Broker Opportunity: Survey says human interaction a vital component of customer service

The 11th annual Accenture Global Consumer Pulse Survey measured the experiences of 24,489 customers in 33 countries and across 11 industries to assess consumer attitudes toward marketing, sales and customer service practices.

The results show that even in the “digital age,” human interaction remains a vital component of customer satisfaction. Eighty-one percent of Australian consumers prefer dealing with human beings over digital channels.

Furthermore, 55 percent of consumers have switched providers in the past year due to poor customer service. In the United States, the estimated cost of customers switching due to poor service is $1.6 trillion.

The survey finds human interaction is vital to customer satisfaction, seventy-seven percent of US consumers prefer dealing with human beings for advice,forty-eight percent of Aussie customers are willing to pay more for better customer service compared to forty-five in the U.S and sixty-one percent of consumers won’t go back after they’ve switched providers.

This survey is important because it emphasises, while we have this massive push for a digital world, customers still value the personal human touch.

NIBA CEO, Dallas Booth says “It is absolutely going to stay the same in the future and is critical for for brokers to understand it is only through the personal relationship with clients that they can demonstrate the value they bring to the situation. If they are just processing transactions on the computer, the actual value of broking will disappear and the cheapest possible form of automated processing will take over. Then the potential role of a broker will diminish if not disappear. If the advice takes prominence, value chain occurs which I am convinced good brokers continue to do; there is a very strong future, this survey just reinforces this view. This is entirely consistent with the VERO SME Index report and just goes to show the critical nature of advice and the relationship which underpins the advice process.”

With insights from more than 1,500 SMEs across Australia, the Vero SME Insurance Index found that 58% of highly satisfied broker clients are happy to pay more for better service and it has never been this important to know one’s clients.

To hear Ravi Dutta and other expert speakers discuss consumer behavioural insights at the 2016 NIBA Convention, 11-13 September in Melbourne register here.