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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. Fred Reichheld , The Ultimate Question 2.0.

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The Net Promoter System – It's more than just a Score

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  1. The Net Promoter System – It's more than just a Score June 2012 MLG Users Webinar

  2. Fred Reichheld, The Ultimate Question 2.0 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.

  3. It’s more than a Score, it’s a System Satmetrix 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 Fails to Yield Results Delivers Success Outside the core strategy Central to the strategy Finance always wins Customer sometimes wins Move the metric Create Promoters

  4. Net Promoter® system roadmapThe path to a best-in-class member experience World-Class Loyalty Leader Progressing Developing • 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 • Widespread NPS adoption • Reliable data • Root causes investigated • Improvement targets • Employee involvement • Invest in reducing Detractors • Mixed Net Promoter adoption • Limited communications • Lack of trustworthy data • Low investment in program • Inconsistent closed loop process

  5. Net Promoter® practices World-Class Loyalty Leader Progressing Developing Digging into the “why” of the score Re-engineering the experience Questioning the score

  6. We NEED nails!

  7. Net Promoter® practices World-Class Loyalty Leader Progressing Developing Prioritizing member experience projects together with other strategic initiatives Plan to add improving member experience to the project list Member experience projects ARE the strategic initiatives

  8. Net Promoter® practices World-Class Loyalty Leader Progressing Developing Invest resources in gathering feedback Invest resources to create/activate Promoters Invest resources to reduce Detractors

  9. Charles Schwab • Instituted Client Promoter Score in 2005 • Reduced detractors by eliminating bad profits • Beefed up client-facing staff – client service as competitive advantage

  10. Net Promoter® practices World-Class Loyalty Leader Progressing Developing Results, comparisons & best practices shared among all levels on ongoing basis Results are shared among a select group on a periodic basis Results are role specific and widely distributed on a regular basis

  11. 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

  12. 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 Progressing Developing

  13. When you’re stuck World-Class Loyalty Leader • 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 Progressing Developing

  14. Questions?

  15. MLG Users Group Meeting • Monday, October 22 – Tuesday, October 23 • Hilton Suites Chicago/Magnificent Mile • Agenda and details TBA

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