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Net Promoter News: Customer Service Accounts for Freshbooks' Growth, Tesco's Selfie Vids, Banks, Law Firms Invest in Customer Success

Customer Service Accounts for Freshbooks' Growth

Canadian accounting software company Freshbooks has grown from basement startup to 140 employees and five million clients, and the velocity of the company is such that The Globe and Mail favourably discussed its future prospects in a recent post headlined: The next billion dollar SaaS company? Try looking in Canada.

The company tantalising claims a "really high" NPS. In a wide ranging interview, CEO Mike McDerment reveals that:

  • When new employees join the company, they spend their first month in customer service.
  • He regards social media as "vectors to get closer to your customer." 
  • Rather that going for freemium pricing models as many technology companies do, he advises charging for value. "If you’re creating value, my experience is that the small business owner is willing to pay, and will become your champion very quickly," he said.  

For more insights, check out the Financial Post.

Tesco's Net Promoter Selfie* Vids

VoxPopMe has published a selection of vox pop-style "selfie" videos created by Tesco Promoters, Detractors, and Passives, and broken down some of the key reasons each group gave their respective scores.

[caption id="attachment_10504" align="aligncenter" width="573"]The faces of Tesco Promoters The faces of Tesco Promoters[/caption]

The video format of real customers giving their feedback with a video they shoot themselves is an interesting way to bring Net Promoter feedback into the organisation (or in this case, to the public), and may be a tangible way to get staff engaged with what a selection of customers are saying. We like the idea, but advise that in order to get real results from a Net Promoter program, statistically significant survey rollouts coupled with root cause analysis are obligatory. VoxPopMe

(Related post: Five Ways to Share Net Promoter Feedback)

Banks, Legal Firms Invest in Customer Success

Banks and law firms tend to not be too well known for implementing cutting edge customer success programs. But this week, Lloyds Banking Group and legal firm DWF have both cracked open the lid on their respective uses of Net Promoter and some of the successes they are seeing with the system.

UK legal firm DWF adopted Net Promoter in the middle of last year, and claims it currently has a score of +72. Despite this level of what it calls an "exceptionally loyal client base" feedback has uncovered a number of small ways the firm can really cement customer relationships. “We discovered that one major food client hated to receive messages by voicemail because they’re constantly on the move, while another wanted their emails to be addressed in a certain way, so we changed service level agreements to encompass these things,”  said a company spokesperson. The Lawyer

Meanwhile, Lloyds noted that in the past there had been a big focus on profitability, but ultimately that causes a reputation problem. "We are trying to now build customer trust by putting them at the heart of decisions, using data-driven insights, and create a win/win/win for us, our customers, and our shareholders,” said a spokesperson. "In the past, the majority of banks used to get product insights, then it moved to business insights. The future is about using customers as the starting point.”  CMO

In brief

Industry site Life Health Pro has published an infographic comparing the Net Promoter data for three leading US health insurers - State Farm (score of +45), New York Life (+34), and Allstate (+29).  Life Health Pro

In a landscape where many telecoms have rolled out large-scale Net Promoter programs (see Telstra, Optus, Vodafone)yet customer happiness remains relatively low, Macquarie claims to have an average score "comfortably above 30." BRW

*The author would like to be on record as using this term reluctantly. 

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