Category: United States

JD Power Financial Advisor Study Finds Attrition Risk Rising among Top Performers

2017-06-28

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COSTA MESA, Calif.: 29 June 2017 — Financial advisors are less satisfied with their firms than they were last year and the decline is sharpest among the highest producers, according to the JD Power 2017 U.S. Financial Advisor Satisfaction Study,^SM released today. A confluence of factors, including continuing changes to compensation, uncertainty over the Department of Labor Fiduciary Rule, emerging technologies like robo-advisors and waning faith in firm leadership are all contributing to the trend.

The study measures satisfaction among both employee advisors (those who are employed by an investment services firm) and independent advisors (those who are affiliated with a broker-dealer but operate independently) based on seven key factors (in alphabetical order): client support; compensation; firm leadership; operational support; problem resolution; professional development support; and technology support. Satisfaction is measured on a 1,000-point scale. Overall satisfaction averages 719 among employee advisors, down 3 points from 722 in 2016. Independent advisors average 752, down 3 points from 755 in 2016.                   

“Among investors, the most affluent and profitable clients tend to be the most satisfied because they get more attention and value from their firm,” said Mike Foy, director of the wealth management practice at JD Power. “With advisors, we see the exact opposite. Those just starting out get a certain degree of instant credibility with prospects from the brand as well as significant training and professional development opportunities, but for the most established advisors, the firm’s value proposition can be less clear. Firms need to continue to raise their game to keep these high-producing advisors happy and productive, both to retain client assets and revenue in the short term, and also as a key part of a longer-term strategy to mentor and team with the next generation of advisors.”

Following are some of the key findings of the study:

• DOL Fiduciary Rule spurs confusion: Among employee advisors, 41% indicate they don’t completely understand the Fiduciary Rule, but 64% say they expect to lose smaller clients as a result, and 58% say they expect it to negatively affect the profitability of their practices. Additionally, 44% say the rule will make it more difficult to attract new clients and 36% say it will be harder to retain existing clients.

• Higher producers are least satisfied employees: While overall satisfaction among all financial advisors is down 3 points this year, the drop is more significant among higher producers. Among advisors with more than $1 million in annual production, overall satisfaction is 683, down 27 points from 2016. In contrast, among advisors with less than $250,000 in production, overall satisfaction increases to 799 from 764 in 2016.

• Leadership, strategic vision central to winning back advisors: More than one-fourth (27%) of higher producers say they “strongly agree” that communication from leadership is both timely and very useful. Just 35% “strongly agree” that management is leading in the right direction. The latter is especially critical now as firms navigate through transformational industry changes that potentially affect what kind of clients advisors work with, what products they sell and how they are compensated.

• Elevated high touch support: Top-producing advisors have both greater needs and higher expectations in terms of technology and operational support than lower producers. Top producers averaged 22 compliance contacts over the past year, compared with just 11 for lower producers, and also faced longer average resolution times. Among advisors who indicate they spent more than 5% of time on compliance, overall satisfaction scores are 148 points lower than among those who spent less time resolving compliance issues.

For more information about the U.S. Financial Advisor Satisfaction Study, visit http://www.jdpower.com/resource/us-financial-advisor-satisfaction-study.

See the online press release at http://www.jdpower.com/pr-id/2017089.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power is headquartered in Costa Mesa, Calif., and has offices serving North/South America, Asia Pacific and Europe. JD Power is a portfolio company of XIO Group, a global alternative investments firm headquartered in London, and is led by its four founders: Athene Li, Joseph Pacini, Murphy Qiao and Carsten Geyer.

Media Relations Contacts
Geno Effler; Costa Mesa, Calif.; 714-621-6224; [email protected]
John Roderick; St. James, N.Y.; 631-584-2200; [email protected]

About JD Power and Advertising/Promotional Rules www.jdpower.com/about-us/press-release-info

 

Early Adopters Enjoy Branchless Banking but Represent Only a Fraction of Retail Bank Deposits, JD Power Finds

2017-06-28

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COSTA MESA, Calif.: 29 June 2017 — Direct banks are emerging as an increasingly significant threat to traditional banks. These institutions, which lack a physical bank branch, are scoring high marks for customer satisfaction, advocacy and loyalty, according to the JD Power 2017 U.S. Direct Banking Satisfaction Study,^SM released today. In fact, overall satisfaction scores for direct banks are higher than those for traditional retail banks, though they currently represent just 6% of total bank deposits in the United States.

The inaugural study measures overall satisfaction with direct banks based on five factors (in order of importance): channel activities; products and fees; communication; new account opening; and problem resolution.

“Consistent with the trends we’ve seen in mobile banking, customers who take the leap of faith with branchless banking are having very favorable experiences,” said Bob Neuhaus, financial services consultant at JD Power. “Look for continued rapid growth from branchless banks and expansion of branchless strategies from traditional banks, especially outside of their branch footprints.”

Key Findings

• Direct banks outperform traditional retail banks: The overall satisfaction score for direct banks is 865 (on a 1,000-point scale), which is 49 points higher than the overall satisfaction score of traditional branch-based retail banks in the JD Power 2017 U.S. Retail Banking Satisfaction Study.^SM Direct banks also perform well vs. retail banks with respect to advocacy and loyalty, with 76% of direct bank customers saying they “definitely will” recommend their bank and 72% saying they “definitely will” reuse their bank. These compare with just 57% and 56%, respectively, among traditional bank customers.
• Rapid growth in an emerging market: Over the past three years, direct banks have increased deposits by 31%, with a great deal of that growth coming organically in the form of new deposit accounts, which are up 29% over the same period. However, direct banks currently represent just 6% of total deposits in the country.
• Direct banking customers are educated, wealthy and young: From a demographic perspective, 67% of direct bank customers have a bachelor’s degree or higher; 65% are either mass affluent¹ or affluent; and their average age is 47. Direct banks also have a greater number of minority customers than traditional banks and their customers are more likely to be employed full-time.

Study Rankings

Capital One360 ranks highest in overall satisfaction with a score of 882 and has the lowest incidence of ATM fees; overdraft fees; and fee structure changes of all direct banks in the study. Also, Capital One 360 receives particularly high ratings for ease of navigating and appearance for both online and mobile platforms.

Discover Bank ranks second with a score of 869. E*TRADE Bank ranks third with a score of 868. Illustrating the tight competition in the mobile app space, just 59 index points separate the highest- and lowest-ranked performers in the study.

The 2017 U.S. Direct Banking Satisfaction Study is based on responses from 2,629 direct bank customers nationwide. The study was fielded in April 2017.

To learn more about the U.S. Direct Banking Satisfaction Study, visit http://www.jdpower.com/resource/us-direct-banking-satisfaction-study.

See the online press release at http://www.jdpower.com/pr-id/2017090.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power is headquartered in Costa Mesa, Calif., and has offices serving North/South America, Asia Pacific and Europe. JD Power is a portfolio company of XIO Group, a global alternative investments firm headquartered in London, and is led by its four founders: Athene Li, Joseph Pacini, Murphy Qiao and Carsten Geyer.

Media Relations Contacts
Geno Effler; Costa Mesa, Calif.; 714-621-6224; [email protected]
John Roderick; St. James, N.Y.; 631-584-2200; [email protected]

About JD Power and Advertising/Promotional Rules www.jdpower.com/about-us/press-release-info

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¹An affluent individual is defined as someone with an annual income of $150,000 or more and investable assets of $250,000 or more. A mass affluent individual has an income of $150,000 or more and investable assets less than $250,000 or has an income less than $150,000 and investable assets of $100,000 or more.

 

“Enjoy Your Stay—and Have You Downloaded Our App?”

2017-07-11

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COSTA MESA, Calif.: 12 July 2017 — Mobile apps are becoming as central to the hotel guest experience as soft pillows, extra towels and a competitive price.

According to the JD Power 2017 North America Hotel Guest Satisfaction Index Study,^SM released today, incorporating mobile apps and functionality into a hotel stay is associated with higher guest satisfaction. Integrating this technology also makes guests more willing to share their positive hotel experiences on social media.

The risk for hotels is that greater use of mobile devices for booking means some guests might secure a room with an online travel agency (OTA), which is associated with lower satisfaction. The industry is currently emphasizing direct booking, where a hotel guest rents a room directly through the hotel rather than another way. Pushing for more guests to become rewards members will likely enhance this effort.  While OTAs remain popular among many guests, there are some disadvantages to their use, such as the need to deal with a third party if problems arise with a reservation.

“As mobile usage becomes increasingly ubiquitous for guests, the challenge for hotels becomes twofold: First, they must persuade guests to book directly with them, and second, they must encourage easy utilization of this technology,” said Rick Garlick, practice lead, travel and hospitality at JD Power. “By forging direct relationships, hotels can become guardians of the guest experience, but at the center of these relationships is an establishment’s mobile strategy.”

The study, now in its 21st year, measures overall guest satisfaction across eight hotel segments: luxury; upper upscale; upscale; upper midscale; midscale; economy; upper extended stay; and extended stay. Seven key factors are examined in each segment to determine overall satisfaction: reservation; check-in/check-out; guest room; food & beverage; hotel services; hotel facilities; and cost & fees. Satisfaction is calculated on a 1,000-point scale.

Following are key findings of the 2017 study:

• Direct booking: When guests book through an independent travel website or mobile app (e.g., Expedia, Travelocity) instead of directly with the hotel, they are more likely to experience a problem and to be less satisfied with their stay.
• Membership matters: Hotel rewards members are far more likely to book directly with a hotel or on a loyalty member site than those who are not members (75% vs. 47%, respectively), and their satisfaction is higher. The number of those who book through OTAs is increasing (19% in 2017 vs. 16% in 2013), despite the concerns some guests have ranging from earning hotel rewards to strict cancellation policies.
• Mobile mania: In 2014, 14% of online reservations were made using mobile means (smartphone or tablet), and now that percentage is 25%. Those utilizing mobile reservations are more likely to be younger or business travelers.
• Not so mobile mania: Among guests who have a hotel’s app on their mobile device, 38% don’t use it during their stay. Only a tiny percentage of check-ins (4%) and check-outs (1%) occurs through mobile apps, but when it is used, it is associated with higher guest satisfaction.
• Get ’em to try the app: Guests who download and use a hotel’s mobile app are more satisfied and have greater loyalty to that brand. While only 19% of all guests have downloaded a hotel app, 70% of rewards members have done so.
• Social media surprise: Despite the perception that people posting to social media only do so to complain, guests describing their experience via these channels appear to be more satisfied overall. At the same time, those who do experience a problem are extremely likely to post to social media (86%).
• Reading is fundamental: Slightly more than half (52%) of guests have read a review of a hotel, industry news or an online forum in the past month, and 46% of those guests wrote a review in the past six months. Review readers and writers are also more likely to have higher guest satisfaction.

Hotel Segment Rankings

“While The Ritz-Carlton and JW Marriott rank highest in the luxury segment, both of these Marriott-affiliated brands appeal to different types of customers,” Garlick said. “It’s important to remember that this study measures guest satisfaction among a hotel brand’s own customers and doesn’t directly compare hotel brands to one another. Often, the type of guest becomes an important element in determining satisfaction rankings.”

The following hotel brands rank highest in guest satisfaction in their respective segments:

• Luxury: JW Marriott and The Ritz-Carlton¹ (tie)
• Upper Upscale: Hyatt
• Upscale: Hilton Garden Inn (for a second consecutive year)
• Upper Midscale: Drury Hotels (for a 12th consecutive year²)
• Midscale: Wingate by Wyndham (for a third consecutive year)
• Economy: Americas Best Value Inn
• Upper Extended Stay: Staybridge Suites
• Extended Stay: Candlewood Suites

The 2017 North America Hotel Guest Satisfaction Index Study is based on responses gathered between June 2016 and May 2017 from more than 63,000 guests in Canada and the United States who stayed at a hotel in North America between May 2016 and May 2017.

For more information about the 2017 North America Hotel Guest Satisfaction Index Study, visit http://www.jdpower.com/resource/jd-power-north-america-hotel-guest-satisfaction-index-study.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power is headquartered in Costa Mesa, Calif., and has offices serving North/South America, Asia Pacific and Europe. JD Power is a portfolio company of XIO Group, a global alternative investments and private equity firm headquartered in London, and is led by its four founders: Athene Li, Joseph Pacini, Murphy Qiao and Carsten Geyer.

Media Relations Contacts
Geno Effler; Costa Mesa, Calif.; 714-621-6224; [email protected]
John Roderick; St. James, N.Y.; 631-584-2200; [email protected]

About JD Power and Advertising/Promotional Rules www.jdpower.com/about-us/press-release-info

About Dependability Ratings https://www.jdpower.com/cars/ratings/dependability

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¹ The Ritz-Carlton ranks highest for the third consecutive year.
² Drury Hotels was previously ranked highest in the midscale segment. It was included in the upper midscale segment in 2014.

 

Overall Residential Electric Utility Customer Satisfaction Increases for Sixth Consecutive Year, JD Power Finds

2017-07-11

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COSTA MESA, Calif.: 12 July 2017 — An increase in power outage information along with higher price satisfaction are the top drivers of the sixth consecutive year of improved customer satisfaction with residential electric utility companies, according to the JD Power 2017 Electric Utility Residential Customer Satisfaction Study,^SM released today.

“The utility industry has begun to fully understand the importance of customer satisfaction over the past several years, and now many have dedicated leaders and teams focused on improving the customer experience,” said John Hazen, senior director of the energy practice at JD Power. “A challenge we continue to see, however, is that the pace of implementing satisfaction improvements at utilities can be slower than in other industries.”

Overall satisfaction averages 719 (on a 1,000-point scale) in 2017, a 39-point improvement from 2016. A 39-point increase in the power quality & reliability factor (767) and a 48-point increase in the price factor (659) are key contributors to the year-over-year improvement in overall satisfaction. Price satisfaction increases, as customers provide their utility with higher ratings for ease of understanding pricing, total monthly cost and fairness of pricing. 

The study finds that more utility customers (66% vs. 59% in 2016) are getting critical information during a power outage, such as the cause of the outage, number of customers affected and estimates on when power will be restored. Overall satisfaction among customers who receive outage information is much higher than among those who do not receive such information (716 vs. 683, respectively).

Following are some of the key findings of the study:

• Customers believe their utility infrastructure is being updated: A larger percentage of customers in 2017 believe their utility is focused on improving the infrastructure to improve safety and reliability, compared with 2016 (68% vs. 63%, respectively).
• Electronic bill-pay is increasing: Utility messaging to encourage customers to move away from paying their bill with a check by mail has helped reduce mail payments by 3 percentage points year over year (17% vs. 20%, respectively). 
• Paperless communications on the rise: Less than half (43%) of customers recall communications from their utility; however, the source of communications is changing across the industry. Year over year, paper bill insert recall has decreased to 33% from 36%, while there has been an increase in the number of customers going directly to the utility website (15% vs. 12% in 2016) and those who receive emails from their utility (25% vs. 21% in 2016).
• Website access is going mobile: More than one-third (35%) of customers are now accessing their utility’s website either by a mobile phone or by a tablet, which is a 15% increase from 2016.

Study Rankings

The Electric Utility Residential Customer Satisfaction Study ranks midsize, large and cooperative utility companies in four geographic regions: East, Midwest, South and West. Companies in the midsize utility segment serve between 100,000 and 499,999 residential customers, while companies in the large utility segment serve 500,000 or more residential customers.

East Region
PPL Electric Utilities ranks highest among large utilities in the East region for the sixth consecutive year, with a score of 739. Con Edison (735) ranks second, followed by PSE&G (727) and Central Maine Power (720).

Among midsize utilities in the East region, Penn Power ranks highest with a score of 709. Green Mountain Power (707) ranks second, while Rochester Gas & Electric (704) ranks third and Met-Ed (701) ranks fourth.

Midwest Region
MidAmerican Energy ranks highest in the large utility segment in the Midwest region for the 10th consecutive year, with a score of 742. DTE Energy and Ohio Edison tie for second (728 each), while Xcel Energy-Midwest (723) ranks fourth.

In the midsize utility segment in the Midwest region, Kentucky Utilities ranks highest for the second consecutive year, with a score of 761. Louisville Gas & Electric (743) ranks second, followed by Otter Tail Power Company (734) in third and Lincoln Electric System (725) in fourth.

South Region
Georgia Power ranks highest in the large utility segment in the South region with a score of 761. Florida Power & Light (757) ranks second, followed by Alabama Power (749) in third and Entergy Louisiana (745) in fourth.

EPB ranks highest in the midsize utility segment in the South region for the second consecutive year, with a score of 761. Entergy Mississippi (757) ranks second, followed by Gulf Power (749) in third and JEA (747) in fourth.

West Region
Salt River Project (SRP) ranks highest in the large utility segment in the West region for the 16th consecutive year, with a score of 775. SMUD (750) ranks second, followed by Portland General Electric (746) in third and Southern California Edison (727) in fourth.

Clark Public Utilities ranks highest in the midsize utility segment in the West region for the 10th consecutive year, with a score of 776. Idaho Power (743) ranks second, followed Seattle City Light (741) in third and Colorado Springs Utilities (740) in fourth.

Cooperatives Segment
SECO Energy ranks highest in the cooperatives segment with a score of 789. NOVEC (788) ranks second, followed by Sawnee EMC (786) in third and Southern Maryland Electric Cooperative (SMECO) and Walton EMC rank fourthin a tie (783 each).

The Electric Utility Residential Customer Satisfaction Study, now in its 19th year, measures customer satisfaction with electric utility companies by examining six factors: power quality & reliability; price; billing & payment; corporate citizenship; communications; and customer service. The study is based on responses from 99,145 online interviews conducted from July 2016 through May 2017 among residential customers of the 138 largest electric utility brands across the United States, which collectively represent more than 98 million households.

For more information about the Electric Utility Residential Customer Satisfaction Study, visit http://www.jdpower.com/resource/us-electric-utility-residential-customer-satisfaction-study.

See the online press release at http://www.jdpower.com/pr-id/2017098.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power is headquartered in Costa Mesa, Calif., and has offices serving North/South America, Asia Pacific and Europe. JD Power is a portfolio company of XIO Group, a global alternative investments and private equity firm headquartered in London, and is led by its four founders: Athene Li, Joseph Pacini, Murphy Qiao and Carsten Geyer.

Media Relations Contacts
Jillian Breska; Costa Mesa, Calif.; 714-481-9115; [email protected]
John Roderick; St. James, N.Y.; 631-584-2200; [email protected]

About JD Power and Advertising/Promotional Rules www.jdpower.com/about-us/press-release-info

 

Timely Greetings, Customer Appreciation by Appliance Retailers Prove Valuable, JD Power Finds

2017-07-11

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COSTA MESA, Calif.: 12 July 2017 — Best Buy ranks highest in customer satisfaction with appliance retailers in a growing consumer market that exceeds $24 billion a year, according to the JD Power 2017 Appliance Retailer Satisfaction Study,^SM released today.

“Staying true to such sales basics as customer greeting, appreciation and clean displays are proving to be important aspects related to increased customer satisfaction,” said Greg Truex, senior director of the at-home practice at JD Power. “By training staff to be attentive to both customer and visual details, retailers may be able to keep those loyal customers and increase sales as the market increases over the next few years.”

The study finds that the three key performance indicators (KPIs) that have the greatest effect on satisfaction are (in order of importance) sales staff greets customers promptly; salesperson thanks customer for the purchase; and appliance display arranged neatly. There is a significant association with likelihood to repurchase and recommend and the number of top KPIs met. When each of the top three KPIs are met, 50% of customers say they “definitely will” repurchase from the retailer. When only two KPIs are met, that percentage drops to 29%. When just one KPI is met, the percentage drops even further to 17%.

From the initial in-store greeting to receiving assistance from a store employee, timeliness is the key to customer satisfaction, as the expectation for these interactions to occur is two minutes or less. Customer satisfaction drops significantly from 881 (on a 1,000-point scale) to 834 when the initial greeting takes more than two minutes. It is also critical for store employees to respond in a timely manner when a customer asks for help. Similarly, overall satisfaction declines significantly when a customer waits more than two minutes to be assisted, compared with waiting less than two minutes (830 vs. 870, respectively).

Following are some loyalty findings of the study:

• Among delighted customers (overall satisfaction scores of 901 and above), 69% say they “definitely will” repurchase from the retailer, compared with the overall study average of 39%.
• Nearly three-fourths (74%) of delighted appliance retailer customers say they “definitely will” recommend the retailer to others, compared with the overall study average of 43%.
• Among delighted customers, the average number of positive recommendations is 4.0, compared with the overall study average of 2.7.

Appliance Retailer Satisfaction Rankings

Best Buy (857) ranks highest in customer satisfaction among appliance retailers and performs particularly well in all seven factors contributing to overall satisfaction. Lowe’s (840) ranks second, followed by The Home Depot (839) in third. Overall satisfaction with appliance retailers in 2017 is 838 points, up from 821 in 2016.

Now in its 10th year, the Appliance Retailer Satisfaction Study measures customer satisfaction with appliance retailers by examining seven factors (in order of importance): sales staff and service; store facility; price; delivery service; sales and promotions; merchandise; and installation service. The study is based on responses from 2,822 customers who purchased major home appliances from a multiregional appliance retailer within the previous 12 months. The study was fielded in February-March 2017.

For more information about JD Power solutions for the home improvement industry, visit http://www.jdpower.com/industry/home-improvement.

See the online press release at http://www.jdpower.com/pr-id/2017099.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power is headquartered in Costa Mesa, Calif., and has offices serving North/South America, Asia Pacific and Europe. JD Power is a portfolio company of XIO Group, a global alternative investments and private equity firm headquartered in London, and is led by its four founders: Athene Li, Joseph Pacini, Murphy Qiao and Carsten Geyer.

Media Relations Contacts
Jillian Breska; Costa Mesa, Calif.; 714-481-9115; [email protected]
John Roderick; St. James, N.Y.; 631-584-2200; [email protected]

About JD Power and Advertising/Promotional Rules www.jdpower.com/about-us/press-release-info

 

Big Satisfaction Gap Exists between Large and Small Business Internet and Phone Line Customers, JD Power Finds

2017-07-20

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COSTA MESA, Calif.: 20 July 2017 — Small businesses are significantly less satisfied with their telecom providers than large enterprise customers. According to the JD Power 2017 U.S. Business Wireline Satisfaction Study,^SM released today, small business customers face longer customer service wait times, lower problem resolution rates and less dedicated account support, all of which contribute to lower overall satisfaction with their telecom providers.

“The small business telecom customer experience is very similar to the residential customer experience vs. large enterprise customers who are receiving a much higher level of dedicated service,” said Peter Cunningham, technology, media & telecommunications practice lead at JD Power. “That’s weighing heavily on relative levels of customer satisfaction. Reshaping the account representative model for the small business customer may hold the answer to this challenge. Customers who know they can call a dedicated representative are much more satisfied than those who blindly call into a call center and spend too much time on hold.”

The study measures overall satisfaction among three key segments: very small business (1-19 employees); small/midsize (20-499 employees); and large enterprise (500 or more employees). Satisfaction is measured across six factors: performance and reliability; cost of service; communications; sales representatives and account executives; billing; and customer service. Satisfaction is calculated on a 1,000-point scale.

Following are some of the study’s key findings:

• Overall satisfaction scores significantly lower for small businesses: Overall satisfaction with business wireline services is 729 in the very small business segment; 787 in the small/midsize business segment; and 815 in the large enterprise segment.

• Communication, cost and customer service drive rift: The widest gaps in satisfaction between large enterprise businesses and very small businesses are in communication (804 vs. 701, respectively); cost of service (789 vs. 672); and customer service (818 vs. 695). The average customer service hold time is 5.3 minutes for large enterprise customers; 5.9 minutes for small/midsize business customers; and 8.9 minutes for very small business customers.

• Dedicated account support key to happier customers: Customers who have an account representative assigned to their business have notably higher levels of overall satisfaction (834) than those who contact a general call center (751). Customers with a representative also have a more positive brand image of their provider and are more likely to characterize their telecom company as customer focused. Large enterprise customers are most likely to have an account representative (61%), followed by small/midsize business customers (41%) and very small business customers (12%).

• Role for mobile app: Across all business segments, billing satisfaction is notably higher among customers who view their bill using a mobile app or text message (873), compared with those who use a website or email (838) or traditional paper bill (824). Still, just 17% of business customers use a mobile app or text message to view their bills.

In the large enterprise business segment, Verizon ranks highest with an overall score of 821. Verizon also ranks highest in the small/midsize business segment (816) and in the very small business segment (762).

The 2017 U.S. Business Wireline Satisfaction Study is based on responses from 3,102 business customers of data and voice services in the United States and includes evaluations of their data and voice service providers. The study was fielded from April to June 2017.

For more information about the 2017 U.S. Business Wireline Satisfaction Study, visit http://www.jdpower.com/resource/us-business-wireline-satisfaction-study.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power is headquartered in Costa Mesa, Calif., and has offices serving North/South America, Asia Pacific and Europe. JD Power is a portfolio company of XIO Group, a global alternative investments and private equity firm headquartered in London, and is led by its four founders: Athene Li, Joseph Pacini, Murphy Qiao and Carsten Geyer.

Media Relations Contacts

Geno Effler; Costa Mesa, Calif.; 714-621-6224; [email protected]

John Roderick; St. James, N.Y.; 631-584-2200; [email protected]

About JD Power and Advertising/Promotional Rules www.jdpower.com/about-us/press-release-info

 

JD Power 2017 Manufacturer Website Evaluation Study Cross-Device—Summer

2017-07-20

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COSTA MESA, Calif.: 20 July 2017— The JD Power 2017 Manufacturer Website Evaluation Study Cross-Device^SM—Summer is a semiannual study that measures the usefulness of automotive manufacturer websites during the process of shopping for a new vehicle by examining four key measures (in order of importance): information/content; appearance; speed; and navigation.

This study finds that overall satisfaction averages 827 for the smartphone platform, significantly higher compared with 814 for desktop, based on a 1,000-point scale. In addition, the gap in satisfaction between smartphone and desktop shoppers increased for several key measures: information/content (822 vs 804); appearance (850 vs 832); speed (817 vs 808).

It is noteworthy, however, that the ranking of manufacturers’ websites varies considerably between smartphone and desktop shoppers. This variation reflects the challenges manufacturers face as they work to deliver world-class shopping experiences across a variety of devices.

Now in its 18^th year, the JD Power Manufacturer Website Evaluation Study was fielded in May 2017.

Media Relations Contacts

Geno Effler; JD Power; 714-621-6224; [email protected]

Jillian Breska; JD Power; 714-481-9115; [email protected]

 

Vacuum Manufacturers Clean Up in Customer Satisfaction, JD Power Finds

2017-05-16

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COSTA MESA, Calif.: 17 May 2017 — Vacuum manufacturers have achieved significant year-over-year improvements in customer satisfaction, according to the JD Power 2017 Vacuum Satisfaction Study^SM released today. Overall satisfaction among upright vacuum customers increases to 816 (on a 1,000-point scale) from 802 in 2016 and, among canister vacuum customers, satisfaction increases to 811 from 787 in 2016.

“We’re seeing significant year-over-year satisfaction increases in performance, ease of use and features,” said Greg Truex, senior director of the at-home practice at JD Power. “Vacuum manufacturers are being proactive in designing products that meet the ever-changing expectations of consumers. The challenge for manufacturers lies in their commitment to maintain that business strategy and to be vigilant in identifying consumers’ expectations.”

Following are some of the findings of the 2017 study.

• Driving satisfaction: Overall satisfaction gains are driven by increases in performance; ease of use; and features for both upright and canister vacuums. By segment, performance satisfaction significantly increases for upright vacuums to 836 from 821 in 2016, and to 837 from 810 for canister vacuums. Ease of use satisfaction significantly increases for upright to 842 from 829 in 2016, and to 832 from 809 for canister. Features satisfaction significantly increases for upright to 814 from 788 in 2016 and to 810 from 781 for canister.

• Satisfaction drives loyalty: Among delighted customers (overall satisfaction scores of 900 and above), 75% say they “definitely will” repurchase the brand, compared with the study average of 36%. Additionally, 78% of delighted customers say they “definitely will” recommend the brand to others, compared with the study average of 41%.

• Delight equals recommendations: Among delighted customers, the average number of positive recommendations is 4.7, compared with the study average of 3.1.

Upright Vacuum Rankings

Shark (834) ranks highest in customer satisfaction among upright vacuum brands, performing particularly well in two of the six factors: ease of use and price. Dyson (832) ranks second, performing highest in performance and styling/appearance. Miele ranks third with 817.

Canister Vacuum Rankings

Dyson (844) ranks highest in customer satisfaction among canister vacuum brands, performing particularly well in four of the six factors: ease of use; features; styling/appearance; and warranty. Miele (837) ranks second, performing highest in performance. Shark ranks third with 822.

Stick Vacuum Rankings

Dyson (831) ranks highest in customer satisfaction among stick vacuum brands, performing particularly well in three of the six factors: ease of use; performance; and styling/appearance. Samsung and Shark (824 each) rank second in a tie. Samsung performs highest in features; price; and warranty. Electrolux ranks fourth with 823.

The 2017 Vacuum Satisfaction Study measures satisfaction with upright, canister and stick vacuums by examining six key factors of the experience (in alphabetical order): ease of use; features; performance; price; styling/appearance; and warranty. The study is based on responses from 6,965 customers who purchased an upright, canister or stick vacuum within the previous 12 months. The study was fielded in February-March 2017.

For more information about the JD Power Vacuum Satisfaction Study, visit http://www.jdpower.com/resource/us-vacuum-customer-satisfaction-study

See the online press release at http://www.jdpower.com/pr-id/2017059

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power is headquartered in Costa Mesa, Calif., and has offices serving North/South America, Asia Pacific and Europe.

Media Relations Contacts

Geno Effler; Costa Mesa, Calif.; 714-621-6224; [email protected]

John Roderick; St. James, N.Y.; 631-584-2200; [email protected]

About JD Power and Advertising/Promotional Rules www.jdpower.com/about-us/press-release-info

 

Nearly One-Third of Residential Customers Report Water Quality Problems, JD Power Finds

2017-05-17

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COSTA MESA, Calif.: 17 May 2017 — Nearly one-third (32%) of residential customers reported some type of water quality problem in the past year, according to the JD Power 2017 Water Utility Residential Customer Satisfaction Study,^SM released today. Among the specific problems reported, pressure too low, bad taste, discoloration and scaling/water hardness had the most significant negative effect on customer satisfaction.

“There is a significant need for major investment in water infrastructure nationwide and in order for the water utilities to be able to make that investment, getting the backing of their customers is going to be key,” said Andrew Heath, senior director of the utility practice at JD Power.  “Understanding the voice of the customer—both in terms of what specific factors drive negative sentiment and which are most closely associated with positive performance—will be central to water utilities’ ability to achieve the customer support necessary to support the improvements they need.”

The JD Power 2017 Water Utility Residential Customer Satisfaction Study measures satisfaction among residential customers of 87 water utilities each delivering water to a population of at least 400,000 people and reported in four geographic regions: Midwest, Northeast, South and West. Overall satisfaction is measured by examining 33 attributes within six factors (listed in order of importance): delivery; price; conservation; billing and payment; communications; and customer service. Satisfaction is calculated on a 1,000-point scale.

Following are the key findings of the 2017 study:

• Bad taste and hard water have significant effect on satisfaction: Customers who experienced water quality problems had significantly lower delivery satisfaction scores than those who experienced no problems. Bad taste and scaling/water hardness were associated with a 129-index point decline in delivery satisfaction scores, while bad smell was associated with a 135-point decline and discoloration was associated with a 115-point decline.
• Awareness of conservation, environmental initiatives increases satisfaction: When customers are aware of their utility’s conservation programs, conservation satisfaction scores leap to 711 vs. 561 among those who have no awareness. Likewise, awareness of the utility’s efforts to improve the environment is associated with a conservation satisfaction score of 785 vs. 634 among those who are unaware of such efforts.
• Communication, news media recall builds satisfying relationships: Water utilities that communicate with their customers are more likely to build satisfying customer relationships. Communications satisfaction score is higher when a customer recalls a communication in the last three months from their water utility than when they don’t recall a communication (714 vs. 612, respectively). This trend also holds when customers recall hearing about their water utility in the news media (677) versus those who do not (637).
• Frequent communication maximizes satisfaction: Customers who recall receiving six or more communications from their water utility have communications satisfaction scores that are 203 points higher than those who do not recall receiving any direct communications.
• E-bill satisfaction higher than paper bill: Billing and payment satisfaction among the 30% of customers who receive their bill electronically is much higher than among those who receive a paper bill (788 vs. 747, respectively).  

Study Rankings by Region

The following utilities rank highest in customer satisfaction in their respective regions:

• Midwest: Saint Paul Regional Water Services
• Northeast: NYC Environmental Protection
• South: Miami-Dade County
• West: Seattle Public Utilities

The 2017 Water Utility Residential Customer Satisfaction Study is based on more than 40,000 responses, representing more than 87 million residential customers of the 87 largest water utilities across the United States. The study was fielded in four waves between June 2016 and March 2017. 

For more information about the 2017 Water Utility Residential Customer Satisfaction, visit http://www.jdpower.com/resource/us-water-utility-residential-customer-satisfaction-study

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power is headquartered in Costa Mesa, Calif., and has offices serving North/South America, Asia Pacific and Europe.

Media Relations Contacts
Geno Effler; Costa Mesa, Calif.; 714-621-6224; [email protected]
John Roderick; St. James, N.Y.; 631-584-2200; [email protected]

About JD Power and Advertising/Promotional Rules  www.jdpower.com/about-us/press-release-info

 

Utility Rebates, Programs Drive Satisfaction—But Few Customers Participate, JD Power Finds

2017-05-23

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COSTA MESA, Calif.: 25 May 2017 — Special programs offered by electric utilities—such as rebates on high-efficiency lightbulbs—drive significant increases in utility customer satisfaction, according to the JD Power 2017 Utility Products and Services Study^SM, released today. However, awareness and participation rates for many of these programs remain stubbornly low.

“The nation’s electric utilities are sitting on a treasure trove of customer goodwill in the form of special programs,” said Adrian Chung, director of the utility practice at JD Power. “But a great deal of that potential is going unclaimed by customers who are either unaware of or unwilling to avail themselves of these offerings. Efforts spent increasing customer awareness for these programs could pay dividends down the road in the form of higher overall customer satisfaction.”

The study, now in its fifth year, measures the level of residential customers’ engagement with their electric utility’s programs, products and services and is based on responses from customers of electric utilities throughout the United States. The study provides electric utilities with insights into customer awareness, familiarity and usage of their utility’s programs, products and services; ease of enrollment and participation in these offerings; and the effect these offerings have on the overall customer experience.

Following are key findings of the 2017 study:

• Mere awareness increases customer satisfaction: Satisfaction among electric residential customers who are aware of products and services offered by their local utility is 79 points higher than among those customers who are unaware of such programs.

• Participation rates still low: Just 18% of electric residential customers participate in special programs offered by their utility. More customers are aware of the programs, but do not participate (49%), and a sizable percentage (33% residential) are not aware of the programs at all.

• Most desirable offerings vary by region: The most desirable single product or service among electric residential customers in the East, South and West regions is peak time savings. In the Midwest, high-efficiency lightbulb rebates are at the top of the wish list.

• Businesses show greater awareness and satisfaction: Across virtually every category measured, business customers show higher overall awareness (56%); participation levels (29%); and levels of satisfaction than do residential customers—107 points higher among those customers who are aware.

The  2017 Utility Products and Services Study is based on more than 52,000 responses from residential customers of 138 electric utilities throughout the United States that represent nearly all of the industry’s largest electric utility brands by number of customers served. The study was fielded in July-August 2016 and January-February 2017.

For more information about the JD Power Utility Products and Services Study, visit http://www.jdpower.com/resource/jd-power-utility-products-and-services-study.

See the online press release at http://www.jdpower.com/pr-id/2017064.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power is headquartered in Costa Mesa, Calif., and has offices serving North/South America, Asia Pacific and Europe.

Media Relations Contacts
Geno Effler; Costa Mesa, Calif.; 714-621-6224; [email protected]
John Roderick; St. James, N.Y.; 631-584-2200; [email protected]

About JD Power and Advertising/Promotional Rules  www.jdpower.com/about-us/press-release-info