TV Providers, Streaming Media Hit New Levels Of Customer Satisfaction
While products and services overall have yet to fully regain their pre-pandemic customer satisfaction levels, television/internet providers and streaming media are two of just three categories that exceeded 2019 levels in 2021.
That’s according to The Qualtrics XM Institute, a resource for experience management (XM) professionals, which has been collecting data on trends in customer satisfaction levels for a decade.
The organization analyzes trends in brand loyalty as measured by year-to-year changes in Net Promoter Scores (NPS).
Over the past decade, average NPS scores have fallen by more than 10 points, as consumers reported gradually lower customer satisfaction and loyalty. But the pandemic brought the most dramatic decline across all industries in those 10 years.
Actually, many brands’ NPS scores rebounded last year, resulting in customer satisfaction levels overall returning to two-thirds their pre-pandemic level, on average.
But looking at 2021 NPS scores as a percentage of 2019 scores shows that the recovery was strongest among businesses that provided COVID-19 lockdown essentials, such as fast food, parcel delivery and grocery. (Table, top of page.)
The results confirm that consumers’ appreciation of the importance of online connections and in-home entertainment was certainly heightened: Only TV/internet services (244%), streaming media (107%) and (non-health) insurance (115%) actually exceeded their 2019 satisfaction levels.
In 2020, consumer satisfaction fell the most in travel-related industries and consumer payments (including credit cards and mobile payment services)—and those categories still have the furthest to go to catch up.
“In the early days of the pandemic, I don’t think anyone could’ve predicted the magnitude of the shift in consumer sentiment from COVID-19. But
“It’s no surprise that the organizations in the best shape are the ones that pivoted quickly by responding to ongoing changes in their customers’ needs and expectations,” said Bruce Temkin, head of the XM Institute. “While we’re not out of the woods yet, I expect we are seeing a permanent shift in the value consumers place on innovation and convenience, which will propel companies that find ways to make life easier for their customers.”
For the 2021 analysis, 9,000 U.S. consumers were surveyed about their experiences with 294 or more companies across 20 or more industries. Each company had a minimum of 100 responses from consumers who had interacted with it within the past 90 days. Surveys were conducted in the second and third quarters of 2019, 2020 and 2021.
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January 14, 2022 at 01:26PM