NEW YORK, NY -- 08/18/08 --
iPerceptions Inc. (TSX-V: IPE), a leading
provider of web-focused Voice of Customer analytics, announced today that
customer satisfaction with automotive and travel web sites hit a 12-month
low in June 2008 as prices at the pump climbed to over $4.11 per gallon
nationwide. According to the iPerceptions Satisfaction Index (iPSI),
customer satisfaction declined from 7.54 to 7.30 on a 10-point scale
between June 2007 and June 2008. Customer dissatisfaction was also
pronounced on travel web sites, where satisfaction levels fell from 7.12 to
7.00 in the past 6 months.
The drop in customer satisfaction was accompanied by a sharp reduction in
hotel bookings as consumers scaled back travel plans. The average number of
nights spent in a hotel each year by leisure travelers plummeted 28%
between January and June 2008 from 14.7 to 10.6, and business travelers
slashed their hotel stays per year by 25% from 31.4 to 23.6 over this same
period.
Online consumers overwhelmingly cited budget concerns and dissatisfaction
with gas prices when asked for feedback during their online experience. "I
find it unbelievable with the price of gas and the economy in the shape it
is in that you are not making exceptions to your two night minimum stay,"
stated one visitor to a well-known hotel site. "Not the prices I was
looking for," said another. "In a day and age where traveling is getting
harder and harder to do because of gas prices, irrelevantly high priced
hotel rooms just isn't part of the plan anymore."
"Feedback from millions of visitors collected over the past year
demonstrates a clear negative correlation between gas prices and customer
satisfaction on automotive and travel web sites," said Jonathan Levitt,
vice president of marketing at iPerceptions. "As the price at the pump has
spiked, consumers are venting their frustrations online. And it isn't just
that satisfaction is hurting -- measurable business outcomes are falling as
well. In an environment like this, it's critical that marketers tune into
changing consumer sentiment in order to pinpoint opportunities to make
small changes that can positively impact customer satisfaction, conversion
and sales."
About the iPerceptions Satisfaction (iPSI) Index
The iPerceptions Satisfaction Index (iPSI) is derived from 60 million
satisfaction and experience datapoints obtained from over four million
actual website visitors in the context of their actual site visits. The
iPSI covers ten verticals, including automotive, travel, and e-commerce.
Based on research from Dr. Antonio Ciampi of McGill University, the iPSI
features a perceptual framework to isolate and evaluate key elements of the
visitor experience and predictive algorithms and modeling to uncover the
attributes with the greatest impact on satisfaction. As a result, the
iPerceptions Satisfaction Index (iPSI) delivers the clearest and most
accurate understanding of the key issues impacting satisfaction, intent,
task completion and customer loyalty.
About iPerceptions
iPerceptions is one of North America's leading web-focused Voice of
Customer analytics providers. Its webValidator Continuous Listening
solution and Proprietary iPerceptions Satisfaction Index (iPSI), turn
thousands of data points into easy-to-understand strategic and tactical
decision support for website marketers. iPerceptions' clients include such
well-known brands as InterContinental Hotels, General Motors, Dell
Computers, Hyundai, LG Electronics, Toshiba, Choice Hotels International,
BMW and Monster Worldwide. iPerceptions has offices in New York, Toronto,
Montreal and London, UK.
The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this press release.
Media information:
Emily Brady
Brady Public Relations
Tel: 415-606-9350
Email Contact
Investor information:
Jerry Tarasofsky
Chief Executive Officer
iPerceptions Inc.
Tel: 514-488-3600
Fax: 514-484-2600
Martin Faucher
Chief Financial Officer
iPerceptions Inc.
Tel : 514-488-3600
Fax: 514-484-2600
