Driver Modelling: Defining which customer, relationship, and product information has impact on your NPS.
How and where can I improve my NPS?
How much improvement can I achieve?
These questions arise automatically when you are working on the Net Promoter Score (NPS). As we wrote in our previous blog on this topic: no insight means little to no impact on the NPS. We’ve outlined first steps towards getting insight. And we presented a logical next step : The Driver Model.
Tekst mining will illustrate what your satisfied and above all dissatisfied customers are saying and which subjects they consider to be most important. A logical follow-up question is: what do I need to improve specifically in a specific topic to influence the NPS? And besides the issues that my customers have mentioned in questionnaires, are there other matters affecting the actions and feelings of my customers?
To understand this you need to include more data in your analysis. The good news is that this data is almost always already available. By adding your customer, relationship, and contract/productinformation to your database, predictive modelling will calculate which insights have the most impact on the NPS . The results are displayed in statistically substantiated lists of drivers. Each driver will be attributed a score about the extent of influence it has on the points awarded by your customer to the the NPS. This can be either an increase, but also a decrease.
The Driver Model makes it clear which important events in the omnichannel customer journey have the greatest impact on the NPS. Of course, such a model can also be used for other key customer KPIs, such as the CES (Customer Effort Score) or CSAT (client satisfaction).
Examples of the results of a driver model may include:
- A customer who has received a letter in the last three months gives on average a lower score of-0.98 compared to a customer who hasn’t received this letter.
- A customer who is in product group A gives an average higher NPS score of + 0.5 than customers who are not in this product group.
For each actionable insight you can are now able to create a very specified improvement plan. Here you can see directly to what extent each improvement contributes to an increase in your KPIs!
In addition, an impact model can be used to determine the impact of certain KPIs on, for example, the NPS. Such as: what influence does an increase in the CES have on the NPS. By comparing this with the drivers of the NPS itself, it is possible to prioritise where improvements need to be made to achieve the NPS target . In this way, you can also understand what everyone in the company, including those working with another KPI, will contribute to the NPS. So everyone in your company can work on COMMON CUSTOMER KPIs and will know exactly on which specific goals they should work to contribute to this target!
Customer Journey Analytics Consultant