JOINING FORCES WITH BAIN & COMPANY TO PRODUCE NET PROMOTER SCORE® BENCHMARKING STUDIES IN NINE RETAIL CATEGORIES
ROI Consultancy Services – an industry-leading provider of full-service research, marketing and sales automation, and digital agency support to consultants, investors, and corporate clients – and Bain & Company, one of the world’s top management consulting firms, have joined forces to produce Bain Certified Net Promoter Score® benchmarking studies as part of a series of industry studies in North America.
Under the agreement, ROI and Bain & Company will jointly produce a Bain Certified Net Promoter Score® study in nine retail categories: grocery; women’s clothing, children’s clothing, beauty products, pet food and supplies, sports equipment and athletic clothing, consumer electronics, home products, and home furniture. These annual studies establish and track ranges for consumer advocacy among competitors in each sector, with additional insight available from verbatim comments. For more information, visit the Net Promoter System website.
This independent competitive benchmark follows the NPS methodology certified by Bain & Company, ensuring accurate, reliable scores. Brands that adopt the new benchmark will be in a better position to improve customer experience, increase brand advocacy and drive positive financial results.
“Partnering with ROI to produce high-quality, independent competitive benchmarking studies creates tremendous opportunity for our clients and other customer-focused companies,” said Rob Markey, partner at Bain & Company and co-author of The Ultimate Question 2.0. “Customer-centric companies need to have a clear understanding of their competitive position as expressed by their customers, in their own words. The Bain Certified NPS benchmarks produced by these studies provides the best starting point for organizations that want to improve their customers’ experience and loyalty.”
The collaboration combines ROI’s industry leadership in survey execution, sample frame science, and sourcing and verifying reliable respondent sets with Bain & Company’s expertise in deployment of the Net Promoter System® to help companies achieve sector leadership in customer loyalty.
Beyond these benchmarks, ROI has built Market Driver Models for each of the sectors, correlating the NPS metric with the underlying drivers of consumer behavior influencing each market. In addition, ROI continues to support Bain & Company across multiple sectors, including non-consumer research targeting hard to find B2B, professional, and healthcare audiences.
“We are grateful and honored to be partnering with Bain & Company on this important initiative to develop reliable and standardized benchmarks in as influential a metric as NPS. We look forward to making these retail categories an annual benchmark and to adding new categories in the coming year,” said David W. McGrath, CEO of ROI.
ROI is part of the Bain Alliance Ecosystem – a network of best-of-breed partnerships with complementary tool, technology, and service providers that accelerates delivery of breakthrough client results. Through the Bain Alliance Ecosystem, Bain & Company clients have access to relevant new capabilities, enabling faster assimilation of new ideas, skills, and ways of working.
For additional insights drawn from these studies, please see Bain’s recent article in Forbes, “Coping with the Amazon Factor in Private Equity” In the article, the Bain team uses Amazon’s NPS drawn from the 2017 Advocacy in US Retail Study (based on these benchmarks) as a way to illustrate its success in the retail space.
ADDITIONAL NPS BENCHMARKING RESOURCES
Noah Seton, Senior Partner, ROI Consultancy Services
In his capacity as the leader of the ROI Consultancy Services practice, Noah oversees the firm’s relationships with the world’s leading management consulting and private equity firms. Prior to founding PollBuzzer in 2011 and partnering with ROI Rocket in 2014, Noah was a management consultant at Bain & Company, where he advised clients in the financial services, healthcare, and consumer products industries on a range of strategic and operational issues, and his practice included several engagements with private equity firms in their diligence of potential targets. Noah is a graduate, cum laude, of Harvard Law School and magna cum laude of Harvard College and began his career as an attorney in the litigation department of the law firm of Gibson Dunn & Crutcher LLP.