Big and important news from Broadridge’s 5th annual CX [Customer Experience, we figured out] and Communications Consumer Insights report, “capturing the responses of 4,000+ consumers across North America regarding their preferences for different communication channels, what’s keeping them from going paperless, their concerns about privacy and data security, and more.” The big and important news…
65% of consumers have cut spending with companies that don’t meet their CX standards amid ongoing economic uncertainty.
68% of consumers have lost trust in a company after a poor experience or communication.
The biggest news, we think - 82% of consumers (including us) would go paperless if the digital experience was more engaging.
Much as we love saving issuers money – especially when we own their stock ourselves – your editors still insist on getting hard-copy proxy materials. Why? Because we actually try to read this stuff – and often need to return several times to key sections to “do our jobs” as reporters, IOEs AND as investors. But sorry, folks – most of the E-Versions we look at are just awful to look at, much less to digest – and about as far from being “Engaging” as one could imagine. Please note that retail investors who receive “full packages” in the mail continue to vote their proxies much more frequently than e-only recipients. It shows they are “engaged” to begin with but also, as we have been saying for years, “the push model will always beat the pull model” - where the desire to pull up a voting site, and work one’s way through a dense and non-engaging muddle of info lessens with every passing moment.
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