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Product Description
Net Promoter Score is a measure of customer loyalty that has been linked to company growth in numerous studies across industries and around the globe. Developed by Satmetrix, Bain & Company, and Fred Reichheld, the NPS concept has been embraced by leading companies worldwide as the standard for measuring and improving customer loyalty. This report covers customer experience for the following 14 financial institutions offering consumer banking services in the United States: Bank of America, Chase, Citigroup, Citizens Bank, Fifth Third Bank, HSBC Bank, National City, Regions Bank, SunTrust Bank, U.S. Bank, USAA, Wachovia, Washington Mutual, and Wells Fargo. Banking institutions saw declines in NPS over the previous year, showing the impact of the current financial crisis on brands that compete in this industry. Banking had an average NPS of only about 15 percent, but the segment leader, USAA, scored 89 percent, nearly 100 points above the sector’s laggard, Citigroup. Data for the report was collected in Q4 2008 using an opt-in email survey with consumers who had purchased from these companies within the past year.
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