How A Leading Manufacturing Company Equated $330k in Additional Revenue per +1 NPS Increase

A Fortune 500 heavy machinery company in North America aimed to enhance customer experiences across its dealerships, sales, and service to boost long-term loyalty. To achieve this, it partnered with the InMoment Strategic Insights team to conduct a comprehensive offline analysis. The analysis revealed that “Salesperson Knowledge” and “Explained Warranty” were the strongest factors influencing the Net Promoter Score (NPS) rating.

In response, the company implemented formal training programs focused on improving knowledge about equipment needs, warranty details, and fostering a helpful approach among employees. Given their average sales price of $28,689, this initiative identified an additional revenue opportunity of $330,565 for each point increase in NPS.

Highlights:

• InMoment performed a Strategic Insights Review to identify a revenue opportunity $330,565 per +1 NPS
• Improved NPS Rating by +12.7 points through implementing employee training focused on knowledge, empathy, and listening skills.
• Utilised relationship and sales surveys as well as True Driver Analysis to understand the biggest factors impacting the customer experience

“I would definitely recommend InMoment. Their focus on customer experience and data-driven insights have consistently helped us enhance our offerings. Their team is knowledgeable and responsive.”

The Challenge: Improving Dealer NPS

This machinery organisation wanted to improve the performance of its dealerships across the country. After conducting a relationship survey, this brand realised that some of its dealerships had an NPS that was 13 points lower than the national average and 18 points lower than the brand’s top-performing dealerships. 

Finding effective strategies to improve the NPS was challenging, so the organisation sought a partner to research its existing customer base. The goal was to gather additional data that would help identify the most promising areas for improvement.

The Solution: Improving Employee Skills for Better Business Performance

InMoment conducted a sales survey to better understand the sales process and sales experience from the customers point of view. The results of the survey were sorted based on True Driver Analysis (TDA), which is used to determine specific elements or attributes that drive the customer experience, and helps improve business performance by focusing on improving high-impact areas first. 

After conducting a TDA of sales drivers and their effect on Dealer NPS, it became clear that the three biggest drivers and areas for improvement were salesperson knowledge, equipment needs, and explained warranty. These three drivers accounted for 52.7% of dealer NPS sales drivers

As a result of this TDA, the organisation dedicated itself to enhancing the skills of its sales team through a comprehensive approach centred on training, empathy, and effective listening. This initiative equipped salespeople with the tools they needed to address customer inquiries more adeptly, fostering deeper connections with clients and ensuring they received the highest quality of service. 

“Our support team has been superb, they are quick to act and provide reasonable and accurate solutions”

The Impact: Improved NPS and Increased Revenue

Over a span of just 10 months, the organisation made significant strides in enhancing its performance by tackling the concerns highlighted in the Dealer NPS TDA. As a result of these focused efforts, Dealer NPS surged by an impressive 12.7 points. This substantial increase reflects a stronger customer relationship with dealers. The commitment to addressing these issues has proven to be a transformative strategy for this organisation. 

Schedule a strategy session with our expert team today to see how InMoment can help you identify areas of improvement within your organisation!