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HOW DO YOU COMPARE AGAINST YOUR PEERS?

MORE IMPORTANTLY

HOW DO YOU COMPARE WITH CUSTOMER EXPECTATIONS?

Explore your current state against industry benchmarks and how you can use complaints to drive advocacy.

HOW OFTEN IS YOUR FIRM RESOLVING COMPLAINTS
AT FIRST POINT OF CONTACT?


75% of customers expect their complaints to be resolved immediately. Firms believe they are resolving 40-50% at first point of contact. How can your firm move closer to meeting customer expectations?

How do you compare?

IF A COMPLAINT ISN'T
RESOLVED STRAIGHT AWAY,
HOW LONG SHOULD IT TAKE?

69% OF
CUSTOMERS
EXPECT A
COMPLAINT TO
BE RESOLVED
IN 7 DAYS

Customers understand that some complaints will take longer to resolve than others. However, their expectations are still higher than the average resolution times firms are managing to deliver. How can firms effectively reduce resolution times while ensuring thorough investigation and fair customer outcomes?

How many days does it take your firm to resolve a complaint on average?

FINANCIAL SERVICES
UTILITIES
CUSTOMER EXPECTATION
YOUR FIRM

WHICH CHANNELS
DO YOUR CUSTOMERS WANT TO USE TO COMPLAIN?

As technology evolves, customers have an increasing choice of channels through which to complain. Customers are increasingly seeking convenience and immediacy when choosing channels, with phone, email and webchat proving popular. However, not all firms are offering the options customers are looking for. What changes do firms need to make to take advantage of developing channels and meet customer expectations?

See how communications channel mix compares between customers and firms

Each graph is set to a data limit of 65% to allow for clearer visualisation.

CUSTOMER EXPECTATION
FINANCIAL SERVICES
UTILITIES

A QUARTER OF CUSTOMERS EXPECT COMPENSATION FROM A COMPLAINT

While “seeking financial compensation” doesn’t seem to be the main reason for making a complaint, it is still important for many customers. Utilities providers are much more likely to compensate customers than their financial services counterparts. Can firms reduce their costs by “paying out” less often and, instead, focusing on delivering a better experience?

CUSTOMER EXPECTATIONS
FINANCIAL SERVICES
UTILITIES

WHAT IS THE POTENTIAL VALUE OF YOUR COMPLAINTS VOLUMES?

Our calculation model enables firms to quantify the potential financial impact of providing a poor complaints experience. This can provide the business case needed for investment in the complaints process and changing the internal view of complaints from a 'cost centre' to a 'profit centre'.

£
To see a detailed breakdown of the calculations, view this screen on a desktop view.

NON COMPLAINANTS


0

(Assumes 65% of those affected by a material issue complain, this figure represents the 35% who don't)

SATISFIED COMPLAINANTS


0

(26% of complainants are likely to be satisfied according to our research)

NEUTRAL COMPLAINANTS


0

(10% of complainants are likely to be neutral according to our research)

DISSATISFIED COMPLAINANTS


0

(64% of complainants are likely to be dissatisfied according to our research)


WHAT VALUE WOULD YOU RETAIN IN YOUR BUSINESS IF THESE CUSTOMERS WERE SATISFIED?


£0

(Difference between 75% retention for satisfied customers and 42% retention for non-complainants)


N/A


£0

(Difference between 75% retention for satisfied customers and 57% retention for neutral complainants)


£0

(Difference between 75% retention for satisfied customers and 39% retention for dissatisfied complainants)


WHAT VALUE WOULD YOU GAIN THROUGH ADVOCACY IF THESE CUSTOMERS WERE SATISFIED?


£0

(Assumes, according to our research, 35% of satisfied customers tell 3 people, and 57% become customers)


N/A


£0

(Assumes, according to our research, 35% of satisfied customers tell 3 people, and 57% become customers)


£0

(Assumes, according to our research, 35% of satisfied customers tell 3 people, and 57% become customers)


TOTAL VALUE BEING LOST BY CHURN


£0


TOTAL POTENTIAL VALUE FROM ADVOCACY


£0


OVERALL POTENTIAL VALUE


£0

FOR MORE DATA, INSIGHT AND GUIDANCE

DOWNLOAD

THE COMPLAINTS OUTLOOK

The experts that informed the Complaints Outlook 2019 are also on hand to help you find the solutions that will help your firm deliver complaints excellence. Find out how we can help you by clicking ‘Discover’.