What do Navy Federal Credit, Disney Parks and Calvin Klein have in common? According to the latest consumer survey by KPMG LLP these brands are among the top 10 in offering the best customer experiences.
In a survey of over 7,500 consumers, spanning 10 business sectors and involving 250 brands, the advisory firm also noted that businesses with top-notch customer service experiences also see more robust top-line growth.
“Financial analysis showed the brands ranked in the top 50 experienced 50 percent higher revenue growth than the bottom 50, and generated earnings before income, taxes, depreciation and amortization growth more than three times higher than the bottom 50,” authors of the report said.
Analysts at the firm said, “companies that offer the best personal, ‘individualized’ experiences to their customers ultimately reap the benefits of higher revenue growth and improved brand standing and loyalty.” Navy Federal Credit was number one on the list followed by USAA and then Disney Parks in third. Calvin Klein ranked fifth. Avon came in at number eight.
Julio J. Hernandez, KPMG’s global customer center of excellence and U.S. customer advisory lead this year, “the concept of individuality and the unique sense of self remain equally relevant — however, now companies must not only show that they know their customers’ names but that they know them as a person.” Hernandez added that today’s “immediate gratifications consumers” want to be and feel “valued and recognized as an individual.”
“In a world where consumers realize that their personal data has value, firms need to understand what information customers want to share and how they want to be engaged,” Hernandez said.
The rankings were based on “six pillars” of customer experience “excellence,” which included integrity, personalization, resolution, expectations, time and effort, and empathy.
Amazon, which ranked number 10, was the benchmark company in regard to trust and personalization, KPMG researchers said. “Its web site greets visitors by name, shows consumers’ shared history and can make suggestions that demonstrate a deep understanding of each customer as an individual — all which contribute to a highly personalized experience for users,” authors of the report said.
KPMG also said in the report that while technology is transforming the customer experience, “many organizations continue to struggle to drive value from their investments due to poor internal alignment around customer experience outcomes.”
The Top 10 Companies With the Best Customer Service
- Navy Federal Credit
- Disney Parks
- H-E-B Grocery
- Calvin Klein
- Jet Blue