Xerago Increases the NPS for a Large International Bank with Simple Measures in Two Geographical Locations
Our Client is a large bank with a presence across 19 different countries in the world. The bank provides a wide range of products and services to consumers, institutions and corporates.
Net Promoter Score or NPS is a simple metric that yields powerful insights into two important aspects of a business — loyalty & brand advocacy. NPS is measured by asking customers/employees the likelihood of recommending a product/service to family or a friend.
Having a responses pool consisting of promoters is good news for your business. On the other hand, if the majority fall in the ‘Passives’ & ‘Detractors’ category, then it is an indication that you must invest in customers/employees more.
NPS has a direct co- relation with acquisition numbers and customer loyalty.
India and Thailand are the biggest markets for the bank along with Thailand in the APAC region. And they both had problems.
- India India had an NPS of only around 4.
- Thailand witnessed a low rating on lifetime score for Android 3.4 version.
These numbers could be improved.
- India - Our team proactively started reporting the scores on a weekly basis so as to bring it to the notice of stakeholders and also gave inputs on how the improvement in response rates can help in achieving better NPS. The team started using the solutions on improving responses and we started seeing marginal increase of 3 % in very first month.
- Thailand – here, the market saw low ratings on the lifetime score for the Android 3.4 version. Xerago did a detailed analysis on the various aspects that could have had impacted the lifetime score for android. They saw that there was a features and password issue in the app’s 9.4 version. On Xerago’s insistence, the issue was fixed.
All this saw a huge increase in number of positive reviews about the app, which had a positive impact on lifetime score which increased from previously 3.4 to 4.0 in just 2 months.
Xerago helped the client proactively to improve scores that have a direct co-relation with acquisition and loyalty. In a series of simple, yet logical steps, the issues were fixed and there was a significant increase in the outcomes in less than 3 months.