mSurvey Q1 2018 Net Promoter Score (NPS) benchmark reveals how Kenya’s top brands are staying ahead in customer experienceApr 12, 2018
mSurvey, in addition to providing a platform for measuring customer experience and loyalty, aims at providing industry Net Promoter Scores (NPS) benchmarks and top brand scores to help businesses make comparisons and set improvement goals.
Businesses are increasingly adopting the Net Promoter Score (NPS), a customer loyalty metric that enables businesses to determine how likely their customers are to recommend their products and services. NPS has been adopted by more than two thirds of fortune 1000 companies such as Amazon, Apple and Sony just to name a few.
According to NICE Satmetrix, the co-developer of Net Promoter, research behind the Net Promoter methodology shows that companies with scores higher than their competitors grow faster and are more successful. Richard Owen, co-creator and published author of NPS asserts, “A business with more promoters will grow a lot faster.”
Although businesses are now able to track their own performance, knowing how they perform compared with their fellow industry players in terms of customer experience has remained unclear. It is important to note that every industry has different levels of NPS relative to their competition, requiring these sectors to be measured, compared and evaluated contextually.
Our Quarter 1 industry benchmark for 2018 focused on seven industries, namely:
- Telcos (23)
- TV Cables Services (22)
- Banking (20)
- Insurance (5)
- Energy (31)
- Health Facilities/ Hospital (-4)
Retail/ Modern Trade (19)
Under Telcos the leading brand was Telkom Kenya with an NPS of 32, with their promoters hailing the network for their internet speed as well as providing cheap internet bundles. The efficiency of Mpesa and the variety of services and promotions that come with Safaricom are the most mentioned reasons by the company’s promoters. However, the increasing number of detractors feel that the experience is diluted by what they say is expensive pricing. There is also a significant proportion who say that data bundles are consumed faster or cost more. The Airtel experience is described as economical, affordable and cost effective by many on the other hand. However the provider’s network coverage remains an impediment to a great experience for many.
Customer delight in the banking industry mainly comes from customer service, transaction fees and accessibility. All attributes that were possessed by the three leading banks. Innovation was also a major theme with KCB Bank’s Mpesa feature and Equity Bank’s Equitel and Eazzy app services making a positive impact on their customer experience in addition to the great customer service which makes them feel valued. All these factors have tremendously increased the ease of transacting. On the other hand long queues and subsequently the time it takes to be attended to were the main concern among detractors.
Under insurance Kenya’s three leading brands were UAP Old Mutual, Jubilee Insurance and Resolution Health, scoring well above the industry NPS average of 1. A fairly easy claims process, fairly priced policies, reliability and quick reaction time when needed were attributes that played a pivotal role in the customer delight of these top brands.
DSTV took the lead led under the TV and Cable Services industry, their main source of delight for their customers is having a wide variety of channels that cater to the tastes of all household members. Their pricing however is the largest source of discontent for their customers, an area which StarTimes and GoTV are excelling at as most of their promoters say that they have affordable bouquets that offer diverse content.
mSurvey’s Voice of the Customer NPS service has not only enabled businesses to measure their customer loyalty but also enabled them to understand the real drivers of their customer experience performance. Our platform is not only a means to communicate with their customers but also a means to reduce churn and increase innovation around product development.