A brand experience survey indicated an average of 71 percent of consumers do not believe their services providers are meeting expectations. Photo: 123rf
A majority of consumers think the businesses they deal with are failing to deliver on their brand promises, according to a survey.
A brand experience report by professional services company Accenture Song in New Zealand indicates an overall average of 71 percent of consumers do not believe their services providers are meeting expectations.
The survey which looked at 80 New Zealand brands, found more than three-quarters (78 percent) of consumers who used travel services in the past year gave their provider a thumbs down, followed by disappointment with media and entertainment and general insurance (72 percent), telecommunicaitons (70 percent), retail including groceries (69 percent), utilities (66 percent) and financial services (63 percent).
Accenture advertising chief business officer Storm Day said part of the problem was businesses cutting back on costs.
However, she said prioritising profit over customer expectations could be more costly in the long run as it was difficult to rebuild brand value, once lost.
"When customers see such a vast gap between a brand's promise and the experiences they encounter, their trust for the brand erodes," she said.
"Promising one thing and letting customers down when it comes to the experience is detrimental."
She said there were tools available to help businesses meet customer expectations.
"Technology offers enormous potential to help companies live up to their promises," Day said.
"We're helping clients use generative AI to personalise the customer experience."