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Accenture: Customer Satisfaction Key to Retention

By Kalen Smith, Big4.com Blogger

Accenture recently published its annual Global Customer Survey for 2011. This survey found that maintaining customers satisfaction is becoming a growing concern for companies wishing to retain their customers.

After polling 10,000 consumers in nearly 30 countries, Accenture concluded that two-thirds of customers changed brands last year due to dissatisfaction over the manner in which customer service was handled. This came as a surprise to some researchers, considering that overall satisfaction was higher than 2010.

Although customer loyalty was higher than previous years, only 23% of customers had very high levels of brand loyalty. A slightly higher rate of customers said they had no loyalty at all.

Accenture assessed 10 areas of customer satisfaction. They found that only 33% of customers were satisfied with the wait time for service and only 38% were satisfied with their ability to resolve issues without requesting assistance from an agent. Although their rates of satisfaction have increased over the past year, they still create concerns for service providers.

The report argued that one of the biggest concerns was organizations’ inability to create a means of engaging with their customers. This would include improving digital mediums of communication.

Another mistake companies are making is their inability to recognize the fact that customers are looking to switch providers. Accenture also argued that companies must realize when customers have begun to transition to a new brand and they may be at risk of losing them entirely.

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