USAA, Navy Federal Credit Union, and Apple Are the Most Recommended Companies, According to New Temkin Group Research
Seventh Annual Benchmark Study of Net Promoter® Scores (NPS®) Includes Data on 342 Companies Across 20 Industries
WABAN, Mass., Oct. 1, 2018 /PRNewswire/ -- Temkin Group released a new research report "Net Promoter Score Benchmark Study, 2018" based on a study of 10,000 U.S. consumers.
Net Promoter Score (NPS) has become a popular customer experience metric. NPS measures the likelihood of consumers to recommend a company to their friends and family, using a scoring range from -100 to +100.
With an NPS of 65, USAA's banking business earned the highest score in the study. USAA's insurance business and Navy Federal Credit Union followed closely behind, each earning an NPS of 64. The next five highest scoring companies are USAA's credit card business, Apple (for computers & tablets), H-E-B, JetBlue, and Southwest Airlines.
Spectrum received an NPS of -16, the lowest score in the study. The next lowest rated companies are all TV/Internet service providers or utilities: Consolidated Edison of NY, Arizona Power Company, Pacific Gas and Electric, and Cox Communications, and Comcast.
"When used appropriately, Net Promoter Scores can provide a strong indication of your relationship with customers," states Bruce Temkin, Managing Partner of Temkin Group. Temkin goes on to say, "Like any customer metric, NPS is only valuable when it's part of a program for driving improvements."
Additional highlights from the study include:
- The industry average for NPS ranged from a high of 39 for auto dealers and streaming media down to a low of 0 for TV/Internet service providers.
- USAA's and Navy Federal Credit Union's scores both outpaced the banking industry average by more than 40 points, while Motel 6's and Super 8's scores both fell nearly 30 points behind the hotel industry average.
- Only five industries saw their average NPS increase over the past year. Of those, airlines' and utilities' scores increased the most, going up three points each.
- Although a majority (54%) of companies' NPS declined over the previous year, three companies – BCBS of Florida, Fairfield Inn, and Ameren Illinois Company – actually increased their NPS by more than 20 points since 2017.
- Jeep dealers' NPS declined by 22 points over the previous year, the most of any company we evaluated. Wells Fargo and Wyndham earned the next largest NPS drop.
- On average, companies with string experience enjoy an NPS that is 21 points higher than the NPS of customer experience laggards.
The 20 industries included in this report are airlines, auto dealers, banks, computer and tablet makers, credit card issuers, fast food chains, grocery chains, health plans, hotel chains, insurance carriers, investment firms, major appliance & TV makers, parcel delivery services, rental car agencies, retailers, software firms, streaming media services, TV and Internet service providers, utilities, and wireless carriers.
The report "Net Promoter Score Benchmark Study, 2018" can be downloaded from the Customer Experience Matters blog, at ExperienceMatters.wordpress.com as well as from the Temkin Group website, www.TemkinGroup.com.
About Temkin Group: Temkin Group is a leading customer experience research, consulting, and training firm. Many of the world's largest brands rely on its insights and advice to steer their transformational journeys. Temkin Group combines customer experience thought leadership with a deep understanding of the dynamics of organizations to help accelerate results. Rather than layering on cosmetic changes, Temkin Group helps companies embed practices within their culture that engage the hearts and minds of customers, employees, and partners. For more information, contact Bruce Temkin at 617-916-2075 or send an email to [email protected].
About Bruce Temkin: Bruce Temkin is widely recognized as a customer experience visionary and is Customer Experience Transformist and Managing Partner of Temkin Group. He is also the author of the very popular blog, Customer Experience Matters®. Prior to forming Temkin Group, he was a VP at Forrester Research for 12 years. Bruce is a highly demanded speaker and regularly quoted in the press. He is also the co-founder and Emeritus Chair of the Customer Experience Professionals Association.
Net Promoter Score, Net Promoter, and NPS are registered trademarks of Bain & Company, Satmetrix Systems, and Fred Reichheld.
Customer Experience Matters is a registered trademark of Temkin Group.
SOURCE Temkin Group
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