Our NPS is +96, but so what?
Post by Mearns & Company in News
We recently heard that our Mearns & Company NPS is now +96. It sounds really good but what does it mean and is it really good?
After a bit of “Googling”, it turns out that this isn’t just good, it’s amazing! Anything above zero is “good”, above 20 is “favourable”, above 50 is “excellent” and above 80 is “world-class”!
NPS stands for Net Promoter Score and is used as a metric to measure customer satisfaction and loyalty. For instance, how likely are you to recommend us to a friend?
“Insurer NFU Mutual (70) is the company with the highest NPS in the UK, according to Bain & Company’s first UK Consumer Study shared exclusively with Marketing Week in October 2019. This is followed by First Direct (63), Volvo (49), Netflix (49) and Amazon (44).”
Some big names in there that we would consider premium brands – I’m now feeling really proud of our score After finding out about the Net Promotor Score it’s all starting to make more sense to me.
I’m writing from a unique perspective in the company – I’m both an employee and a client.
As an employee, I see how hard we work for our clients and that we truly put them at the heart of our business. We love to take the time to get to know our clients properly and by helping people understand how their financial health can be improved we provide them with reassurance that they can have a secure retirement. I’ve heard directly from clients how much they value what we do for them and this is being reflected in our NPS.
After working with the company for several years and seeing the excellent service we provide at first hand, we took the decision to move to Mearns & Company for our own financial planning and it’s the best financial decision we’ve ever made. Our adviser “gets us” and understands what we are hoping to achieve. There is a large support team too who make sure we are always looked after.
To assess our NPS we send feedback questionnaires out quarterly to clients who are selected at random. We also send feedback questionnaires to new clients once they have fully ‘onboarded’ with us. We ask for honest feedback, good and bad, and how likely they are to recommend us to friends, family or colleagues (on a scale of 0-10). The score that clients complete on our questionnaires produces our NPS. I know that we score quite a few tens!
Does this all sound too good to be true? Don’t we make mistakes? Sure, we are human, so sadly sometimes we do make mistakes. However, we do more than that, we admit to our mistakes and take ownership for them. This is the true mettle of Mearns & Company and, I think, shows just how important our clients are to us and it is this feeling of being looked after that they truly value.
So, back to that score of +96. Can we make it to +100? Is there such a thing as perfection? I don’t know, but what I do know is that we won’t stop trying to find out.
Hazel McMillan, Executive Assistant