Nokia Setting New Customer Experience Standards
Unless you’ve been living under a rock, you probably know that over the last 5 years, things have not been great for the Finnish communications company, Nokia. Once the very company that defined the mobile industry, the tech giant’s delayed embrace of the smartphone revolution was one of the main drivers that brought it down.
Despite this strategic mistake, Nokia's renewed focus on customer experience and satisfaction is producing promising results. The company announced in early November updates to its Motive Customer eXperience Solutions (CXS) software portfolio, which aimed to give communications service providers more advanced machine learning capabilities. Such updates will help operators reduce costs and improve customer experiences.
Sheryl Kingstone, research director of Business Applications at 451 Research, recently shared: "Reducing the complexity around customer care, providing a personalized experience and introducing self-service are key to maximizing customer satisfaction and improving Net Promoter Scores. By embedding machine learning into customer care offerings, operators can provide relevant and engaging customer journeys across new channels of interactions, which are integral to success in today's digital world."
Vodacom’s Customers are More Loyal than Ever
The African mobile communications company, Vodacom, has reported that its continued network investment and improved customer service has resulted in a more loyal customer base. In a recent interview, the group’s CEO has shared that Vodacom’s commitment to customers and service improvements has helped the brand reduce customer churn from 10.2% to 7.3%. Not too shabby, hey?
What is also particularly impressive is Vodacom’s improved NPS score. As part of their ongoing customer service strategy, the mobile communications company now has a 17-point NPS lead over one of its closest competitors: Cell C (see image below).
Service improvements such as the network’s Just 4 You deals, airtime and balance notifications and dropped calls compensations have also helped Vodacom achieve its biggest NPS lead to date: a 21-point lead over MTN.
“These results came with a lot of investment and effort,” said CEO Shameel Joosub, adding that Vodacom will continue to invest in its operations.
Jabong Records 50% Growth in Net Revenues in October
Profits have been an alien concept for fashion e-tailer Jabong. Sanjeev Mohanty of Jabong has shared that the company’s focus on discounting and promotions has all led to mounting losses for the e-tailer. As a result, Jabong quickly realised it was in need of a turnaround. Focus on profits led to the fashion portal aligning its future strategy around key pillars such as key growth segments, moving away from discounting and new UI/UX that is more user-friendly. In effect, Jabong achieved a positive gross profit for the first time ever, propelled by revenue growth and fulfillment cost reduction.
"Jabong has witnessed a strong turnaround. I am delighted that revenue growth is back on track, margins are getting better and the customer experience has significantly improved," says Jabong CEO Ananth Narayanan.
The company’s 50% growth in net revenues was also accompanied by a surge in Net Promoter Score, making Jabong the second largest online fashion retailer in India.
What About the Top NPS Scores?
Every company loves having a high NPS score. And why wouldn’t they? It is a fast health check metric regarding customer retention and satisfaction. Generally speaking, any score above 0 can be considered a good one, and an NPS that is +50 can be defined as excellent.
However, an important pillar of a continued NPS growth is competitive benchmarking. It allows for comparing a company’s NPS score with that of some of the biggest names in the industry. But where can businesses find the NPS score of their biggest competitor? What about the industry? Happy to share that CustomerGauge has recently shared an infographic with the Top NPS Scores by industry for 2016. Data was compiled using NPSBenchmarks.com—the only open-source place to check a company’s NPS score and compare it to the industry’s standards.
Written in contribution with Amy Dorrell.