1 example bank customer survey results net promoter score
TRANSCRIPT
1
Example Bank
Customer Survey ResultsNet Promoter Score
2
Loyalty
Q: What is a bank’s most significant source of profitable business?
A: Repeat purchases and referrals (Customer Loyalty)
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Measuring Loyalty
Q: How do you measure loyalty?
A: Ask the “Ultimate Question”
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The Ultimate Question
How likely is it that you would recommend Example
Bank to a friend or colleague?
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6
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Net Promoter® ConceptHow likely is it that you would recommend Example Bank to a
friend or colleague?
Promoter
PassiveDetractor
Extremely unlikely Neutral
Extremely likely
0 1 2 3 4 5 6 7 8 9 10
Net Promoter® Score = % (minus) %Promoter Detractor
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Example Bank
Customer Survey Results
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Example Bank Customer Survey - Net Promoter®
Answer: 31.0
Question: What is Example Bank’s Net Promoter® Score?
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Example Bank Customer Survey -Net Promoter®
Answer: The average in the US is below 10%. But world class companies are in the 70% and above range.
But the absolute number is less important than the trend and the NPS by segment!
Question: Is 31.0% a good Net Promoter® Score?
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NPS – Example Bank
54% Promoters minus 23% Detractors = 31% NPS
Promoters53.6%
Detractors22.5%
Passives23.9%
Promoters
Detractors
Passives
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NPS – By Type of CustomerPersonal Banking
43% Promoters minus 29% Detractors = 14% NPS
Business Banking
53% Promoters minus 18% Detractors = 35% NPS
Wealth Management
72% Promoters minus 11% Detractors = 61% NPS
Summary
31.00%
14.20%
35.30%
60.70%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
All PersonalBanking
BusinessBanking
WealthManagement
Promoters72%
Detractors11%
Passives17%
Promoters
Detractors
PassivesPromoters
53%
Detractors18%
Passives29%
Promoters
Detractors
Passives
Promoters43%
Detractors29%
Passives28%
Promoters
Detractors
Passives
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Example Bank Personal Banking Categories - Summary
Question: If you have used Example Bank for any of the following services, please evaluate your overall satisfaction that service. Index calculated using the NPS algorithm
45.50%42.10%
60.60%
30.50%
55.00%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
PersonalChecking
PersonalSavings
ConsumerLending
ResidentialLending
OnlineBanking
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NPS – Example Bank Service Categories
Personal Checking
61% Promoters minus 15% Detractors = 46% Index
Promoters60.6%
Detractors15.2%
Passives24.2%
Promoters
Detractors
Passives
Question: If you have used Example Bank for any of the following services, please evaluate your overall satisfaction with that service. Index calculated using the NPS algorithm
Personal Savings
58% Promoters minus 16% Detractors = 42% Index
Promoters57.9%
Detractors15.8%
Passives26.3%
Promoters
Detractors
Passives
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Example Bank Service Categories
Residential Lending
52% Promoters minus 22% Detractors = 30% Index
Promoters52.2%
Detractors21.7%
Passives26.1%
Promoters
Detractors
Passives
Question: If you have used Example Bank for any of the following services, please evaluate your overall satisfaction with that service. Index calculated using the NPS algorithm
Consumer Lending
70% Promoters minus 9% Detractors = 61% Index
Promoters69.7%
Detractors15.2%
Passives15.1%
Promoters
Detractors
Passives
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NPS – Example Bank Service Categories (Cont’d)
Online Banking
70% Promoters minus 15% Detractors = 55% Index
Promoters70.0%
Detractors15.0%
Passives15.0%
Promoters
Detractors
Passives
Question: If you have used Example Bank for any of the following services, please evaluate your overall satisfaction with that service. Index calculated using the NPS algorithm
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Example Bank Business Banking Categories - Summary
Question: If you have used Example Bank for any of the following services, please evaluate your overall satisfaction with that service. Index calculated using the NPS algorithm
82%
63%
11%
26%
60%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
BusinessChecking
BusinessSavings
Commerciallending
BusinessServices
OnlineBanking
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Example Bank Wealth Management Categories - Summary
Question: If you have used Example Bank for any of the following services, please evaluate your overall satisfaction with that service. Index calculated using the NPS algorithm
18%
58%
11%
26%
82%
71%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
FinancialConsulting
PortfolioMgmt.
AdvisoryServices
Family OfficeServices
Trust PrivateBanking
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NPS – By Office Example Bank
31.0%26.7%
63.6%
26.3%
10.0%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
All Office A Office B Office C Office D
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NPS – Example Bank by Office
Office A
53% Promoters minus 26% Detractors = 27% NPS
Office B
64% Promoters minus 0% Detractors = 64% NPS
Office C
52% Promoters minus 26% Detractors = 26% NPS
Office D
40% Promoters minus 30% Detractors = 10% NPS
Promoters53%
Detractors26%
Passives21%
Promoters
Detractors
Passives Promoters64%Detractors
0%
Passives36% Promoters
Detractors
Passives
Promoters52%
Detractors26%
Passives22%
Promoters
Detractors
Passives
Promoters40%
Detractors30%
Passives30%
Promoters
Detractors
Passives
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NPS – Strategic View by Number of Services Utilized
Three or More
80% Promoters minus 7% Detractors = 73% NPS
Two
42% Promoters minus 21% Detractors = 21% NPS
One
49% Promoters minus 30% Detractors = 19% NPS
Promoters80%
Detractors7%
Passives13%
Promoters
Detractors
Passives
Promoters42%
Detractors21%
Passives37% Promoters
Detractors
Passives
Promoters49%
Detractors30%
Passives21%
Promoters
Detractors
Passives
Summary
31.00%
73.30%
21.10% 18.90%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
All Three or More Two One
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Buying Factor Statements Assessment
Please rate your level of agreement with the following statements
Example Bank has outstanding professional and technical personnel.
I have an excellent relationship with my Example Bank Banker
Example Bank provides excellent quality products and services that meet my needs.
Example Bank provides timely and responsive service. Example Bank communicates honestly and openly with me. Example Bank’ fees are appropriate. Example Bank people behave with fairness, integrity, and
professionalism.
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Importance/Assessment Questions Importance:
As you think about the future, please evaluate the importance of the following will be in terms of selecting a bank.
Outstanding professional and technical personnel. Excellent relationship with my personal Banker Quality products and services that meet my needs. Timely and responsive service. Honestly and open communications. Appropriate fees. People who behave with fairness, integrity, and
professionalism.
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Importance/Assessment Summary
As you think about the future, how important do you think the following issues will be over the next five years?
If you have used Example Bank for any of the following services, please evaluate your overall
satisfaction with the quality of work and service.
Importance Assessment
42%
12%
52%
65%
21% 18%
75%
0%10%20%30%40%50%60%70%80%
32%
82%
24%
71%
50%
26%
78%
0%10%20%30%40%50%60%70%80%90%
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Issue Analysis
Assessment
Imp
ort
ance
BehaviorRelationship
Service
Fees
Communications
Products & Services
75%12%
Valuation
Personnel
82%
24%
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Competitive Analysis
Index Mea
nExample Bank
39.7%8.1
Competitors A, B & C (aggregate)
39.2% 8.2
Please evaluate Example Bank and your other banks (if any) in terms of their overall performance in serving you.
Have you used any banks other
than Example Bank?
Percent
Yes 69.0%
No 31.0%
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Customer Survey - Key Findings
Customer satisfaction is good but the current level is below where a great bank should be
Personal Banking - Satisfaction is highest for Consumer Lending and lowest for Residential Lending
Business Banking - Satisfaction is highest for Business Checking and lowest for Commercial Lending
Wealth Management - Satisfaction is highest for Trust Services and lowest for Advisory Services
Satisfaction varies among offices, with Office A the highest and Office D the lowest
Customers have multiple relationships with Example Bank are more satisfied than those with only one relationship
Based upon importance/assessment analysis, Example Bank needs substantial work on developing customer relationships and customer communications. It is doing well in the important areas of customer service and behavior of Example Bank people
There is a lot of competition, but it is fragmented. Competitors rate about equal to Example Bank
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Customer Centered Strategies
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For InformationFor additional information about Net Promoter® Score and its application for banks, please contact:
Gerald WexelbaumStrategy Support Associates
(561) [email protected]
Net Promoter® is a registered trademark of Satmetrix Systems, Fred Reichheld, and Bain & Company