When people are recommending credit cards to their family or friends, they are far more likely to recommend a card from USAA than from HSBC, according to a recent market research study. USAA came out on top for all three of its business categories: credit cards, banks, and insurance. HSBC was at the bottom of the list, ranking low with customers for both banking and credit cards.
The Temkin Group’s 2013 Net Promoter Score Benchmark Study asked people how likely they were to recommend a company to their friend and family—not just credit cards, banks, insurance and other financial companies, but businesses of all types. The 19 industries represented in the survey included airlines, fast food chains, investment firms, parcel delivery services, retail chains and wireless carriers.
The best-rated businesses, which people were most enthusiastic about recommending, were car dealers and grocery stores. Hotel chains and software companies rated highly, as well. The least likely to be recommended were TV and Internet service providers, as well as health insurance. Those three industries were at the very bottom of the list when it came to customer satisfaction.
Businesses with best and worst word-of-mouth
Businesses were ranked according to the Net Promoter Score (NPS), which uses a scale from -100 to +100 to rate customer experience. The higher the company’s NPS, the more likely customers are to recommend it to friends and family.
USAA scored a 66 for their insurance business and a 65 for banking. Along with USAA, the highest-scoring companies in the survey were Amazon.com, Chick-fil-A, Apple, Audi and Nordstrom. On the other end of the scale, HSBC earned a dismal -42 for banking and -24 for credit cards.
Those in the cellar with HSBC were Time Warner Cable, Citibank, Super 8, Charter Communications and Motel 6. Other companies that scored 30 or more points lower than the average for their industry were US Airways, for airlines, and 7-Eleven, for retailers.
USAA and HSBC repeat 2012 performance as highest and lowest scorers
The Temkin Group releases its Net Promoter Benchmark study annually. Last year, USAA took the top two spots for banking and credit cards in the annual survey, and HSBC was at the bottom—also in the banking and credit card categories.