Tag: Index

Hong Kong – Global transport company Uber has launched its newest index which details some of the most common lost-and-found items amongst Uber cars in Hong Kong, conducted across multiple Uber drivers in Hong Kong.

In 2022, phones and wallets remain the most commonly forgotten items. In addition, the index also shows a surge in the number of lost jewellery items, including wedding rings, a Audemars Piguet® watch and a Tiffany heart pendant.

As cashless payments become increasingly popular not thanks to the pandemic, riders have left behind 60% less cash in Ubers this year. Meanwhile, 1 January is crowned the most forgetful day of the year in 2022 and Hongkongers tend to be more forgetful on Fridays – with most laptops left behind on this day as well.

The index also showed that people are relaxed when the weekend starts and tend to forget their valuables. Among the 18 districts, riders in Yau Tsim Mong are the most forgetful, followed by Central and Wan Chai.

“Hongkongers are always on the go, and you will be surprised what’s supposed to be kept in their bags. Parents and caretakers are leaving behind kid items like a dimple fidget toy and a cute pink bunny soft toy, the astrologer who tried to escape the mercury retrograde left behind a string of pink crystal, a winner who lost in the game of lost & found left behind a crystal trophy, and a Calbee fan left behind a Calbee Hot & Spicy Potato Chips tote bag,” the company said, explaining some of the most unique items left by customers.

The index also encourages its customers to always call their driver if they lost items in the car they booked. If they lost their phone on the Uber itself, customers can log in to their account on their computer and contact customer support.

Australia – Global cross-channel relationship management solution provider Cheetah Digital has recently launched its consumer trends index this year, which unveiled the latest key trends regarding relationship marketing, ranging from privacy trends to loyalty and messaging.

In regards to privacy trends, the index has noted huge rises in those turning to incognito browsing, amounting to a 50% increase, a 48% increase for using a PC cleaner software, a 40% increase in using a password generator, a 37% increase in usage of ad blocking tech, a 31% increase in those paying for premium software, and a 31% increase in usage of a password manager.

Staying on the topic of privacy, the index also noted that users prefer brands to only use data that they have explicitly shared directly to the brand. Other methods such as ads based on location data, retargeting ads derived from tracking cookies, and ads related to something they discussed near a smart device ‘creep’ out users.

Meanwhile, in regards to brand loyalty, around 57% of consumers say they are prepared to pay more to buy from a preferred brand, with loyalty metrics spiking across the board. Among the growing reasons they stay loyal are when brands understand customers as individuals (110% increase), treat their data with respect (71% increase), align with their personal values (58% increase) and offer admirable loyalty programs (55% increase).

Furthermore, consumers’ expectations of the loyalty programs are maturing, with a desire for contests and sweepstakes, increasing to around 73%. Other loyalty initiatives that customers expect include exclusive access and content (58% increase), and personalised product recommendations (56% increase).

Lastly, when it comes to messaging marketing to customers, email remains one of the most effective channels, beating banner ads, social media ads, organic posts, and SMS by up to 108%. Half of consumers report purchasing a product directly as a result of an email they received in the last 12 months. 

Speaking about the index release, Tim Glomb, VP of content at Cheetah Digital, said, “The path to customer acquisition has evolved from a relatively straightforward train track to a bowl of spaghetti, with multiple channels and formats to navigate. Brands can no longer get away with lumping customers into segments, but rather must treat them as individuals. This requires developing authentic relationships, offering real value exchange, and interpreting the right customer signals at the right time in the right channel.”

He added, “This report offers brands an extraordinary opportunity to assess their ability to create and execute campaigns that meet and exceed consumers’ growing demand for more personalisation, more privacy and a deeper relationship with the brands they know and trust.”

Cheetah Digital’s index is available for download here.

Sydney, Australia – The National Australia Bank (NAB) has ranked first among five known banks in Australia regarding its implementation of customer experience to its services, the latest index from research and advisory firm Forrester shows.

NAB has improved its CX quality the most with a 6-point increase over last year, propelling the bank from third to first place in Forrester’s ranking, compared to last year. The bank has also had the highest percentage of customers reporting excellent experiences (47%) and the best performance across all three dimensions of CX quality: effectiveness, ease, and emotion.

The research also noted that among customers of Australian banks who felt valued, 62% plan to stay with the bank, 77% plan to spend more with it, and 84% will advocate for the bank. In contrast, of customers who feel frustrated, only 21% plan to stay with the bank and to spend more with it, and a mere 13% will advocate for the bank.

Riccardo Pasto, principal analyst at Forrester, noted that while banks are racing to elevate the digital experience of their websites and mobile apps, oftenly they neglect the importance of human interactions.

“At a time of strict social distancing and lockdown orders that make in-person interaction not feasible, video chat and other digitally enabled human interactions allow banks to get closer to customers and connect with them on a deeper emotional level. Our research shows that CX leaders grow revenue faster than CX laggards, drive higher brand preference, and retain more customers, who are more inclined to forgive stumbles made by brands with good CX,” Pasto said.

He also added that brands with the best customer experiences during the pandemic shutdown will benefit the most from pent-up demand on the other side.

The index also added that communicating in plain language is one of the top three drivers of CX quality; just 58% of customers say that banks are successful at this. Having transparent interest rates and fees is one of the top four drivers for retaining customers, but just over one-third of banking customers report that banks do a good job with prices and fees (36%), indicating room for improvement.

“Even a minor improvement to a brand’s customer experience quality can add revenue by reducing customer churn and increasing share of wallet. Additionally, superior CX leads to reduced service costs and lowers the cost of customer acquisition through word of mouth,” Forrester said in a press statement.

The index benchmarks the CX quality of brands and is based on a survey of more than 5,000 Australian adult customers, including more than 1,400 customers of five banks, ANZ, Commonwealth Bank of Australia, NAB, Suncorp, and Westpac.

Singapore – The customer experience (CX) among major banking institutions in Malaysia lacks differentiation in execution, found by the latest index from global research and advisory firm Forrester.

Said index observed the CX environment across Malaysian multichannel banks AmBank, Bank Rakyat, CIMB Bank, Hong Leong Bank, Maybank, Public Bank, and RHB Bank. The index notes that all banks fell under the ‘OK’ category, with all scores falling within a very tight range, indicating a lack of differentiation within the industry, primarily driven by the challenge that the Malaysian banks face with building positive emotional engagement with their customers. 

In terms of CX ranking, Maybank emerged as the leading brand and outperformed all other brands in customer retention, with 41% of customers planning to stay with the bank. Across the three key dimensions of CX quality namely ease, effectiveness, and emotion; customers rated Maybank the most effective and easiest to work with. The bank also received positive emotional feedback from 52% of its customers, just below Bank Rakyat’s 53% mark in that category.

“During this tumultuous year, feeling confident, happy, and valued mattered the most to customers to remain loyal to a brand. In such an undifferentiated market, the ability to invoke positive emotions will be critical to delivering differentiated experiences. Our research indicates that 80% of Malaysian firms will be implementing or expanding their digital transformation by the end of 2021 to provide better experiences,” said Tom Mouhsian, principal analyst at Forrester.

Meanwhile, the index noted that among customers in Malaysia who felt valued by their bank, 41% plan to remain a customer, 61% plan to spend more with it, and 69% will recommend it to family or friends. In contrast, among customers who felt frustrated with their bank, only 10% plan to remain with the brand, with 17% planning to spend ‘more’ with it, and just 14% to recommend it to family or friends.

“This investment is not going to be enough, however, to differentiate CX. In addition to investing in digital experiences, businesses must connect emotionally and empathetically with their customers. To achieve this, CX pros must have a disciplined approach to envisioning, designing, and delivering a consistently high-quality customer experience,” Mouhsian concluded.