Customer Experience News & Trends

What industry provides the lowest-rated service?

Some industries struggle to shake a bad customer service reputation. Customers reveal which they like the least.

Half of the companies in the newest MSN Money’s Customer Service Hall of Shame are from the banking and financial industry. Cable companies account for a third of the top 10 list.

Whey the bad rap? Researchers noted that industries that tend to have a monopoly (banks and their ATMs saturate one area, cable companies are the only available in many communities) also score low on customer satisfaction.

The good news is that these companies are working to improve service and satisfaction even when they have a captive audience.

Some examples:

  • Capital One (No. 10 on the list) has worked to have all of its contact centers certified by J.D. Power and Associates.
  • Citigroup (No. 9 on the list) has included customer satisfaction scores into contact center agents’ compensation packages.
  • JPMorgan Chase (No. 8 on the list) has improved communication with customers by clarifying documents and terms, and eliminated several fees that left customers up in arms.

If you’re in the financial industry and your contact center struggles with customer satisfaction ratings, a conference devoted to customer experience for the financial industry might help. Even if you aren’t in the industry, you can learn from successful case studies shared at the Customer Experience for Financial Services in New York on Nov. 29-30.

Subscribe Today

Get the latest customer experience news and insights delivered to your inbox.