Problem incidence continued to trend downward in 2010, dropping to 18%, its lowest level in 8 years and down 5 percentage points from the previous year. What’s more, the proportion of “significant” problems (as defined by the customer) reached an all-time low of 18%, meaning the more severe the problem, the less frequent the incidence. Conversely, problems considered “minor” accounted for 50% of the total problems experienced by customers in 2010 (vs. 44% in 2009).
The survey results also indicate that significant and moderate problems were primarily technology-related; other concerns involved the quality of customer service.
Customer satisfaction with overall problem resolution experienced a small decrease, to 56% (vs. 58% in 2009). Satisfaction with the resolution of significant problems posted a 5-point improvement, to 44%. However, customers were less satisfied with the handling of minor problems, for which satisfaction declined to 65% (vs. 73% in 2009).
“It’s true for every business: the customer’s perception of overall problem resolution drives satisfaction with virtually every aspect of the relationship,” said Paula Arthus, DTCC managing director, Relationship Management. “We will remain focused on problem resolution as a leading indicator for overall customer satisfaction with DTCC.”