With Iris – NPS Benchmarks to empower your retention strategy, the customer experience and retention management platform zenloop expands its product portfolio with an NPS® Benchmarking Database.
It allows users to delve even deeper into the analysis of their own NPS performance and compare themselves with peers and competitors. With its unique Customer Experience SaaS solution, zenloop enables companies to collect, analyze, and respond to customer feedback in real time. Using the established Net Promoter System® (NPS) and with the help of machine learning, zenloop fixes the causes of customer churn. To do this, feedback is collected along the entire Customer Journey and translated into personalized and executable actions to drive customer loyalty and boost retention.
Until now, users did not have access to reliable NPS benchmarks. For one, corresponding comparative values were not freely available, and secondly, when benchmarking Net Promoter Scores accuracy is vital. The watchword is: Only compare apples to apples. Depending on the organization’s industry, the country in which the NPS is queried, the product or Touchpoint, NPS scores vary greatly, making reliable benchmarking almost impossible.
With the Iris Benchmarking Database, this is now changing: Iris offers comprehensive comparative values with your peers and competitors. The comparison can be granular, based on touchpoints as well as survey language.
As a result, companies can even more precisely, granularly and accurately identify strengths and weaknesses in the customer's purchasing process and the customer experience offered. This, in turn, makes it easier to monitor and evaluate the results of development goals and adjustments made to processes.
Paul Schwarzenholz, Retention Platform zenloop co-founder and CEO, about Iris: "NPS has become a world-renowned and widely used method of identifying customer retention and loyalty. Users also want to know the score of their peers and competitors, not just their own. However, currently this data is effectively unavailable. Developing a comprehensive NPS database that allows companies to undertake this analysis and benchmark against their peers, and even make internal comparisons was simply the next logical step for us."
The blue line shows the own NPS performance in the selected survey. As usual, the period examined can be filtered by day, week, and month. For comparison, the top score, average and lowest score are displayed using green, yellow and red lines, based on our data from the last twelve months. We reference records that correspond to the selected survey.
The "Internal benchmarks: Touchpoint" graph displays the NPS data from your own account matching the country of the selected survey. This allows you to compare the performance of different touchpoints within a country. In general, however, users should bear in mind that NPS varies according to Touchpoint. Nevertheless, it is easy to see where there is need for improvement.
The "Internal benchmarks: Country" graph, on the other hand, shows all your NPS data from surveys matching the touchpoint of the selected survey. Thus, NPS performance for a touchpoint in differing markets can be compared. Here, too, the following applies: Depending on country, there are generally slight variations in the form of Net Promoter Score. Nevertheless, major differences indicate in which market improvements need to be made for the touchpoint under consideration.
In the future, the Berlin-based start-up intends to invest more in the expansion of their products in order to provide customers with further analysis and action opportunities. The next product releases are already planned for the coming months and new features already in the starting blocks, waiting to see the light of day.