Net Promoter News: Wonga NPS +73, APR: 4214%. SurePayroll pays attention to convenience at 50+, 56% of brand owners used NPS, NextUC record month at +43
Wonga: Legal loan shark or financial services innovator?
In stark contrast to most financial services companies, British up-and-comer Wonga claims this week that its Net Promoter Score is +73. According to CEO and co-founder Errol Damelin, “Most of the banks in the UK are negative. The Co-op has a score in the 20s while First Direct has one in the 40s — that’s a good number. Wonga, at 73%, is in Google and Apple territory, and most of the time we’re ahead of these guys.”
The company’s (self-reported) score is indeed very high, and it has grown in leaps and bounds since its founding in 2007. Damelin attributes this to Wonga’s transparency as well as the speed with which it can approve loans – in as little as half an hour. Notwithstanding its impressive growth and advocacy levels, the company has its share of detractors for the high cost of its loans and also arguably unethical advertising practices. Is Wonga a customer service leader or financial predator? For sure, it’s the poorest in society that use these high interest “pay day” loan companies, and even with a high score we hesitate to say these are poster boys for NPS…. You be the judge: The Guardian
Only 7% of US companies self-identify as customer-centric
According to a new survey released this week by the Temkin Group, only 7% of US companies with revenue topping $500 million out of 255 polled believed themselves to be genuinely “customer-centric.”
However, the survey did not reveal only bad news. Within the next three years, 49% of those surveyed want to become leaders in terms of customer experience within their specific markets. And encouragingly, 56% of brand owners used Net Promoter to gauge advocacy levels – up from 49% in an equivalent survey from last year.
If Net Promoter is being used effectively, we will be interested to check back in on this survey over the next few years to see how these companies are faring. Until then, there are plenty more stats for customer experience buffs to read up on at the link. WARC
SurePayroll pays attention to customer convenience
The past several years has seen a mushrooming in the channels people use to keep in touch – social media, texting, instant messaging, emailing, and calling are all ways people communicate at work as well as home.
With this in mind, US online payroll service provider SurePayroll has taken the opportunity to broaden its customer service offering from simply phones and emails to encompass other channels such as IM and web submissions that may be more convenient for its 35,000 customers.
This has contributed to the company’s (self-reported) NPS in the 50s. According to Jamal Ayyad, SurePayroll’s director of customer care, other reasons for the high score are the company’s focus on working to resolve the customer’s issue on the first call, using its CRM system to identify product improvements that would eliminate the need for customers to call, and hiring people who are passionate about customer service rather than people with technical skills. 1to1media
Promoters: Just the beginning?
A criticism of Net Promoter is that while nurturing “promoters” or high levels of advocacy among your customers is all well and good, in reality how often do these promoters actually proactively advocate your product or service to the people around them?
A post this week argues that companies should move beyond promoters to identify “defenders” – customers who are already talking positively about your brand across social media or otherwise. It nominates Salesforce.com as one company which is already proactively developing relationships with these key customers by inviting them to blog, attend events, present panels, and have inside information available to them. And because this is done without financial compensation, it means their words carry a great deal of objective weight within their social circles.
For the record, CustomerGauge advises any company willing to take its customer service to a new level to proactively reach out to its promoters (including the 1% of extremely vocal advocates). It’s something we have been doing for years for a number of clients and know it can be achieved through the framework of Net Promoter surveys. Harvard Business Review
NextUC takes KPIs to next level
Cloud communication provider NextUC has reported “record numbers across the board” for the month of April, including a Net Promoter Score of +43. The startup claimed in a self-puffer that it has recorded “100% product availability for the month, record user adoption, and record website activity.” San Francisco Chronicle
Which Companies are using Net Promoter?
In the last few years we have reported on many companies in Net Promoter News. We have a handy company index here which lists around 300 companies, some with Net Promoter scores – self reported or otherwise. It’s growing each week, and is now probably the largest source of publicly posted scores available. Use it as you need, but do remember that methodologies do vary wildly (one day we hope scores will be more standardised)!