This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Verint Global Study Highlights Service As Growing Influencer In The Customer Satisfaction Equation

Stocks in this article: VRNT

Verint® Systems Inc. (NASDAQ: VRNT) today announced results from a new customer satisfaction survey of more than 7,000 consumers throughout the United States, United Kingdom, France, Germany, Poland and Russia. The research explores consumers’ attitudes on services provided by organizations in five sectors (phone, TV and broadband services, financial services, retail, utilities and public services) worldwide. Key findings paint a picture of consumers that increasingly value service, are less responsive to conventional marketing approaches and are ready to share their views on social media.

Service as Important as Price by a Two-to-One Margin

Of consumers polled, 48 percent disagreed with the statement “price is the only thing that matters to me—service is secondary.” However, 22 percent agreed with the statement, indicating by more than a 2-to-1 margin that service is as important as price. Geographies that had the highest responses to service being as important as price, in order, were: Germany, France, Russia, United States, United Kingdom and Poland.

Less than Half Feel Satisfied with the Customer Service Experience

In totaling all scores, a mere 49 percent agree that they feel satisfied with the customer experience they receive, while 26 percent remain indifferent. Net satisfaction scores were highest in retail (67%), followed by phone/TV/broadband (53%), utilities (49%), financial services (47%) and public services (28%).

Forty Percent Likely to Voice Experiences via Social Media

Forty percent of respondents indicated they’d share either a positive or negative experience via social media. Overall, Facebook, with 19 percent, remained the main social media vehicle for sharing opinions, followed in order by blogs and websites (11%), Twitter (5%), YouTube (4%) and LinkedIn (1%).

“This study clearly shows that there is much more to customers’ actions than merely price sensitivity, even in the current economic climate. As pricing and marketing efforts have declined in importance and effectiveness, customer service has risen,” shares Nancy Treaster, senior vice president and general manager, strategic operations, Verint Enterprise Intelligence Solutions . “Verint believes this reinforces a need for organizations globally to adopt a customer-centric management strategy through which customers’ wants and needs drive a company’s business processes. Customer service needs to gain further adoption as a key strategic initiative in moving the needle for satisfaction which, according to this survey, still has significant room for growth. It’s clear in industries where consumers have more choice that service is seen as a competitive differentiator.”

Additional Research Findings:

Retail Provides Best Holistic View of the Customer

The retail sector seems to have the greatest view into the customer, and overall, most organizations rated fairly positively in response to the question, “I felt the representative I spoke to didn’t have access to all the information they needed at the time that I contacted them.” Retail had the lowest negative score (10%), followed by utilities (14%), financial services (15%), public services (19%) and phone/TV/ broadband (20%).

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,096.36 +122.05 0.72%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,537.8040 -11.4220 -0.25%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs