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NPS survey good indicator of member engagement
Super fund members found the Net Promoter Score (NPS) Survey is a good tool for gauging member engagement and keeping in touch with member needs.
The survey measures customer satisfaction by giving each participant an NPS.
It was developed jointly by the Fund Executives Association (FEAL), Customer Service Benchmarking Australia (CSBA) and Melbourne Business School (MBS).
Research director of CSBA Pat Heaslip said survey participants found the survey useful for future strategy and planning initiatives.
Over 30 superannuation funds from around Australia participated in the survey this year.
Heaslip said 200 super fund members from within each of the funds were interviewed in over 6000 interviews.
"This gave us a real insight into what drives customer satisfaction. In addition, we interviewed 50 employers from 11 funds to assess their satisfaction in dealing with superannuation funds," she said.
The NPS is a metric obtained from responses to the question "how likely are you to recommend".
The results were then analysed at the MBS at a workshop, facilitated by a specialist in the field.
Acting CEO of FEAL Joanna Davison said the survey was a cost effective way of measuring and improving member satisfaction and retention.
"It has become the recognised industry benchmark, and as a result, a number of boards and CEOs now require a benchmarked NPS in their regular reporting," she said.
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