptop computer, 42 percent of shoppers indicate they have used a smartphone and/or tablet to research appliance product information while at the physical store location.
    • Tasks an appliance shopper would likely perform on a smartphone and/or tablet when accessing a retailer or brand site include finding a store location, followed by product pricing information and researching sales and promotions.
    • GE Appliances ranks highest among appliance brand websites, followed by Jenn-Air, Maytag and Kenmore, respectively.
    • Best Buy ranks highest among appliance retailer websites, followed by Lowe’s, The Home Depot and Sears, respectively.

    The 2013 Appliance Shopper Website Evaluation Study is based on responses from 3,037 major appliance purchase intenders who evaluated both brand and retailer websites. It was fielded in September 2013.

    About JD Power

    JD Power is a global marketing information services company providing performance improvement, social media and customer satisfaction insights and solutions. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. Headquartered in Westlake Village, Calif., JD Power has offices in North/South America, Europe and Asia Pacific. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power is a business unit of McGraw Hill Financial.

    About McGraw Hill Financial

    McGraw Hill Financial (NYSE: MHFI) is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company’s iconic brands include: Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, JD Power, and McGraw Hill Construction. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com 

    Media Relations Contacts

    Syvetril Perryman; Westlake Village, Calif.; 805-418-8103; [email protected]
    John Tews; Troy, Mich.; 248-680-6218; [email protected]

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  • JD Power Certified Call Center Program—Freeman

    Freeman Call Center Recognized for Providing an Outstanding Customer Service Experience For a Fourth Consecutive Year

    2013-11-12

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    WESTLAKE VILLAGE, Calif.: 12 November 2013 Freeman has been recognized for call center operation customer service excellence for a fourth consecutive year under the JD Power Certified Call Center Program.SM The Certified Call Center Program distinction acknowledges a strong commitment by Freeman’s Customer Support Center operations to provide “An Outstanding Customer Service Experience.”


     

    To become certified, the call centers successfully passed a detailed audit of more than 100 practices that encompass their recruiting; training; employee incentives; management roles and responsibilities; and quality assurance capabilities. As part of its evaluation, JD Power conducted a random survey of Freeman customers who recently contacted its call center located at Freeman’s headquarters in Grand Prairie, Texas.


     

    “Congratulations to Freeman’s Customer Support Center for being certified for the fourth consecutive year,” said Mark Miller, senior director, contact center solutions at JD Power. “Our research shows that their customers value the speed with which their calls are answered and how quickly their issues are addressed. This is very important for Freeman’s business.”



    For certification status, a call center must also perform within the top 20 percent of customer service scores, which are based on benchmarks established in JD Power’s cross-industry customer satisfaction research. The evaluation criteria include the customer service representative’s courtesy, knowledge and concern for the customer; promptness in speaking to a person; and timely resolution of the problem or request. Additionally, the experience with the automated phone system is evaluated based on the clarity of the information provided; the ease of navigating the phone menu prompts; and the ease of understanding the phone menu instructions.

    “One of the benefits of being employee-owned is that our employees are genuinely invested in our customers’ business and committed to their success,” said Joe Popolo, Freeman CEO. “This fourth consecutive honor from JD Power demonstrates our Customer Support Center’s role in providing a critical connection to our customers and exceptional customer service at all levels. We are honored to again receive this important recognition and wish to thank our customers for trusting Freeman.”


    The Certified Call Center Program was launched by JD Power in 2004 to evaluate overall customer satisfaction with call centers and to help call centers in various industries increase their efficiency and effectiveness by establishing and continually updating leading practices for handling service calls.


    For more information on the Certified Call Center Program, please visit JDPower.com.

    About JD Power


    JD Power is a global marketing information services company providing performance improvement, social media and customer satisfaction insights and solutions. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. Headquartered in Westlake Village, Calif., JD Power has offices in North/South America, Europe and Asia Pacific. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power is a business unit of McGraw Hill Financial.


    About McGraw Hill Financial


    McGraw Hill Financial (NYSE: MHFI) is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company’s iconic brands include: Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, JD Power, and McGraw Hill Construction. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com 


    Media Relations Contacts


    John Tews; Troy, Mich.; 248-680-6218; [email protected]

    Susan MacLaughlin; Edelman on behalf of Freeman; Dallas, Texas; 214-443-7597; [email protected]


     

    No advertising or other promotional use can be made of the information in this release without the express prior written consent of JD Power. www.jdpower.com


     

    Follow us on Twitter @jdpower


     

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  • 2013 Blood Glucose Meter Satisfaction Study

    Overall Satisfaction Declines among Blood Glucose Meter Users

    2013-11-07

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    WESTLAKE VILLAGE, Calif.: 7 November 2013 Overall satisfaction with blood glucose meters among Medicare blood glucose meter users has declined a significant 18 points to 830 (on a 1,000-point scale) from 848 in 2012, while satisfaction among non-Medicare blood glucose meter users has only declined 7 points to 804 from 811 in 2012, according to the JD Power 2013 Blood Glucose Meter Satisfaction StudySM released today. 

    “While still early, it’s possible that declining satisfaction among seniors who use Medicare blood glucose meters may be related to changes under Medicare’s National Mail-Order Program for diabetic supplies,” said Scott Hawkins, director of the healthcare practice at JDPower. “As some Medicare recipients transition to new meters and others cope with finding supplies for existing meters, it could lead to lower satisfaction.”

    KEY FINDINGS

    • Roche Diagnostics ranks highest in overall satisfaction with a score of 824 and performs particularly well in the features and performance factors. 

    • Overall satisfaction with the meter brands of the four largest manufacturers ranked in the 2013 study is higher than satisfaction with meter brands that are not ranked (818 vs. 801, respectively). While the non-ranked meter brands perform well in cost of test strips, they perform lower than ranked brands in four of the six user experience factors, including design (812 vs. 843, respectively); features (762 vs. 792, respectively); performance (812 vs. 835, respectively); and ease of use (827 vs. 844, respectively). 

    The 2013 Blood Glucose Meter Satisfaction Study is based on responses from 2,123 blood glucose meter users with Type 1 or Type 2 diabetes. The study was fielded in September 2013.

    About JD Power and Advertising/Promotional Rules www.jdpower.com/corporate

    About McGraw Hill Financial www.mhfi.com  

     

  • 2013 North America Rental Car Satisfaction Study

    Customers Who Choose a Rental Car Company Based on Price Are Least Satisfied

    2013-11-05

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    WESTLAKE VILLAGE, Calif.: 5 November 2013 Despite price being the most-frequently cited reason for customers to choose a particular rental car company, those who select based on price are the least satisfied with their overall  rental car experience, according to the JD Power 2013 North America Rental Car Satisfaction StudySM released today. 

    Now in its 18th year, the study measures overall customer satisfaction with rental cars at airport locations by examining six factors (listed in order of importance): cost & fees; pick-up process; return process; rental car; shuttle bus/van; and reservation process.

    KEY FINDINGS 

    • More than one-third (35%) of customers cite low price as a top reason for selecting their rental car company.  Yet, overall satisfaction is lowest among customers who select based on price (756 on a 1,000-point scale). In comparison, overall satisfaction among customers who choose a rental car company based on good customer service is highest (828).
    • Overall customer satisfaction with their rental car experience averages 775 in 2013, a six-point increase from 2012 and the highest satisfaction score since the study’s current methodology was adopted in 2006.
    • Customers on personal or leisure travel are slightly more satisfied, on average, than are business customers (777 vs. 771, respectively). Personal or leisure customers are more satisfied than are business customers across all factors except the pick-up process.
    • A critical factor associated with rental car satisfaction is expediency of pick up.  Among the 20 percent of customers who use a counter bypass service, satisfaction with the pick-up process averages 820 compared with 770 for those that use the rental counter.
    • A smile from the rental car staff can have a huge impact on overall satisfaction. Overall satisfaction among customers greeted with a smile from one member of a rental car company’s staff is 58 points higher than among those not greeted with a smile (693 vs. 635, respectively). Satisfaction among customers greeted with a smile by four staff members is 200 points higher than among those not greeted with a smile (835 vs. 635, respectively).
    • National ranks highest in customer satisfaction among rental car companies, with a score of 809, performing particularly well across all six factors. Enterprise ranks second with a score of 799, followed by Alamo with 782.

    “While price is the first filter for selecting a rental car company for most travelers, such other factors as expediency, especially for business travelers, and customer service are what really please customers,” said Rick Garlick, global travel and hospitality practice lead at JD Power. “Lowest price is often associated with a negative experience. We see the same thing in our hotel study–customers often feel like they got what they paid for, and it wasn’t a positive experience.” 

    The 2013 North America Rental Car Satisfaction Study is based on responses gathered between September 2012 and August 2013 from more than 12,382 evaluations from business and leisure/personal customers who rented a vehicle at an airport location between August 2012 and August 2013.

    Media Relations Contacts

    Jeff Perlman; Brandware Public Relations; Woodland Hills, Calif.; 818-598-1115; [email protected]

    John Tews; JD Power; Troy, Mich.; 248-680-6218; [email protected]

    About JD Power and Advertising/Promotional Rules http://www.jdpower.com/about/index.htm

    AboutMcGraw Hill Financial www.mhfi.com 
     
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