Banks and Utilities are among the top performing sectors in the 2015 UK Customer Service Results
The results published from the Institute of Customer Services’ UK Customer Satisfaction Index (UKCSI) published this month show some very interesting results.
The survey, the largest of its kind in the UK, includes 13 different sectors. It reports on the analysis of 39,000 responses from 10,144 customers who were identified as geographically and demographically representative of the UK population…. It’s worth a look!
The survey headlines that overall customer satisfaction in the UK has fallen to its lowest point since 2010. Those sectors who have shown the best results are in the banking and utility sectors. For different reasons, both sectors are under pressure to introduce substantial organisational change in terms of structure and the manner in which they compete in the market.
A Spotlight on Banking
With a huge amount of high street banks closing branches and the fall out of the 2008 financial crisis, banks are having to make better friends with their customers in order to survive and to build back trust. Many customers are still reeling from being miss-sold products, refused business loans, and in some cases, having been unnecessarily bankrupted! The gap between disappoint and delight has been broad; it is good to it closing at last.
A Spotlight on Utilities
Before the fall in oil prices, which is now impacting on the price of electric and gas, power companies were looking to gain the competitive edge, as well as reduce the high number of complaints. The 2015 UK Customer Service Results show that there this has impacted positively on the consumer experience.
Interestingly, three water companies are amongst those who have improved their customer service. Many water companies are preparing themselves for massive change brought in by the Water Bill, introduced to parliament in 2013. The Bill included the legislative changes to establish a new market for retail water and sewerage services to non-domestic customers in England. This will happen in 2017.
Managing change isn’t easy however, it is evident that those who are facing change are using it as a real opportunity to establish improvements to the way customers are dealt with and no doubt, see it as opportunity to upskill their people.