How to Use Net Promoter Score to Transform the Customer Journey
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In a recent survey, McKinsey found that organizations that focused on maximizing satisfaction along the entire customer journey can increase customer satisfaction by 20%, lift revenue by up to 15%, and lower the cost of serving customers by as much as 20%. In this presentation, Deborah Eastman, Chief Customer Officer of Satmetrix, shares insights on how you can build a customer experience program that drives customer loyalty, increases word of mouth, and delivers improved business performance.
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How to Use Net Promoter Score to Transform the Customer Journey
- 1. HOW TO USE NET PROMOTER TO TRANSFORM THE CUSTOMER JOURNEY AND DRIVE GROWTH Deborah Eastman, Chief Customer Officer December 2014
- 2. CHIEF CUSTOMER OFFICER,SATMETRIX © 2013 Satmetrix Systems, Inc. All rights reserved. DEB EASTMAN S Over 10 years experience with NPS Worked with 100s of customers across the globe Developer of the Net Promoter Certification course Net Promoter conference speaker for 8 years Top rated speaker and instructor
- 3. POLL QUESTION #1: ARE YOU USING NET PROMOTER TODAY?
- 4. ARE YOU USING NET PROMOTER TODAY? 85% © 2013 Satmetrix Systems, ‹#› Inc. All rights reserved. 6% 6% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Organization is thinking about it Just getting started Over a year
- 5. © 2013 Satmetrix Systems, Inc. All rights reserved. TODAY’S AGENDA Market Dynamics The Customer Journey Net Promoter Success
- 6. 91% of marketing leaders believe that in two years they will be competing primarily on the basis of the customer experience • Acquiring new customers can cost as much as five times more than satisfying and retaining current customers • 2% increase in customer retention has the same effect as decreasing costs by 10% • 44% of consumers say that majority of customer experiences are bland • 69% of consumers say that emotions count for over half their experiences Customer Give their Money Fans Give their Hearts © 2013 Satmetrix Systems, Inc. All rights reserved.
- 7. RECOMMEND IS MORE IMPORTANT THAN EVER… © 2013 Satmetrix Systems, Inc. All rights reserved. 900,000,000 Estimated unique monthly visitors 255,000,000 310,000,000
- 8. FROM TRANSACTIONS TO SUBSCRIPTIONS © 2013 Satmetrix Systems, Inc. All rights reserved.
- 9. CUSTOMER EXPERIENCE FOCUS © 2013 Satmetrix Systems, Inc. All rights reserved. ESTABLISHED VS. NEW 1976 1994 1999 2009 2008
- 10. INNOVATE OR DIE © 2013 Satmetrix Systems, Inc. All rights reserved.
- 11. © 2013 Satmetrix Systems, Inc. All rights reserved. FOCUS ON CUSTOMER LIFETIME VALUE •Stay longer •Purchase more •Refer friends •Cost less to serve
- 12. “65% OF TOP 200 GLOBAL COMPANIES USE NET PROMOTER BUT FEW ARE DOING IT RIGHT” – FRED REICHHELD 2006 2008 2012 © 2013 Satmetrix Systems, Inc. All rights reserved.
- 13. YOU GOT A SCORE, BUT NOW WHAT? Improving NPS requires change to achieve results © 2013 Satmetrix Systems, Inc. All rights reserved.
- 14. TO CREATE PROMOTERS YOU MUST MANAGE THE ENTIRE JOURNEY BUT, THAT HAS ITS CHALLENGES… Bill • Multi-channel © 2013 Satmetrix Systems, Inc. All rights reserved. Store Call Center Installer Website Use • Employee Behavior • Operational Metrics • IT Systems • Organization Silos
- 15. DEFINE YOUR LISTENING STRATEGY ALONG © 2013 Satmetrix Systems, Inc. All rights reserved. THE CUSTOMER JOURNEY Relationship NPS Evaluates the entire journey Select Onboard Use Get Help Change Renew/ Leave Web Retail Store Call Center Channel Partners Channels Transactional Measures Daily operational improvements Engages employees to drive culture Customer Journey Prioritize investments Link to financials Sales Marketing Service Staff Regional Leaders Call Center Finance/IT Product Leaders Functional Leaders Information Consumers
- 16. POLL QUESTION #2: HAVE YOU CONNECTED YOUR LISTENING STRATEGY TO YOUR CUSTOMER JOURNEY?
- 17. HAVE YOU CONNECTED YOUR LISTENING STRATEGY TO YOUR CUSTOMER JOURNEY? 0% 10% 20% 30% 40% 50% 60% © 2013 Satmetrix Systems, Inc. All rights reserved. Have not developed a customer journey yet Measure both transactional and relationship, but do not link to customer journey Measure only transactional and Measure only relationship Measure both transactional and relationship and link to customer journey
- 18. DEFINE YOUR LISTENING STRATEGY ALONG Call Center Finance/IT Product Leaders Functional Leaders © 2013 Satmetrix Systems, Inc. All rights reserved. THE CUSTOMER JOURNEY Relationship NPS Evaluates the entire journey Select Onboard Use Get Help Change Renew/ Leave Web Retail Store Call Center Channel Partners Channels Transactional Measures Daily operational improvements Engages employees to drive culture Customer Journey Prioritize investments Link to financials Sales Marketing Service Staff Regional Leaders Information Consumers 1. Measure 2. Improve 3. Engage
- 19. ELEMENTS OF A SUCCESSFUL PROGRAM © 2013 Satmetrix Systems, Inc. All rights reserved. Executive Commitment Accountability Program Structure Technology TRUSTWORTHY DATA Who What When to measure… ACTION FRAMEWORK Closed Loop Governance Communication REPORTING & ANALYTICS Role Specific Segmented Operational
- 20. DOES YOUR NET PROMOTER SCORE REFLECT YOUR BUSINESS? © 2013 Satmetrix Systems, Inc. All rights reserved. • Response rates • % of customers by segment • Decision makers/influencers (B2B) • Same respondent trends • % of transactions at that touch point
- 21. ROLE SPECIFIC INSIGHT DRIVES ACTION Alerts, Push Report, Role Specific Dashboards © 2013 Satmetrix Systems, Inc. All rights reserved.
- 22. POLL QUESTION #3: HOW FREQUENTLY DO YOUR OPERATIONAL LEADERS REVIEW YOUR CUSTOMER FEEDBACK DATA?
- 23. HOW FREQUENTLY DO YOUR OPERATIONAL LEADERS REVIEW YOUR CUSTOMER FEEDBACK DATA? 0% 10% 20% 30% 40% 50% 60% © 2013 Satmetrix Systems, Inc. All rights reserved. Daily Weekly Monthly Quarterly Annually
- 24. ESTABLISHING AN ACTION FRAMEWORK © 2013 Satmetrix Systems, Inc. All rights reserved. FRONTLINE • Service recovery • Root cause learning • Build relationship • Mobilize promoters BUSINESS LEADERS Functional actions Team performance REGION TEAMS Cross functional actions Regional actions B2B ACCOUNT TEAMS Account development Root cause learning Management Reporting Closed Loop Experience Improvements Investments Accountability Workflow Management Role Specific Analytics EXECUTIVES Drivers of loyalty Financial linkage Recognition
- 25. FRONTLINE CLOSED LOOP © 2013 Satmetrix Systems, Inc. All rights reserved. • Understand purpose • Not just for detractors • Clear ownership • Track learning
- 26. UNDERSTANDING THE DRIVERS OF NPS ALLOWS YOU TO PRIORITIZE INVESTMENTS © 2013 Satmetrix Systems, Inc. All rights reserved.
- 27. WHAT ARE THE FINANCIAL BENEFITS OF © 2013 Satmetrix Systems, Inc. All rights reserved. IMPROVING NPS 20M subscribers x 2% more promoters = 3.6M Euros of increased profits
- 28. UNDERSTANDING YOUR NET PROMOTER JOURNEY © 2013 Satmetrix Systems, Inc. All rights reserved.
- 29. HOW ARE YOU DOING? ► Is customer experience a business imperative? ►Does my Net Promoter Score reflect my business? ►Do I have a listening strategy aligned with my customer journey? ►Do I have a well defined action framework? ►Am I providing frequent data to the leaders of the business? ►Am I able to demonstrate the ROI for making more Promoters? ►Do I have the technology necessary for an operational program? © 2013 Satmetrix Systems, ‹#› Inc. All rights reserved.
- 30. THANK YOU! DEB.EASTMAN@SATMETRIX.COM LINKEDIN/DEBORAHEASTMAN
Notes de l'éditeur
- Poll How many of your are using Net Promoter today? Over a year Just getting started Thinking about it
- First let me tell you a little about me
- Poll Question: Have you connected your listening strategy to the customer journey? Yes, we have both relationship and transactional measures aligned with the customer journey We only measure the journey in relationship NPS We measure transactional measures only We measure both relationship and transactional but we don’t connect them to the journey We have a customer journey map, but have not linked our NPS/listening program to it We haven’t developed our customer journey map
- Understanding your customer journey helps to define your listening strategy. Based on our experience, this represents at a high level the most common journey points. Satmetrix will work with you to refine this journey for your business and help to prioritize where you should collect customer feedback and how that data will be used to improve your business results. NPS is typical measured in a periodic relationship survey, to assess the full experience and overall brand perception. This helps to prioritize the areas most important to your business. Transactional feedback is collected directly after an interaction to optimize the customer experience at that point in time. This drive daily engagement with employees and helps to continuously improve the customer experience. Wherever you decide to measure the experience, you should consider how employees and business leaders will use this data to enable service recovery, build stronger customer relationships and improve operations. Information should be integrated with other KPIS to ensure customer focus in daily operations.
- A successful customer experience program requires consideration of these key components: Trustworthy data: Is your score an accurate representation of your customer loyalty? Are you using the right metric at the right time? NPS is not always the right metric, it’s intended to be a measurement of the overall customer journey. Reporting and analytics enables real-time data to be used by operational leaders to inform business decisions and coach staff. It’s critical that you democratize data across the business to empower employees and managers to act on customer feedback and integrate customer experience into every day operational practices. The Action framework ensures your leaders drive improvements in every part of the business. Closed loop processes allow for employees to engage with customers for service recovery & root cause learning. An organizational governance model ensures functional leaders work together to improve the customer experience for all customers, providing operational efficiency and experience differentiation. To support these critical pillars, technology enables the collection and distribution of data that drives action and delivers results.
- How frequently do your operational leaders review your customer feedback data? daily weekly monthly quarterly annually
- Financial linkage informs business decisions by understanding how improvement initiatives may impact business performance. As your program matures you will want to identify your own financial linkage. This customer found that detractors not only purchased less, but were more costly to serve. When you consider 9 euros more of profits per promoters, if you have 20M subscribers and 30% are detractors, the business case for moving just 5% to promoters would mean 2.7m euros in profits, That’s real money.
- Where do you think your current program is? Score watcher Frontline closed loop Structural improvements Innovation