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Net Promoter News in brief

Just a couple more snippets for today:

Companies Missing Big Opportunity to Turn Customer Pain Into Competitive Gain, Says CMO Council Report.

Synopsis:  Chief Marketing Officers (CMO) Council self-flagellate over listening to Voice Of Customer. Majority don't compensate staff on customer satisfaction or loyalty. Most don't have programs to track word of mouth.  Only a third thought they did well on handling customer complaints.Among general hand-wringing only 38% said they gathered any feedback from customer engagement situations, and only 13% use real-time systems (pssst! Easy solution for you 87% who need to do this: CustomerGauge). Companies who did measure experience said it helped brands and business grow. Source: MSNBC. (Update 10/2103: link moved)

Customers Invest in—and Promote—Charles Schwab

Charles Schwab CEO Walter Bettinger outlines the impact of the Net Promoter® Score in his organisation. 200 "exit interviews" with departing staff and customers in 2004 started their feedback culture. Key takeaways:
  • 9 out of 10 Schwab employees speak to customers on a daily basis (it used to by 6 out of 10)
  • All detractors are followed up within 24 hours of a survey.
  • "Power of the follow-up" - shows the company cares
  • NPS improved from -34 to +26 in 3½ years (an increase of around 1.4 points per month - my math)
Source: DestinationCRM

Next Up: Fund Companies flunk Net Promoter Score test

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