Your clients may say nice things to your face, but what are they saying behind your back? Here’s how you find out.
From star-ratings to online surveys, businesses use a variety of ways to find out what their customers think of them. But the world’s most successful brands know that if you’re serious about understanding your true value, you ask one simple question: “How likely would you be to recommend us to your friends and colleagues?”
The answer, expressed on a scale ranging from -100 to 100, is known as a Net Promoter Score (NPS). NPS is used by organisations around the world, including two-thirds of the Fortune 1000. It’s a measure of customer loyalty, helps predict growth, and gauges performance against competitors.
What is a good NPS score?
NPS was created in 2003 by Fred Feichheld who claims that any NPS score above 0 is good because it means you have more customers who are ‘promoters’ than ‘detractors’. The global consultancy standards say a score above 20 is great and anything above 50 is exceptional.
As you can imagine, companies scoring 80 and above are on another level altogether. They are, to put it simply, the best in the business.
A high NPS is available to every business
NPS results can vary across business sectors. Financial services and tech providers, for instance, tend to fare well (Apple, Google, and Amazon regularly record NPS scores between 50 and 60). Utilities and airlines tend to rate relatively poorly (Qantas claimed a zero in its 2023 annual report).
However, as one Australian travel company has shown, you don’t have to be a banking behemoth or an innovative tech titan to land an outstanding NPS.
Three years ago, the award-winning Travellers Choice network posted an impressive NPS of 65. Think that’s already amazing? Remarkably the company’s performance has improved even further, and this year its score hit 90!
So, what is Travellers Choice’s secret?
Managing Director Christian Hunter says Travellers Choice is relentless when it comes to looking for new ways to enhance the support it offers its customers, all of whom are independent travel businesses. That has led to numerous innovations, including the group’s site builder website solution and technology platform, TC One.
Hunter believes, however, that the group’s focus on communication – not just with corporate office staff but with each other – also contributes to its sky-high NPS.
“We make it easy for members to contact everyone from their business development manager to members of our senior management group, including myself” says Hunter. “Generally, that ensures that when issues arise, they are resolved as quickly as possible.
“We also create multiple opportunities for members to engage with each other. From webinars and training seminars to annual state-based meetings and national conferences it cultivates and reinforces a group culture based around mutual support and cooperation.”
“Our aim is to exceed expectations”
One thing Travellers Choice does not do, he says, is take its NPS for granted.
“We are well aware when it comes to its NPS, no company can rest on its laurels. That’s why we are continually seeking feedback from new and existing members on how we can do things better.
“Most recently, for example, that led to the creation of a new role within the company dedicated to helping new members integrate into Travellers Choice as seamlessly as possible.
“The aim is to not just to avoid potential onboarding issues, but to ensure they are optimising their immediate and ongoing growth prospects by taking full advantage of the broad range of products and services we offer,” says Hunter. “That could mean anything from creating a logo to building a new website.”
“Our members are our customers, and our aim is to continually exceed their expectations. As our NPS attests, in return we enjoy a level of loyalty that most companies can only dream of.”
Discover more
Find out more about Travellers Choice here or contact the award-winning Travellers Choice team at admin@travellerschoice.com.au.
Ready to become a member? Head straight here!
Keen to learn about surveys for your business (and calculating your NPS?) Check this out.
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