Why service still matters
We’re living in the digital age and clearly many companies have invested heavily in technology platforms to provide great online experiences and realise processing efficiencies, but could this be better balanced by improving services across all channels of delivery? Quite often the customer’s experience of dealing with back office functions doesn’t quite live up to the expectations set by navigating through seamless online journeys.
Delivering a market leading customer experience is our passion here at YBS Share Plans and whilst we understand the importance of technology in the modern world, we understand that different customers want to interact with us in different ways.
Putting customers at our heart, is a value that stands firmly at the core of our business and so we give our customers lots of opportunities to tell us what they think about our service. It’s really important that we know what our corporate clients and their share plan participants are thinking and feeling about us and how they’d like to interact with us. This helps us shape our business for the future and ensures all the improvements we make to our services are approached with their requirements at the forefront of our minds.
We use a number of different customer satisfaction metrics that provide valuable insight on a range of issues; key amongst which is the Net Promoter Score® (‘NPS’). NPS is a measure of customer advocacy towards a brand used widely within the services industry and records on a scale of 0-10 how likely it is a customer will recommend our services to a colleague. NPS is the % of Detractors deducted from the % of Promoters – i.e. the net position.
At YBS Share Plans we use four different surveys to collect an NPS score as well as valuable free format feedback.
The Relational & Corporate Client surveys collect share plan participant and corporate client feedback on all aspects of their relationship with YBS Share Plans via a monthly e-mail distribution (typically issued following a period of activity).
The Call Centre NPS Survey is a short automated survey offered at the end of each call which collects share plan participant feedback on the service provided by the YBS Share Plans Helpline.
The Transactional NPS Survey collects feedback on the online user experience and is offered as a ‘pop up’ at the end of each online customer journey.
In addition to collecting an NPS score, each survey also incorporates separate measures for customer satisfaction and customer effort and all survey respondents are given the option to provide specific free format commentary to expand on any strength, concern or perceived gap in service.”
The NPS surveys are just one of the ways we collect feedback about product and service delivery. We also use the output from independent research conducted by the Universities of Durham and Leeds, complaints investigation and root cause analysis and suggestions from the ‘The Hive’ (an internal improvement suggestion forum).
All of these together provide key insight about the performance of our front line service touch points across all our channels of delivery and help us understand how we’re doing and how we can improve. We overlay all this information to create our roadmap for improvement – both small fixes and big changes.
With a Corporate Client NPS of 65 and a Share Plan Participant NPS of 43 at the beginning of November 2016, YBS Share Plans is performing fantastically well in comparison to much of the market.
This provides reassurance that the time we spend listening to our customers is helping to drive further improvement in our business and a service that exceeds expectation; whether they interact with us across digital platforms, via the telephone or face to face.
Martin Nellist is client experience manager at YBS Share Plans.
This article is sponsored by YBS Share Plans, part of Yorkshire Building Society.
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