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Do Business Leaders agree on the significance of NPS®?
CloudCherry | Featured | February 15, 2017
We’ve all heard about the importance of NPS® and we’ve been told repeatedly how all the big companies use it. If you’re still skeptical, though, here are the words straight from the horse’s mouth, as it were. Read on to see what some of the biggest names from some of the biggest companies in the world have to say about the Net Promoter Score system.
“Last year when I began to lead the team at PayPal, it was clear to me that although we were a strong and thriving company with great promise, our laser-focus on scaling the business, and keeping it compliant in the complex world of payments had taken precedence over our customers’ experiences for too long…” – David Marcus, former President, PayPal
“We use the standard loyalty question to [measure] NPS and assess progress monthly. The measurement is based on customers providing a 9 or 10 on an 11-point scale saying they would be willing to recommend PayPal to friends and colleagues. The approach does not differ across regions in PayPal.” – Peg Raposo, Senior Quality Leader for Global Operations, PayPal
“Lastly, we are using a simple metric called Net Promoter Score (NPS) to measure how customers view GE. NPS creates a view of customer loyalty. The absolute score is less important than the trend. We learn from both promoters and detractors. Most importantly, we have been able to associate NPS improvement with growth. NPS is simple and we can use it across the Company. Our ultimate goal is to use improvements in NPS as a measure in how leaders get compensated.” – Jeff R. Immelt, CEO and Chairman, General Electric
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“We got the idea from the book, The Ultimate Question, by Fred Reichheld. Basically, the survey determines who is most likely to recommend us and who is least likely, and we want the difference between the two to be as large as possible. It’s a simple way to gauge how our business is doing in terms of satisfying our customers.”
– John G. Rice, Vice Chairman, General Electric
“We try to encourage our customers to call our employees. The whole idea is to WOW customers. Until they meet us and understand our culture and what our values are, it’s very hard to differentiate ourselves. You can figure out how to make customer happy and employees happy, the business runs itself. It’s about delivering happiness to customers and employees. And fun is one element of what makes people happy. At Zappos, we use NPS every day to make sure we’re WOWing both our customers and our employees.” – Tony Hsieh, CEO, Zappos
“We found that it’s crucial and it’s this key connector that most people haven’t realized, which is the connection between customer service and profits. To draw that connection between the two, NPS unites them perfectly.”
– Robert Richman, Product Manager, Zappos Insights
“The day I was appointed I declared we’re going to use NPS across the entire company. Everyone had to understand what it was. In one year, we became more customer-centric than we had in the previous three.”
– John Donahoe, CEO, eBay
“The Net Promoter Score was powerful for us because every employee, from the newest, most junior employee, could understand exactly how it works. One question, zero to ten, are you going to recommend us. They’re the ones with the power. And they can look at me if I’m engaging in any decisions or actions that are going to be inconsistent. NPS opened up our employee population to say it is safe to always do the right thing.”
– Walt Bettinger, CEO, Charles Schwab
“We even have a set of values that have been consistent for a quarter of a century and one of them is delighting customers. But we have a lot of really smart people who want to be able to measure if they’re making progress every day. And now we’re trying to get that closed-loop feedback to our front line employees to say based upon an action you either contributed or unintentionally hurt that outcome. “ – Brad Smith, CEO, Intuit
“I feel the whole world is obsessed with metrics that are traditional about being big. How many employees do you have? How many customers do you have? What’s your revenue? What’s your market cap? There aren’t a lot of metrics that really orients us around greatness. What attracted it us to the Net Promoter Score – we were thinking about how to measure greatness.” – Lanham Napier, Former CEO, Rackspace
“The great thing about the Net Promoter Score and the whole concept around loyalty in general is that it’s allowed us to take what we think was an important value and put a metric around it that’s actually measurable and meaningful to people and pretty easy to explain to our broad crew at large.
For example, before we adopted Net Promoter Score, we certainly did surveys of our clients, we talked to our clients all the time, we tried to get a sense… In fact, our founder, Jack Bogle used to talk about the Bogle Barometer, which was his pulse on the kind of mail he was getting but it was pretty unscientific…
The great thing about Net Promoter was it allowed us to get that loyalty, which at the end of the day is such a critical value. Investing is… it’s pretty easy to move money from one firm to another in this day and age. You want to build up a very loyal clientele over time and you want people to stay the course, you want people to think long term. Net Promoter Score gave us the ability to actually track how deeply loyal our client base was.
When we first started out, we were a little surprised on the downside. We thought we had a very satisfied client base, and I think we did have a satisfied client base, but maybe they weren’t as loyal as we had hoped.
The metric has allowed us to focus on high-value added activities, which really helps engage the client more directly and that client engagement has helped.
One of the great things about Net Promoter Score is, obviously, when you look at the client base and you can parse out who scores you at what level.
Where you have people who are pretty dissatisfied, so called detractors, you can follow up with them. Often, it’s those follow-up discussions that lead to key insights in terms of what you can turn around and change…
On the other side, you can talk to your loyal clients to find out what keeps them coming back over and over and it’s often not what you think. That has provided us a lot of insight as well.” – Bill McNabb, Chairman and CEO, Vanguard
Isn’t that enough proof of how the Net Promoter Score (NPS) as a single, simple, yet powerful metric, can transform your Business? SIGN UP BELOW with CloudCherry and make use of the full potential of this score!
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