As the expectations of home appliance purchasers continue to evolve, retailers must understand their customers and their experiences to ensure and reap the benefits of high levels of customer satisfaction. Knowing how customers evaluate your company’s practices and services, compared with those of competitors, helps increase your competitive advantage by targeting performance improvement initiatives that may increase overall customer satisfaction as well as customer loyalty and recommendations, and create retailer loyalty.
The large business commercial insurance market is a unique niche for which there is very limited information available on competitors. With no benchmark or industry-wide baseline for customer satisfaction, how can insurers identify their own strengths and weaknesses—and those of their competitors—in responding to customers’ expectations? Further, how can insurers address critical customer issues that impact loyalty and retention?
Rockwell Clancy is the Vice President of Financial Services at J.D. Power. Since 2006, he has overseen the company’s syndicated studies, proprietary research, consulting and performance improvement programs for consumer financial services, capturing the Voice of the Customer through 150,000 surveys per year.
Today’s new-vehicle buyers face a complex marketplace, one in which decisions related to both vehicle acquisition and financing alternatives are approached with caution and scrutiny. Consumers’ expectations go beyond obtaining a competitive interest rate and/or monthly payment. As the relationship with their finance provider progresses, customers demand efficient servicing and support from knowledgeable staff throughout the life of their loan/lease.
In today’s digital age, consumers research product information in a variety of different ways—and often at the click of a button. It’s critical for automotive manufacturers and third-party website companies to maximize the ability to engage with and assist shoppers in their search for newvehicle information. It’s equally important to understand how shoppers utilize digital information on websites and apps through a variety of devices including smartphones and tablets—in order to determine the most effective ways to reach in-market shoppers effectively across the digital landscape.
Several years ago, on a hot summer day, I was dreading getting into my vehicle. Although the unbearable heat inside my vehicle only lasted for a short time as the air conditioner quickly did its job, I wished that my vehicle could sense the need for a cool environment and automatically turn on the air-conditioning system before I got in.
Finally, my dream is being realized. Many automakers are developing vehicles equipped with remote control systems that are enabling the “smart vehicle concept” to become reality.
Sam joined CarGurus (NASDAQ: CARG) in 2014 and has served as Chief Operating Officer since 2017. In this role, he leads worldwide sales and business operations for the company. CarGurus operates automotive marketplaces in the United States, Canada, the United Kingdom and Germany.
GAC Motor, the Chinese automaker that plans to sell models here in the United States in late 2019, unveiled an extreme, futuristic Enverge SUV Concept with gull-wing doors in Detroit this week. GAC Motor is not the only Chinese automaker to manufacture vehicles for the U.S. market. General Motors sells the Chinese-made Buick Envision here, and Swedish automaker Volvo is owned by China’s Geely Group.