Australian Banks seem to have caught Net Promoter Score fever, judging by the number of them that report on NPS, with admirable transparency. Please keep it up!
WestPac Annual Rep NPS-er
Today we have results from Westpac – Australia’s largest bank, ranked 15 in the the world. They state in earnings release: “NPS is a measure of franchise strength and the propensity of customers to recommend the bank.” Numbers: Westpac RBB’s Consumer NPS improved to -17.6; improving faster than peer average. Westpac RBB’s Business NPS improved to -21.7 closing gap on peers, St.George Consumer NPS improved to -5.1, improving well ahead of major bank peers and closing the gap to Regionals from 27bps (basis points) to 15bps. Source: Age
Hats off to Westpac for being proud of a negative NPS, but they are the best of a bad lot, and credit for improving - see “Oz Banks Ranks” – our previous coverage of Australian Banks.
Arxis go NPS
From a self-puffer: “Arxis Technology Honored with Customer Excellence Award Award Granted by Sage in Recognition of “Exceptional Customer Service”. Won Sage 2008 Customer Excellence Award for Net Promoter Score (NPS) that is more than double the industry average. We say: Too vague – tell us details please, if any PR folk reading. Source: Horse’s Mouth
FixYa Gets Ya Net Promoter
User-feedbacker FixYa reckons it can stand out from crowd with a product-specific and user-generated Net Promoter Score. The end game, explains CEO Yaniv Bensadon,”is to establish a type of Net Promoter Score for products and their manufacturers.” And “As much as there are different review sites out there, none are offering product-specific assistance on demand,” added Bensadon. Sources: Self-Puffer and TechCrunch
EG up by an “Enormous Number”
More proof that PR people struggle with math*… According to news item: “EmploymentGroup Customer Satisfaction Outpaces Industry Average by More Than 400 Percent”. Out-staffer EmploymentGroup (EG) announced 2009 Net Promoter Score is 52, exceeding the U.S. staffing industry’s average by more than four times. Also EG’s Managed Services division (mail/ship/gardening) aced a 67 in its first year of tracking Net Promoter Score. Source: TalentManagement
*You can’t mix points, percent, NPS!
Australian Big Banks Lose out to Smaller Lenders
Australia’s Broker News carries news of CoreData’s survey of a selection of Net Promoter Scores from Bank Services, with a small bank beating the big boys. In the NPS survey, Banking minnow Members Equity Bank (MEB) scored +61.6.
Other banks appeared to be all negative:
- Westpac –29
- ANZ –32
- CBA -40
- St George –40
- NAB -60
Our previous coverage of Aussie banks (mar 2008) here for comparison of last years scores.
Theatre Group’s excellent Net Promoter performance
Sweden’s Södra Teatern surveyed its audience for the third year running. Their Net Promoter Score (in swedish: Ambassadörsindex) was a standing ovation winning 76%. Source ”Publiken gillar Södra Teatern” here
eBay bonus plan includes Net Promoter
AuctionBytes Ina Steiner reports that eBay are focusing on a customer retention strategy, and using Net Promoter to incent behaviour. In eBays new comp plan, executives may lose up to 20 percent of their bonuses if they don’t meet customer retention targets. Source: AuctionBytes