Net promoter scores are controversial. Why do firms use them?
From “strategic” to “service” and “journey” NPS, companies are finding new and inventive ways of giving them the numbers they – and their executives – want.
Outside financial accounts, net promoter score is the most commonly tracked corporate metric, according to the Australian Institute of Company Directors. Harry Afentoglou
Commonwealth Bank chief executive Matt Comyn stood in front of enormous yellow letters reading “brighter” in the bank’s Eveleigh headquarters in inner southern Sydney. Jacket off, tie on, Comyn told staff of a new, ambitious target for the bank: it would reach a net promoter score of +30 within three years. That was in February 2023. Two years and four months later, CBA’s net promoter scores have barely moved.
For all the effort, its measure among consumers has inched upwards from about 4 to 8.4. Among businesses, it has grown from -6 to -2.7. Growth, sure. But not a result to shout from the rooftops.
Sam Buckingham-JonesMedia and marketing reporterSam Buckingham-Jones is the media and marketing reporter at The Australian Financial Review. Connect with Sam on Twitter.
