Credit Unions Only Non-Retailer To Make Top 10 List

CAMBRIDGE. Mass. - Credit unions were ranked among the top 10 when consumers were asked about their interactions with various providers, the only non-retailer to make the list.

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The results are part of Forrester Research's 2007 Customer Experience Survey, which asked approximately 5,000 consumers about their interactions with 175 firms in nine different industries.

Results proved that consumers wanted their interactions with customers to be useful, easy and enjoyable.

The list was topped by Costco, Borders and Barnes & Noble, with six other retailers joining to take nine out of the top 10 spots. In addition, all three wholesale clubs-Costco, BJ's Wholesale Club and Sam's Club-made it into the top 10.

Credit unions finished No. 5 on the Customer Experience Index, which essentially seeks to determine how positively consumers rate their experience with a particular firm. The entire top 10 list, from 1 to 10, includes: Costco, Borders, Barnes & Noble, Target, credit unions, Staples, Old Navy. BJ's Wholesale Club, Amazon.com and Sam's Club.

Credit unions and Borders came in first for ease of use, while Costo and Sam's Club led in usefulness, and Borders, Old Navy and Citizens Bank topped in enjoyability.

The survey results were determined using consumer feedback to three questions: 1) Thinking about your recent interactions with these firms, how effective were they at meeting your needs? 2) Thinking about your recent interactions with these firms, how easy was it to work with these firms? 3) Thinking about your recent interactions with these firms, how enjoyable were the interactions?

Consumers selected responses along a five-point scale, ranging from a very negative experience (1) to a very positive experience (5).

Four organizations ended up with "very poor" ratings, including: Charter Communications (for both TV and Internet), Medicaid, Cablevision/Interactive Optimum, and Aetna. To other health insurers-United Healthcare and Anthem-and two large banks-Citibank and JP Morgan Chase-filled out the bottom 10, along with Sprint.

The survey results also offered firms advice of what they can do to improve such as: getting customer experience on the 2008 agenda, looking beyond their industry for best practices, developing an outside-in approach, and assigning and executive leader.

FOR MORE DETAILS

The Customer Experience Index can be ordered online at www.forrester.com/ Research/Document/Excerpt/0,7211,43877,00.html for$279. (c) 2007 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com


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