Attracting new customers is vital if you are looking to grow your business, and one of the most effective ways of doing this is through referrals. After all, if potential new clients are already aware of the quality of your customer service and products, then much of the ground work has been done, and they are far more likely to result in a positive outcome.
To get to this stage, you need to be sure you are providing excellent service. However, it can often be difficult to tell if your customers are so satisfied with your products and services that they would recommend you to family and friends.
This is a particularly pertinent issue for brokers and insurers, who typically have limited contact with customers, primarily related to changes to policy details between renewal dates or in the event of a claim. As a result, more firms within the industry are using Net Promoter Score (NPS) to understand customer sentiment.
The most highly adopted measure of customer loyalty, NPS has been embraced by leading companies across different industries worldwide as the standard for quantifying and improving customer loyalty. Using NPS, companies can build on the feedback given to drive profitable growth, enhance their customer experience, and benchmark their performance against competitors. In essence, a company’s NPS is based on a customer’s likelihood, on a scale of zero to ten, of recommending the company to others. It is calculated as the percentage of Promoters – customers who provide a rating of nine or ten – minus the percentage of Detractors (those who rate the company at six or below). Hence the term net promoter.
By responding to the needs of their customers, companies can increase the number of Promoters and turn their Detractors into Passives, and eventually Promoters. As a business, we take customer satisfaction and customer feedback very seriously. We are committed to using NPS to highlight any areas where improvements need to be made, and focusing our priorities on what customers see as important.
That’s why we have launched our latest NPS customer satisfaction survey, which takes just a few minutes to complete. It is vital that we get the views of as many of you as possible in order to develop an accurate picture of our current position, as well as what we need to do to achieve our aim of all our customers becoming advocates of Keychoice and SSP – which, to us, means consistently achieving ratings of nine or ten.
However, measuring is just the first step – the big challenge is using this feedback to make a real difference to your customer experience. Therefore, based on the feedback we have already received, we have developed a customer satisfaction action plan focused on continual improvement, which is owned and being driven by our senior management team.
Already, over the last 12 months, we have organised the Keychoice conference and a series of regional roadshow events to help support you in key areas such as sales, marketing, business efficiency and compliance, and to strengthen our relationships with you. Over the coming months, we’ll be taking to the road again to meet you, hosting a series of broker forums and launching a new range of training tutorial videos to help you get the most out of your technology. All of these areas of support started as a result of you taking the time to share your feedback.
This sets the scene for what you can expect in the future. We are committed to feeding back on a regular basis the changes being made within Keychoice and SSP in response to your comments.
In the meantime, we look forward to hearing from you to understand how you feel about the service provided, so please complete our customer satisfaction survey – your views are important to us.
You can also share your opinions with industry peers and influencers within our LinkedIn discussion group. See you there...