Customer Loyalty Measurement Can Play Larger Role as Bain Certified Net Promoter Score by J.D. Power Will Benefit Companies through Independently Validating Net Promoter Score Measurements
BEIJING: 18 September 2017 — J.D. Power, a global leader in consumer-driven data and analytics, today announced that Net Promoter Score (NPS) will be available on J.D. Power automotive and finance industry studies in Asia Pacific as the only officially certified NPS benchmark study. This benchmark will be available in key upcoming 2017 and 2018 studies in China and other Asia Pacific markets.
For many companies, Net Promoter Score is an effective internal measurement of customer loyalty. However until now, companies wanting to compare their Net Promoter Score performance against competitors have had no reliable, certified objective benchmark data.
Bain Certified Net Promoter Score by J.D. Power will deliver world-class independent measures of Net Promoter Score benchmarks and advisory services via J.D. Power industry syndicated research. Studies that will have Bain Certified Net Promoter Score by J.D. Power in China include: Customer Service Index (CSI) Study, Sales Satisfaction Index (SSI) Study, and Retail Banking Satisfaction Study (RBSS). Additional upcoming key studies across Asia Pacific, such as Singapore Credit Card Satisfaction Study and Australia Retail Banking Satisfaction Study, will also focus on automotive and financial services.
“Introducing and developing reliable and trusted Net Promoter Score benchmarking helps our clients to focus on taking the actions required to earn deeper loyalty from their customers,” said Gwendolyn Lim, Partner, Bain & Company. “We look forward to working with J.D. Power as a global leading provider of customer satisfaction research, to introduce this competitive benchmark in Asia Pacific markets. Such collaboration will offer companies the highest-level measure customer engagement which can be relied upon when making important decisions. ”
“Through combining Net Promoter Score with the depth of data J.D. Power captures, we will be in a position to offer auto makers and financial institutions a significantly enhanced capability to not only see where they stand relative to competitors, but to more precisely identify and prioritize improvement opportunities,” said Jacob George, Vice President and General Manager, J.D. Power Asia Pacific. “This benchmarking will enable clients to evaluate their performance versus customer expectations conveniently and effectively, instead of relying on costly custom market research studies, which survey customers of both the company and its competitors and too often fall short of correct certified Net Promoter Score methodology. In addition, this combined offering will provide directly actionable information to help improve loyalty.”
This independent Net Promoter Score competitive benchmark follows a methodology certified by Bain & Company, a key requirement for accurate scores. Brands that adopt the new benchmark will be better positioned to improve customer experience, increase brand advocacy and drive positive financial results.
The collaboration will combine J.D. Power’s extensive knowledge of measuring customer feedback with Bain’s deployment of the Net Promoter System® to help companies achieve sector leadership in customer loyalty. The two firms signed an agreement last December to benchmark the Net Promoter Score in a series of industry studies in North America.
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. Those capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, J.D. Power is headquartered in Costa Mesa, California, and has offices in Shanghai, Beijing, Tokyo, Singapore, Malaysia and Bangkok serving the Asia Pacific region.
Bain & Company is the management consulting firm that the world's business leaders come to when they want results. Bain advises clients on strategy, operations, information technology, organization, private equity, digital transformation and strategy, and mergers and acquisition, developing practical insights that clients act on and transferring skills that make change stick. The firm aligns its incentives with clients by linking its fees to their results. Bain clients have outperformed the stock market 4 to 1. Founded in 1973, Bain has 55 offices in 36 countries, and its deep expertise and client roster cross every industry and economic sector. For more information visit: www.bain.com. Follow us on Twitter @BainAlerts.
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