Sydney– July 16, 2020 – Bain & Company’s “NPS Prism” has officially launched in Australia, aimed at helping Australian companies uncover actionable insights that they can use to make clear operational decisions and drive customer experience improvement. NPS Prism addresses a crucial problem for business leaders: the lack of reliable, high quality Net Promoter Score® benchmarks for gauging competitive performance and progress against goals. Powered by a double-blind research and supported by state of the art software, advanced analytics tools, and machine learning capabilities, NPS Prism adds a state of the art capability for driving those benchmarks down to each episode of the customer journey.
“We launched NPS Prism last year in the United States and since then have seen immensely positive customer feedback as we’ve allowed companies to hear the voice of their customers clearly, understand how they stack up against their competitors, and identify and act on the moments which matter most to their customer’s experience.” said Jason Barro, a partner in Bain & Company’s Customer Strategy & Marketing practice and the Founder of NPS Prism. “Australian companies and consumers have been going through some dramatic changes and will have to develop a new way of thinking post-COVID, and we believe Prism will provide our clients in understanding their consumers and their changing needs in an in-depth and incredibly powerful way.”
Companies increasingly compete to differentiate their customer experience as a key to earning the customer loyalty that drives profitable growth. Yet customer expectations continue to increase rapidly. Executives need to maintain a deep, up-to-date understanding of where their companies stand versus competitors, along with clarity about what truly earns long-term customer loyalty, so they can create a superior experience in this opaque, evolving landscape.
Bain & Company, the inventors of Net Promoter® System, developed NPS Prism to provide a comprehensive, outside-in understanding of opportunities to create a superior customer experience from the consumer’s perspective, rather than through the lenses of a functional organization. NPS Prism uncovers insights at a far more granular level than any other study in the marketplace, revealing unique opportunities and risks. For the first time ever, organizations in Australia can see how the critical components of their customer experience stack up against the competition, and how they contribute to their company’s overall differentiation in the minds of customers. This allows them to define and prioritize actionable improvement tactics and investments.
“What is unique about NPS Prism is its focus on customer episodes and its ability to identify and just as importantly, prioritize, crucial areas of improvement within each episode to deliver a superior customer experience.” said Karsten Fruechtl, a partner in Bain & Company’s Melbourne office and a leader in Bain’s Telecommunications practice. “This service will be of huge strategic value to our customers in Australia and we are already seeing demand for it in the Telecom space, which has seen significant disruption over the past few years.”
NPS Prism is based on Bain & Company’s deep understanding of the customer experience journey and its customer episode approach. Customer episodes, defined as a sequence of events that leads to the resolution of a customer need such as applying for a credit card or returning a retail purchase, offer the most relevant customer-focused way to understand the customer experience. NPS Prism provides the only reliable, outside-in metrics available today to support these crucial building blocks of a truly customer-centric organization.
Editor's Note: To arrange an interview, contact Nicholas Worley at email@example.com or +852 2988 8800
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Across 59 offices in 37 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster and more enduring outcomes. Our 10-year commitment to invest over $1 billion in pro bono services brings our talent, expertise, and insight to organizations tackling today’s urgent challenges in education, racial and social equity, economic development and the environment. Since our founding in 1973, we have measured our success by the success of our clients. We proudly maintain the highest level of client advocacy in the industry, and our clients have outperformed the stock market 4-to-1.