CLIENT’S INDUSTRY: Insurance
CLIENT’S CHALLENGE
The client, a leader in the insurance sector, was grappling with the challenge of gauging customer sentiment over time to assess and manage their brand reputation. Operating in an ever-evolving insurance marketplace, it became imperative to closely monitor shifts in consumer attitudes and preferences. The client managed two distinct online communities, each serving a different segment of their market: one catered to consumers, offering them a platform to voice their experiences and opinions; the other was comprised of business decision makers to discuss trends and services. The client sought a comprehensive approach to measure and analyze sentiment across these platforms to ensure they remained at the forefront of customer satisfaction and industry innovation.
SOLUTION
In response to these challenges, the client engaged Prime46 to develop a strategic program aimed at methodically tracking customer and decision maker sentiment. This solution took the form of an online survey, systematically distributed on a quarterly basis to the members of both online communities. These recurrent surveys, scheduled at multiple points throughout the year, were designed to capture evolving attitudes and perceptions. To enrich the data, a probing question followed the standard Net Promoter Score (NPS) query, “How likely are you to recommend our brand to a friend or colleague?” This addition was intended to unearth the motivations behind participants’ scores. Respondents rated their likelihood of recommending the brand on a scale of 0-10, allowing them to be categorized as Promoters, Passives, or Detractors. This segmentation provided a clear indicator of the brand’s standing, with a higher number of Promoters and fewer Detractors reflecting a stronger brand reputation amongst survey participants.
RESULTS
Over the span of nearly seven years, Prime46 has consistently administered quarterly Net Promoter Score (NPS) surveys on behalf of the client. The data accumulated throughout this period exhibited significant fluctuations in the scores, reflecting the dynamic nature of customer sentiment in the insurance sector. Scrutinizing the verbatim responses alongside the quantitative data provided a qualitative depth, shedding light on the underlying factors influencing customer attitudes. This comprehensive understanding enabled the client to proactively address issues within the consumer and business decision maker communities. By anticipating and responding to these challenges promptly, the client could effectively mitigate concerns at an early stage, ensuring a more stable and positive sentiment trajectory.
SUCCESSES
Utilizing the Net Promoter Score (NPS) has empowered the client with acute insights into the perceptions of their dual customer groups, enhancing their understanding of customer retention probabilities. The follow-up questions in the surveys have been instrumental, unveiling the distinct attitudes and opinions within their customer base’s subgroups. This granular feedback has offered the client a deeper, more nuanced grasp of customer sentiment. Furthermore, the NPS has served as a benchmarking tool, allowing the client to measure their brand’s standing against competitors in the insurance industry. This comparative analysis has furnished the client with valuable context regarding their brand’s progress and stability within the marketplace.
SUMMARY
Prime46’s deployment of quarterly NPS surveys over seven years provided the client with critical insights into customer sentiment, enabling proactive issue resolution and fostering brand stability. The approach offered comparative industry benchmarks and nuanced customer understanding.
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