It is widely recognised that companies which achieve a higher than average Net Promoter Score also show long term profitable growth. Many organisations, however, are not viewing customer experience in the context of their competitors but allow NPS to exist in a vacuum, unaware of how well other brands may be performing in both transactional and relational terms.
NPS Benchmarking is a bi-annual systematic and cost-effective benchmarking service for brands in the financial services sector. The service offers a means for organisations to view their customer experience in context and to understand the factors driving NPS at transactional and relational levels, with brand performance fully disclosed.
The study utilises a nationally representative sample of 13,000 UK customers, generating robust benchmarks across each of the touch-points. Additional options exist for subscribers to place confidential questions in the survey and for smaller participating organisations to supply a customer sample of their own.
The study benchmarks outcomes on around 20 key customer experiences to develop NPS ratings at brand level. Main product holding relationships are established and NPS investigated at that level as well. Additionally, Key Driver Analysis identifies factors influencing NPS outcomes to guide subscriber’s actions.