How is your score? Compare with 600+ Industry Leaders
The team at NPS® Benchmarks just published the first part of their ground-breaking state of the industry study, with more than 600 company responses. In this part there are answers on the “mechanics” of running the program: response rate, survey length, drivers of success and much more.
The team found that there large variances in how companies rate their programs. Small companies love NPS more than large.
The responses came primarily from the readers of NPS News (thanks!). You may already have your copy but if not, click here.
And don’t forget to sign up for the release of Part 2 on June 9. Webinar here: https://attendee.gotowebinar.com/register/7778470096743606275
ING “all about empowering life and business”; get top ranking NPS
Apart from the usual bankwaffle about customer promises, the NPS News team would like to call out ING bank for putting Net Promoter in their corporate report, on their website and some nice infographics, placing NPS right next to Compound Annual Growth Rate. ING claim No.1 NPS relative to competitors in 7 countries. No details are given (so no bonus points) and we can’t help thinking this was an external research. So it might not reflect internal NPS but hey, it’s one step closer to bank transparency. Full disclosure, our COO has an ING account and has not noticed much improvement in CX recently.
Flipkart flips out GMV, karts in NPS
India’s biggest eshop Flipkart reports that to compete with Amazon (and investors) it will refocus on execution – meaning customer experience and retention. New CEO Binny Bansal wil ensure that everyone in the company gets Net Promoter as the most important metric. With NPS as the main KPI, they will optimize product selection, speed of delivery, price and availability.
“Other than that, how was the play, Mrs Lincoln?”
Florida based cancer-testing lab NeoGeonomics are using Net Promoter for referral business. Boss Douglas VanOort lays out the case beautifully. “Many of our clients rated us very, very highly and are essentially promoters of our service”. That’s important because the cancer-testing world is close-knit. “In this business, it really is about delivering consistently every single day good service to clients and when that happens, not only do you retain clients, but this is a small community,” VanOort says. And they find that word of mouth can also be effective when prospecting for new customers. “Increasingly we’re getting work not only from pathology groups but from hospitals, oncology groups, academic centers, research centers and others,” VanOort notes.
Thomas Cook up Turkey, turn to quality
Challenging times for travel agents Thomas Cook due to Mediterranean turmoil and recent criticism over the firms handling of a holiday tragedy. Peter Fankhauser, chief executive of Thomas Cook has been transforming the company through training and customer focus, which he’s measuring through Net Promoter. Results are paying off: Four points increase of NPS in all markets, and increased gross margin by 10 basis points .
EON spends £50K on game to teach NPS
News that energy leader (and customer experience laggard) E.ON has put some cash behind rebooting its Net Promoter program. Owning up to putting a low priority on it’s customer experience it embarked on a program of education across the business.
Tabloid whistleblowers story Vodafone NPS Fail
British mid-market tabloid Mail On Sunday schools us in how Net Promoter is measured in UK mobile telco Vodafone, then shames the company for gaming and ignoring scores. Vodafone is the most complained about telecoms company among pay-monthly customers, according to regulator Ofcom. The article states that “Call centre workers face losing their jobs if their promoter score is not high enough”
Securly gets a classy 48
Securly, provider of cloud-based web filtering for schools implemented the Net Promoter Score (NPS) metric to capture customer feedback and satisfaction levels. The most recent results pegged Securly at a NPS score of 48. http://www.prweb.com/releases/2016/04/prweb13372161.htm
Stock Market News
Here at NPS News Towers we’ve seen an increase in number of public companies saying they monitor Net Promoter. Here are few notable examples (thanks to our friends at Seeking Alpha):
Vodafone Group PLC (NASDAQ:VOD), Q4 2015 Earnings Call. “ We have improved our NPS […] in 15 out of 21 markets where we can measure and we're leading in 13. And, as a result, churn has come down both in enterprise and in consumer, as you see….” http://seekingalpha.com/article/3975725-vodafone-groups-vod-ceo-vittorio-colao-q4-2015-results-earnings-call-transcript?part=single
Rexnord Corp. (NYSE:RXN) Q1 2016 Earnings Call “Our intense focus on commercial excellence is improving our customer’s overall experience and we are seeing it in our customer satisfaction survey - and Net Promoter Scores.” http://seekingalpha.com/article/3976434-rexnords-rxn-ceo-todd-adams-q4-2016-results-earnings-call-transcript?part=single
Burberry Group Plc ADR (OTCPK:BURBY) Preliminary 2016 Earnings Conference Call “And finally, consistent with our broader focus on data and insight, we will pilot a Net Promoter Score program in late summer in key locations, directly linking customer feedback to store performance metrics for the first time. This direct connection to customer feedback will provide us with the opportunity both to coach underperformance, as well as celebrate and learn from excellence, as we bring each store to a common standard globally.” http://seekingalpha.com/article/3976108-burberry-groups-burby-ceo-christopher-bailey-preliminary-2016-results-earnings-call?part=single
Aimia, Inc. (OTCPK:GAPFF) Q1 2016 Earnings Conference Call “Overall, Aeroplan’s flight redemption success rates, satisfaction levels among tier members and overall net promoter scores are all-time highs, a reflection of the meaningful achievements over the last year.” http://seekingalpha.com/article/3974936-aimias-gapff-ceo-rupert-duchesne-q1-2016-results-earnings-call-transcript?part=single
CA, Inc. (NASDAQ:CA) Q4 2016 Earnings Call “Our Net Promoter Score have gone up each and every quarter for the last seven quarters since we've been tracking it, and I think the whole company focused on this is making a big difference” http://seekingalpha.com/article/3974355-ca-ca-michael-p-gregoire-q4-2016-results-earnings-call-transcript?part=single
Diversified Restaurant Holdings, Inc. (NASDAQ:SAUC) Q1 2016 Earnings Conference Call “So far the early performance of the Bagger Dave’s locations operating with new prototype is encouraging with improved Net Promoter scores, a leading indicator of sales growth and higher sales volume we sustained even after the initial honeymoon period. http://seekingalpha.com/article/3972960-diversified-restaurant-holdings-sauc-ceo-michael-ansley-q1-2016-results-earnings-call?part=single
General Finance Corporation (NASDAQ:GFN) Q3 2016 Earnings Call “Our ongoing favorable results and strong execution in our core North American portable storage business is very encouraging. The consistent loyalty of our customer base is evidenced by our industry leading Net Promoter score at Pac-Van, which was 85% for the most quarter and has averaged 83% for the last 12 months. http://seekingalpha.com/article/3973231-general-finances-gfn-ceo-ronald-valenta-q3-2016-results-earnings-call-transcript?part=single
Surgical Care Affiliates, Inc. (NASDAQ:SCAI), Q1 2016 Earnings Call “Our teammate engagement is well above healthcare industry benchmarks and our physician satisfaction based on net promoter score rivals some of the leading brands in customer service like Amazon, Zappos and Southwest Airlines.” http://seekingalpha.com/article/3970755-surgical-care-affiliates-scai-ceo-andrew-hayek-q1-2016-results-earnings-call-transcript
Avis Budget Group, Inc. (NASDAQ:CAR), Q1 2016 Earnings Call “We moved all of our back office work into Budapest and eliminated those functions in the countries. We consolidated the countries down into regions. So, we've improved our performance. Our operational performance as it relates to Net Promoter Score as well as our utilization. We've been growing ancillary revenue and expanding our Budget brand.” http://seekingalpha.com/article/3971307-avis-budget-group-car-larry-d-de-shon-q1-2016-results-earnings-call-transcript?part=single
Limelight Networks, Inc. (NASDAQ:LLNW) Q1 2016 Results Earnings Call “I'm optimistic about revenue growth going forward. I believe we are competing successfully in the marketplace for new business and doing a good job of renewing existing customer contracts. This is consistent with the significant improvement to date in our customer satisfaction levels as measured by Net Promoter Score.” http://seekingalpha.com/article/3968745-limelight-networks-llnw-ceo-robert-lento-q1-2016-results-earnings-call-transcript?part=single
PayPal Holdings, Inc. (NASDAQ:PYPL), Q1 2016 Earnings Call “A great example of this is the relationship we have built with our regulators as it relates to our PayPal Credit offerings. We have seen our Net Promoter Score for PayPal Credit jump to over 70% in March, a clear demonstration that what regulators want and what we want are truly aligned around delighting and protecting our customers.” http://seekingalpha.com/article/3968809-paypal-holdings-pypl-ceo-daniel-schulman-q1-2016-results-earnings-call-transcript?part=single
AT&T Inc. (NYSE:T), Q1 2016 Earnings Conference Call “We still get good Net Promoter Scores and good quality scores on both the DTV and the U-verse platform…” http://seekingalpha.com/article/3967963-ts-t-management-q1-2016-results-earnings-call-transcript
UnitedHealth Group, Inc. (NYSE:UNH), Q1 2016 Earnings Call “Our momentum is evident in the highest levels of customer and consumer retention in our history combined with new customer acquisitions driving strong revenue gains across the enterprise; growth in the size, scope and diversity of products and services within our client base as well as a number of new customer opportunities we are pursuing; steadily improving metrics for brand and reputation and steadily rising Net Promoter scores across our businesses.“ http://seekingalpha.com/article/3966325-unitedhealth-group-unh-stephen-j-hemsley-q1-2016-results-earnings-call-transcript?part=single
And finally, NPS has new illicit meaning: Users seek “modification of perception”
Looking through the news sources for NPS this week the news team had a collective shock when we saw a new report “most users have a preference for hallucinogenic or stimulant effects of NPS; consumption occurs mainly in private space, but also in festive areas;”. On closer inspection (one of us had to remember his schoolboy French) it appears that the acronym is now being used for nouveaux produits de synthèse – in English: New Psychoactive Substances. Which is what the Five-O are now calling designer dr*gs. We will bear this in mind when writing stories in the future and make it clear that consumption of NPS metrics WILL NOT MAKE YOU GO BLIND. Bain trademark cops, get to work on protecting your copyright!