Professional Services Firm Net Promoter® – Client Survey Presentation ABC Consulting 1 Client Survey Net Promoter® Question: What is a professional services firm’s most significant source of new business? Answer: Referrals and repeat business 2 Client Survey Net Promoter® Question: What is the best predictor of referrals and repeat business? Answer: Net Promoter® Score 3 Client Survey Net Promoter® Question: How do you determine Net Promoter® Score? Answer: Ask your clients 4 Client Survey Net Promoter® Question: How do you determine Net Promoter® Score? Answer: Ask your clients: How likely is it that you would recommend ABC to a friend or colleague needing consulting services? 5 6 7 Net Promoter® Concept How likely is it that you would recommend ABC to a friend or colleague needing consulting services? Extremely Extremely Neutral unlikely likely 0 1 2 3 Detractor 4 6 7 8 9 10 Passive Promoter Net Promoter® Score = % Promoter (minus) % Detractor 8 Client Survey Net Promoter® Question: What is a good Net Promoter® Score? Answer: Median in US: about 16% World Class Companies: 75% - 80% Professional Service Firms should be relatively high 9 Client Survey Net Promoter® Question: What is ABC’s Net Promoter® Score? Answer: 40.6% 10 NPS – ABC Consulting 56.6% Promoters minus 16.0% Detractors = 40.6% NPS Detractors 16.0% Passives 27.4% Promoters 56.6% 11 NPS – Office Providing Service Office A Office B 75.6% Promoters minus 2.8% Detractors = 72.8% NPS 60.2% Promoters minus 7.9% Detractors = 52.3% NPS Detractors 2.8% Detractors 8% Passives 21.6% Passives 32% Promoters 60% Promoters 75.6% Office C Office D 42.1% Promoters minus 27.2% Detractors = 14.9% NPS 45.6% Promoters minus 18.3% Detractors = 27.3% NPS Detractors 18.3% Detractors 27.2% Promoters 42.1% Passives 30.7% Promoters 45.6% Passives 36.1% 12 NPS – Product/Services Provided Feasibility Study Information Technology 79.8% Promoters minus 6.3% Detractors = 73.5% NPS 38.2% Promoters minus 29.4% Detractors = 8.8% NPS Detractors 6.3% Detractors 29.4% Passives 13.9% Promoters 79.8% Promoters 38.2% Passives 32.4% Financial Management Human Resources Support 83.2% Promoters minus 3.5% Detractors = 79.7% NPS 28.3% Promoters minus 30.4% Detractors = -2.1% NPS Detractors 3.5% Promoters 28.3% Detractors 30.4% Passives 13.3% Promoters 83.2% Passives 41.3% 13 NPS – Respondent Title CEO/Owner COO 50.4% Promoters minus 23.1% Detractors = 27.3% NPS 65.3% Promoters minus 16.1% Detractors = 49.2% NPS Detractors 16.1% Detractors 23.1% Promoters 50.4% Passives 18.6% Promoters 65.3% Passives 26.5% CFO Other 80.1% Promoters minus 4.8% Detractors = 75.3% NPS 25.8% Promoters minus 16.4% Detractors = 9.4% NPS Detractors 4.8% Detractors 16.4% Passives 15.1% Promoters 80.1% Promoters 25.8% Passives 57.8% 14 Client Survey – Issues Impacting Loyalty and Satisfaction Question Index (A) Mean 1. ABC has outstanding professional and technical consultants. 62.2% 9.0 2. ABC provides excellent quality services that meet my organization's needs. 56.6% 8.7 3. ABC provides timely and responsive service. 12.3% 7.0 4. ABC communicates honestly and openly with me and my colleagues. 75.6% 9.2 5. ABC's fees are appropriate. -1.2% 7.3 6. ABC people behave with fairness, integrity, and professionalism. 77.2% 9.3 Note A : This index is not NPS, but an overall index of agreement with the statement. 15 Competitor Analysis - Client Survey If you have used any of the following consulting organizations (including ABC), please evaluate their performance in serving you. Firm Frequency Mean (A) ABC 275 8.1 DEF 66 6.1 GHI 119 8.7 JKL 81 9.1 MNO 15 6.0 PQR 90 7.1 STU 45 3.4 VWX 42 6.1 Note A: 10 = Excellent 0 = Extremely Poor 16 Service Importance - Client Survey As you think about the future, how important do you think the following issues will be over the next five years? Issue Importance Mean (A) ABC Consulting NPS Feasibility Analysis 2.3 73.5% Information Technology 8.9 8.8% Financial management 5.5 79.7% Human Resource Management 7.3 -2.1% Note A: 10 = Extremely Important 0 = Extremely Unimportant Note: Client ratings of the most important issues for the future are the service offerings for which ABC Consulting has the lowest Net Promoter® scores (Information Technology and Human Resource Management). 17 Client Survey – Some Questions to Consider – ABC Consulting What should we do about our relatively low NPS in Office C and Office D? What should we do about our low NPS in Information Technology and Human Resource Support, which are becoming increasingly important issues to clients? We have excellent ratings among CFOs, but much lower ratings among CEOs and some other categories. Implications? What should we do about this? Should we be concerned about potential slow growth in our core high NPS services (Feasibility Studies and Financial Management). What should we do about this? How can we improve the responsiveness of service? Two competitors are rated higher than our firm by our clients. How should we address this? How can we better explain our fees to clients? 18 For Information For additional information about Net Promoter® Score and its application for professional services firms, please contact: Gerald Wexelbaum Strategy Support Associates (561) 479-3229 geraldwex@ssamail.com Net Promoter® is a registered trademark of Satmetrix Systems, Fred Reichheld, and Bain & Company 19