What we can Learn From the top Brands in the UK
One size doesn’t fit all, but knowing essential NPS best practices that can fit any program is a great place to start. In our latest report, State of Customer Experience: 2023 UK Consumer Study in partnership with NPSx by Bain & Company, we uncovered the differences between industries and brands and how each brand represents certain values. We learnt that there are multiple approaches to achieving success and that the true differentiators between leading and lagging companies are culture, capability, and execution.
In this blog, we have listed NPS best practices that will help you shape the course of your organisation into becoming a leader in customer satisfaction.
NPS Best Practices Tip #1: Listen To Your Customers
Understanding your customers is paramount in shaping your business strategy. While reports and data can offer valuable insights, the most authentic and relevant information comes directly from your customers. The strength of your organisation’s capability to listen, understand, and act upon customer feedback is crucial. By engaging with those who use your products or services, you gain unparalleled access to the truth about your brand’s perception and the experience you deliver.
Start by delving deep into your customers’ perspectives, their pain points, and their expectations. This knowledge will empower you to craft a customer experience (CX) approach tailored to your unique circumstances. Remember, customer feedback is a goldmine of actionable data that can steer your business towards delivering exceptional experiences and fostering lasting customer loyalty.
NPS Best Practices Tip #2: Build a Customer-Centric Culture
A customer-focused culture is essential, where processes align with customer-centricity, making it a systematic approach rather than mere aspiration. It requires alignment of processes and actions that prioritise customer satisfaction at every level; from the leadership team to front-line employees, everyone must understand their role in delivering for customers and comprehend the significant impact it has on the success of the business.
It is imperative that everyone across the organisation understands their role in delivering for customers and why crucially it makes great business sense. Companies that prioritise their customers and build a culture around their needs, tend to thrive and outperform their competitors and grow ahead of the market.
NPS Best Practices Tip #3: How You Execute is Key To Your Success
Effective execution determines success. Even if you have established listening posts and a customer-focused culture, poor execution will hinder your progress. The true value lies in taking decisive action based on the insights gathered from customers. Turning knowledge into action is the driving force behind real progress.
By actively listening, learning, and implementing changes based on customer feedback, customer-focused companies create a framework for continuous improvement. While knowledge is valuable, taking action based on customer insights is what drives progress. Simply knowing everything without implementing changes will hinder your advancement. Continuously evolving and adapting based on customer insights propels these businesses towards sustained success.
NPS Best Practices Tip #4: Listen Outside of Your Industry
Often, brands focus solely on their own industry, and while it’s natural to focus on your own industry for inspiration and benchmarking, looking beyond those boundaries can yield valuable insights and a competitive edge.
Analysing similar structures in different industries can provide valuable insights that may not be apparent when only examining your own category’s performance. For instance, in this study, we observed that the automotive industry can learn valuable lessons from other industries, such as energy. Even in relatively narrow categories like insurance, there are opportunities to gain inspiration and insights from unexpected sources. Embracing ideas from different industries can lead to groundbreaking strategies and a forward-thinking mindset.
NPS Best Practices Tip #5: Don’t Ignore Low NPS Drivers
It is interesting to note that sustainability ranked relatively low in terms of importance. However, upon closer examination, some leading brands do have robust sustainability charters and consider environmental impact in their operations. While it may not be a major driver, there is a subtle undercurrent of customers caring about how companies treat their employees (which manifests itself in the employee experience) and the origins of their products.
As customers become more conscious of corporate social responsibility, the significance of these factors may grow over time. By acknowledging and addressing low NPS drivers, businesses can stay ahead of evolving customer expectations and position themselves as responsible industry leaders.
To access all the key drivers of NPS and discover who the leading brands are in the UK, download your copy of the report findings here.
Take The Lead! Improve Your NPS
If you are unsure whether your existing CX technology vendor can help you achieve these goals, we would be happy to talk to you about how we can assist you. InMoment’s award-winning AI-based experience improvement technology and decades of industry expertise combined with NPSx market-leading training certification and communities for CX practitioners, and CX Roadmap & Assessments help organisations align and prioritise their CX investments, create customer-centric cultures and give clients a comprehensive set of solutions to support customer loyalty and business growth.
Take the initiative today and book your meeting to start your journey towards improved NPS and a remarkable customer experience. We look forward to discussing how we can support your growth and success.