The Net Promoter System – It's more than just a Score
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Transcript of The Net Promoter System – It's more than just a Score
The Net Promoter System – It's more than just a Score
June 2012 MLG Users Webinar
In a remarkable explosion of creative intelligence,
NPS soon morphed into something much more
than a metric. Though the science is still young, it
became a management system, an entire way of
doing business. The initials themselves, NPS,
came to mean Net Promoter system rather than
just Net Promoter score.
Fred Reichheld, The Ultimate Question 2.0
It’s more than a Score, it’s a SystemSatmetrix interviewed hundreds of companies and found common traits among those who achieve financial results and those who did not.
Metric Discipline
Research Operational
Score Business Outcome
Outside the core strategy Central to the strategy
Finance always wins Customer sometimes wins
Delivers SuccessFails to Yield Results
Move the metric Create Promoters
Net Promoter® system roadmapThe path to a best-in-class member experience
Developing Mixed Net Promoter
adoption Limited communications Lack of trustworthy data Low investment in program Inconsistent closed loop
process
NPS embraced by all levels and functions
Resources allocated to improve loyalty
Target setting & compensation planning
Understand competitive NPS standing
Use feedback to initiate organizational change
Invest in creating Promoters
Progressing
Widespread NPS adoption Reliable data Root causes investigated Improvement targets Employee involvement Invest in reducing
Detractors
World-Class Loyalty Leader
Net Promoter® practices
Developing Progressing World-Class Loyalty Leader
Questioning the score Digging into the “why” of the score
Re-engineering the experience
We NEED nails!
Net Promoter® practices
Developing Progressing World-Class Loyalty Leader
Plan to add improving member experience to the project list
Prioritizing member experience projects together with other strategic initiatives
Member experience projects ARE the strategic initiatives
Net Promoter® practices
Developing Progressing World-Class Loyalty Leader
Invest resources in gathering feedback
Invest resources to reduce Detractors
Invest resources to create/activate Promoters
Charles Schwab
1. Instituted Client Promoter Score in 2005
2. Reduced detractors by eliminating bad profits
3. Beefed up client-facing staff – client service as competitive advantage
Net Promoter® practices
Developing Progressing World-Class Loyalty Leader
Results are shared among a select group on a periodic basis
Results are role specific and widely distributed on a regular basis
Results, comparisons & best practices shared among all levels on ongoing basis
Apple
• Employees know where they stand among peers and where there store stands in the region
• Discuss NP feedback in “daily downloads”
• Store rankings based on NPS• Ovation Awards
When you’re stuck
• Share best practices
– What’s working? What challenges are you facing?
• Work to ensure reliability of data
• Identify areas of strong/weak performance
– 5 Whys
– Find your allies
• Program Communications
Developing Progressing
When you’re stuck
• Assess delivery of NPS information
– What is everyone getting? Is this what’s needed?
• Cross-functional teams to evaluate & re-engineer member experience in key areas
• Review what makes members Promoters
– More, better, faster
• Look to other credit unions/industries for inspiration
Developing Progressing World-Class Loyalty Leader
Questions?
MLG Users Group Meeting
• Monday, October 22 – Tuesday, October 23
• Hilton Suites Chicago/Magnificent Mile
• Agenda and details TBA