If your company aspires to enhance customer experience in order to become the next No. 1 leading consumer brand in Hong Kong, Net Promoter System (NPS) could be your answer.
NPS is a powerful management tool that measures customer sentiment and the loyalty that exists between a provider and a customer. Today, it is widely used by two-thirds of the Fortune 1000, including financial service companies, retailers, airlines, etc. to collect customer feedback, measure customer experience, and devise actions for better customer experience and higher customer loyalty.
Companies use NPS surveys to determine how engaged customers are at different key touchpoints throughout the customer journey. In the surveys, customers are asked to respond to a list of Net Promoter Score questions, which are based on a 0-10 scale. Customers will then be categorized as Promoters (respond with a score of 9-10), Passives (respond with a score of 7-8) and Detractors (respond with a score of 0-6). A Net Promoter Score is calculated by subtracting the percentage of customers who are Detractors from the percentage of customers who are Promoters. The surveys also include open-ended questions that can help further explore how the latest customer experience influenced customers’ rating.
From the data collected, companies can identify not only their Promoters, i.e. their customer advocates, but also Detractors, i.e. dissatisfied customers. The survey results allow the companies to grasp improvement opportunities by addressing Detractors’ dissatisfaction through immediate follow-up actions, such as contacting the dissatisfied customers and take remedial actions to restore the relationships – the process is called ‘closing the loop’.
During the process, cross-departmental efforts may also be required to implement structural, iterative improvements in order to improve customer experience along different customer journeys; therefore, NPS can literally motivate the entire organization, from top management to frontline employees, to become customer centric and improve its products and service for better customer satisfaction and higher loyalty, hence customer advocacy.
Recently, we supported one of the leading multinational banks in implementing and optimizing NPS to enhance its overall customer experience in retail banking. Based on the change concepts, our professional virtual trainer designed and delivered a series of 2-hour interactive Net Promoter System Online Workshops to their branch managers and relationship managers, helping them to understand the notions of NPS, how it can help create customer advocacy, why their support is crucial in making NPS sustainable, how to make use of customer feedback to improve customer experience, as well as how they can contribute to the improvement of customer experience by changing their mindset and behaviors in order to gain more Promoters. Through our virtual trainer's lively and engaging facilitation, participants were able to gain further insights into NPS through a suite of case studies.
If you are interested to know more about how we can help your employees harness the power of Net Promoter System for better customer experience, simply drop us a line at info@talentacademy.com.hk .
