The two most satisfying industries are television and video game manufacturers, and credit unions.
Filed under the category of information we already know, the latest American Customer Satisfaction Index shows cable television companies and internet providers rank last among 43 industries.
The American Customer Satisfaction Index (ACSI) is the only national cross-industry measure of customer satisfaction in the United States. The index measures the satisfaction of U.S. household consumers with quality of products and services offered by both foreign and domestic firms with significant share in the U.S. markets. Each year, approximately 70,000 customers are surveyed about the products and services the use the most. More than 300 companies are rated in 43 industries and 10 economic sectors.
According to the ACSI, the rating of cable or subscription TV services was 63 on a scale of 100, the lowest score among the 43 industries covered. The scores, coming from more than 14,000 interviews in the first quarter of 2015, showed Time Warner Cable was at 51, while the score for Comcast was at 54.
“There was a time when pay TV could get away with discontented users without being penalized by revenue losses from defection customers, but those days are over,’’ said ACSI Chairman and founder Claes Fornell. “Today, people have more alternatives than ever before. Consumer abandonment of pay TV is shaking up the industry and lower satisfaction could mean even more cord-cutting by subscribers ahead.”
According to the ACSI, the rating for high-speed Internet providers is also at 63, matching cable TV service as the lowest-rated industry. The most popular ISP was AT&T, which edged out Verizon with scores of 59 and 58.
The U.S. Postal Service tied landline telephone services at a rating of 69, while wireless telephone service came at a rating of 70.
While satisfaction with wireless telephone service companies dropped, the ACSI showed that the size of the company relates to satisfaction, or dissatisfaction. The smaller companies had higher ratings, which is believed to be related to lower fees and no-contract agreements.
In a piece by Jim Saska of Slate.com, he noted that most of the poorly rated services come under the heading of Necessary Evils. If you want to binge-watch your new favorite TV series, you need a cable service or Internet provider. If you want to be able to communicate with friends and family endlessly all day long, you need a wireless telephone provider.
“They provide something we don’t actually want but that we need to get what we actually do want,’’ Saska writes. “They are middlemen.”
Airlines are necessary evils to get from one place to another, and health care insurance is required by law. These are companies we have to deal with, which makes them immediately dislikeable to many consumers.
The two most satisfying industries were televisions and video players (86), and credit unions (85). Several industries were tied with an overall rating of 82 – automobiles, full-service restaurants, internet brokerage, internet retail, personal care and cleaning products, and soft drinks.
Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.
In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.
McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.
McDill is the father of four children, and an active fan of soccer, Jimmy Buffett and all things Disney.