American Express: Tracking Net Promoter all the way to shareholder value
A fascinating interview this week with Jim Bush, EVP of world service at American Express outlines how the company has used Net Promoter to propel it to the leading position for financial services brands in terms of customer service in the US, and how the company is tracking its Net Promoter improvement all the way to its shareholder value.
Among the insights:
- In the past, 75% of customer service training was on how a transaction was completed technically. Now, training focuses on how to create the relationship and build it through humanity, conversation, and engagement,
- No scripts. When a customer calls American Express, the Customer Service professional is presented with a customer profile and other relevant information. This allows the care professional to leverage the power of their personality to build a human relationship suited to the particular customer.
- The company sees a 10% to 15% increase in spending and four to five times increased retention from promoters. In addition, due to streamlining, operating expenses associated with service have been reduced. And even better, since the height of the financial crisis, the company’s stock has considerably outperformed the industry’s index.
Finally, a personal reflection by Jim Bush on his time in the role offered some interesting insights into what motivates a market-beating customer service professional. As with many people, he initially thought of customer service as a back-office operation. But as he considered the millions of interactions the company has with customers, he realized the following truth; “If we can unleash the power of that customer-facing organization, think of the value we can create.”
Not just for your customer, but for your bottom line! CNN Money
Steve Jobs on Customer Service
Steve Jobs famously once said “It is not the customer’s job to know what they want.”
But despite a significant number of punters taking this to mean that Apple doesn’t focus on what customers think, the brand actually uses Net Promoter to track customer sentiment very closely. A Business Standard article this week touches on how Apple uses Net Promoter to fine tune customer service in-store, noting that when customers make a purchase they receive an electronic receipt and sometimes a Net Promoter survey. Any negative responses are followed up by store managers, and results are aggregated and share internally. Customer service is not the reason the brand creates category-defining devices again and again. But it does take customer care extremely serious.
The article also mentions LEGO Group – which collects scores across both online and offline customer service touchpoints. Scores are distributed through the company monthly, and follow-ups are made on all negative responses. Since 2005, scores have improved 26 per cent. Business Standard
Nokia gives earning call, reiterates Asha NPS
In brief: Yesterday Nokia gave its Q1 2012 earnings call, and once again mentioned that its range of Asha smartphones has the highest Net Promoter Scores for any of the company’s mobile phone products. According to CEO Stephen Elop, this was due to the fact that Nokia “delivered consumers more aspirational designs and experiences.”
This may be so, but will it be enough to put a dent in Android sales, let alone Apple? It’s something we’re keeping a close eye on, so stay tuned! Seeking Alpha
SoDA gets Net Promoter Score, claims Outstanding Member Satisfaction
Another non-profit group has adopted Net Promoter as an important metric according to a Virtual Strategy. The Society of Digital Agencies (SoDA) announced in a PR bragger their recent 51% Net Promoter Score, with 60% respondents falling into "Promoter" category. Chris Buettner, SoDA Director of Operations said he was pleased with the results, but was not complacent, and wanted to evolve the programs based on the results. Virtual Strategy
Net Promoter now available Everywhere says CustomerGauge
"These days, everyone is responsible for customer experience" says a senior Electrolux executive, "It's not just the property of the research department or a customer service team". Responding to challenges like this has resulted in the new platform from CustomerGauge who this week announced their "Everywhere" Net Promoter® solution, delivering customer feedback and scores to everyone in the organisation, on desktop and ipad devices.
Comments are delivered in real-time, with the screen updating as customers respond. New features include performance boost with a claimed one million records graphed in around a second, more ways of slicing and dicing data, and language options with German and Italian available already. Wilkommen, Benvenuto! CustomerGauge