Customer Experience Excellence Fuels Revenue: KPMG | KPMG | US

Better Customer Experience Means More Revenue for Companies: KPMG Analysis

Customer Experience Excellence Fuels Revenue: KPMG

Navy Federal Credit, USAA, Disney top list Amazon the Gold Standard for Personalization and Trust Customer Experience Leaders Fuel 50% Higher Revenue Growth Rates

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A new report from U.S. audit, tax and advisory firm KPMG LLP shows companies that offer the best personal, “individualized” experiences to their customers ultimately reap the benefits of higher revenue growth and improved brand standing and loyalty. The KPMG study also ranked the top consumer “champion” brands in terms of customer experience delivered.


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These findings are from KPMG’s 2018 U.S. Customer Experience Excellence Analysis of more than 7,500 U.S. consumers and 250 brands across 10 business sectors: financial services, grocery, non-grocery retail, restaurants & fast-food, entertainment & leisure, travel and hotels, logistics, utilities, telecommunications and public sector.


According to the report, the companies consumers ranked highest on customer experience delivery are:

1. Navy Federal Credit (first year on the list)
2. USAA
3. Disney Parks
4. H-E-B Grocery
5. Calvin Klein
6. Publix
7. Wegmans
8. Avon
9. Jet Blue
10. Amazon


In its 9th year [Click here for 2017 report], KPMG’s analysis shows the biggest movers up the rankings are SunTrustBank (137 places to #43); Nationwide Mutual Insurance (123 places to #75); Cricket Wireless (90 places to #63); Banana Republic (85 places to #71); and Vistaprint (72 places to #17).


“In 2018, the concept of individuality and the unique sense of self remain equally relevant – however, now companies must not only show that they know their customers’ names but that they know them as a person,” said Julio J. Hernandez, KPMG’s global Customer Center of Excellence and U.S. Customer Advisory lead. “Today’s immediate gratification consumers want to feel valued and recognized as an individual. In a world where consumers realize that their personal data has value, firms need to understand what information customers want to share and how they want to be engaged,”


The brands were ranked across KPMG’s Six Pillars of Customer Experience Excellence – Personalization, Integrity, Expectations, Resolution, Time and Effort and Empathy – to identify the top companies.


The report notes that Amazon is the benchmark when it comes to personalization and trust. Its web site greets visitors by name, shows consumers’ shared history and can make suggestions that demonstrate a deep understanding of each customer as an individual – all which contribute to a highly personalized experience for users.


The study found that personalization is critical to the successful delivery of a customer experience, and a pillar of loyalty and advocacy. Customers want to be known, understood and made to feel important and unique. KPMG noted that personalization requires deep knowledge of the customer and his or her circumstances, and that “poor personalization is like no personalization at all.”


The report found that while technology is clearly transforming the customer experience – many organizations continue to struggle to drive value from their investments due to poor internal alignment around customer experience outcomes.


Financial analysis showed the brands ranked in the Top 50 experienced 50 percent higher revenue growth than the bottom 50, and generated EBITDA* growth more than three times higher than the bottom 50.


To download the full report, please go to: www.kpmg.com/us/CEEreport


*EBITDA – Earnings before income, taxes, depreciation and amortization
 

About KPMG LLP

KPMG is one of the world’s leading professional services firms, providing innovative business solutions and audit, tax, and advisory services to many of the world’s largest and most prestigious organizations.


KPMG is widely recognized for being a great place to work and build a career. Our people share a sense of purpose in the work we do, and a strong commitment to community service, inclusion and diversity, and eradicating childhood illiteracy.


KPMG LLP is the independent U.S. member firm of KPMG International Cooperative (“KPMG International”). KPMG International’s independent member firms have 197,000 professionals working in 154 countries. Learn more at www.kpmg.com/us.

Contact

Christopher Bacey
KPMG LLP
201-505-6194/908-797-5143 (c)
cbacey@kpmg.com
@KPMGUS_News

 

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