Efficiency / US / Financial Services
Understanding the value of promoters, passives and detractors
"This project allowed the client to explore different scenarios to find the most feasible combination of improvements with the best anticipated ROI, whilst also facilitating action planning by indicating the most profitable areas of improvement."
Business issue
A North American bank was looking for justification to continue investing in the customer experience, despite a strong NPS®. In particular, they wanted to understand the importance of continuing to deliver good customer experiences in order to maintain high customer value, and what areas to prioritise to drive the best ROI.
Our solution
Ipsos created an interactive simulator which matched survey data with entity level financial performance data for a period of 18 months. This allowed the client to explore different scenarios to find the most feasible combination of improvements with the best anticipated ROI, whilst also facilitating action planning by indicating the most profitable areas of improvement.
Overall, the data showed a clear pattern of higher NPS® associated with higher customer value, with promoter revenue over time increasing at a much higher rate than passives.
For more information on this case study, get in touch here.
Net Promoter®, NPS®, NPS Prism®, and the NPS-related emoticons are registered trademarks of Bain & Company, Inc., NICE Systems, Inc., and Fred Reichheld. Net Promoter ScoreSM and Net Promoter SystemSM are service marks of Bain & Company, Inc., NICE Systems, Inc., and Fred Reichheld.
Impact
Using the simulator we identified the point of diminishing returns - at which investment no longer brought in equivalent revenue - for different segments.
We identified certain segments with further significant room for NPS® improvement and hence revenue generation. This helped our client to decide on which customers they should focus their attention.
