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