XM Institute NPS and Customer Ratings Benchmark Solution XM Institute NPS and Customer Ratings Benchmark Solution

XM Solution Guided Program

XM Institute NPS and Customer Ratings Benchmark Solution

Quickly stand up a relational program, capture valuable insights and measure against two XM Institute benchmarks: ‘XMI Customer Ratings - Consumer NPS’ and ‘XMI Customer Ratings - Overall’

Core Experience

Customer Experience

Created By

Qualtrics XM Institute

COST

Included with License

Since many companies use Net Promoter® Score (NPS®) to evaluate their customers’ loyalty, they also need an NPS Benchmark to compare scores across organizations, industries and leaders. This new solution not only includes an NPS Benchmark from the XM institute but it also includes another benchmark called the XMI Customer Ratings – Overall which is a composite metric of customer experiences measured across three dimensions: success, effort, and emotion. This benchmark was formerly known as the Temkin Experience Ratings.

Quickly launch this XM Solution and use the benchmark data from ‘XMI Customer Ratings – Consumer NPS’ and ‘XMI Customer Ratings – Overall’ to start collecting feedback from your customers, establish company standards, compare yourself to industry leaders, and identify where action is needed to improve the customer experience.

As you collect feedback, the dashboard will be populated with response data. The dashboard is configured to display your company’s scores alongside the industry average and leader.

Outcomes Delivered

  1. An overall CX metric you can measure and track over time
  2. Ability to benchmark your key metrics against your industry average and leader
  3. Make powerful decisions based on driver data

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Companies can:

  1. Quickly stand up a relational NPS survey and a Customer Ratings Overall program to measure and analyze against XM Institute benchmark data
  2. Use the XM Institute benchmark data to establish company standards and compare yourself to the industry average and leader
  3. Use pre-configured dashboards and key drivers to monitor NPS and Customer Ratings Overall to take action

XMI Customer Ratings – Consumer NPS

Many large companies use Net Promoter® Score (NPS®) to evaluate their customers’ loyalty. The NPS benchmark used in this dashboard can either be the average NPS for your industry or the leader or you can choose to display both.

With this XM Institute benchmark, you can:

  1. Understand how your company’s NPS performance compares against the industry average and leader
  2. Identify companies that are delivering best-in-class customer experiences based on NPS
  3. Establish NPS goals based on company and industry comparisons

XMI Customer Ratings – Overall

How does the quality of customer experience differ across industries? To address this question, the XM Institute created the ‘XMI Customer Ratings – Overall’, which evaluates the quality of the customer experiences delivered by U.S. companies. The ‘XMI Customer Ratings – Overall’ benchmark used in this dashboard can either be the average for your industry or the leader or you can choose to display both.

With this XM Institute benchmark, you can:

  1. Understand the overall performance of your customer experience program using 3 key criteria — success, effort and emotion
  2. Establish customer experience goals, compare your performance to industry peers and against the market overall
  3. Identify the industries delivering best-in-class customer experiences and see the top brands within each industry

What You Get

To compare scores across organizations and industries, Qualtrics XM Institute measured the NPS and customer ratings overall of more than 294 companies across 20 industries based on a survey of 10,000 U.S. consumers. The data in the benchmark comes from XM Institute’s Q2 2019 Consumer Benchmark Survey, which was conducted in May 2019. The benchmark data is updated annually.

The following industries were included in both benchmark studies:

  1. Airlines
  2. Auto Dealers
  3. Banks
  4. Computers & Tablets
  5. Credit Cards
  6. Fast Food
  7. Health Plans
  8. Hotels & Rooms
  9. Insurance Carriers
  10. Investment Firms
  11. Parcel Delivery
  12. Rental Cars & Transport
  13. Retailers
  14. Software Firms
  15. Streaming Media
  16. Supermarkets
  17. TV/ Internet Service
  18. TVs & Appliances
  19. Utilities
  20. Wireless Carriers

This XM Solution contains XM Institute NPS benchmark data, email templates, questions, dashboards, and key drivers from two XM Institute benchmarks:

1. XMI Customer Ratings – Consumer NPS
2. XMI Customer Ratings – Overall

With this pre-configured solution, you can use dashboards to display your company’s benchmark scores alongside industry averages and use key drivers to better understand where to focus to improve the customer experience.

The first page of the dashboard outlines key metrics related to your organization’s NPS and Customer Ratings Overall. Here you will also be able to use the verbatims widget to display open comments and the key driver widget to see your company’s key drivers by satisfaction.

Further, you will be able to use widgets to analyze demographic information and quickly pinpoint and compare how your company is doing relative to industry averages in the context of success, effort and emotion.

And lastly, the dashboard also provides insights into historical comparison so you can measure against industry average over time.

Solution Details

All CX licenses

The inclusion of the XMI Customer Ratings – Overall & XMI Customer Ratings – Consumer NPS Benchmark Solution can be included within the initial implementation or can be easily added at a later time.

Languages

English

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