Forrester just published The European Net Promoter Rankings, 2022 report, including the Net Promoter Score℠ (NPS) and industry rank for 114 brands in banking, auto and home insurers, and auto manufacturers across France, Germany, Italy, Spain, and the UK. We asked 30,000 European consumers in our annual Customer Experience Benchmark Survey about their likelihood to recommend brands that they interacted with in the past 12 months, using the standard NPS question and calculation. We found the following:
- Banking: Country leaders mostly defended their position. Overall, challenger banks typically perform better than their traditional banking peers, as shown by leaders like Crédit Mutuel in France, Banca Mediolanum in Italy, ING in Germany and Spain, and Starling Bank in the UK (despite gains by other banks in the UK).
- Auto and home insurers: Almost all of last year’s leaders prevailed. Most countries, except the UK, saw relatively little movement in scores. France has a new leader with GMF, but there is little movement among German, Italian, and Spanish insurance brands.
- Auto manufacturers: Toyota excels across all European countries. Toyota is defending or taking the lead in four of the five countries, with few significant score changes. In the UK, Toyota is tied with Hyundai.
Beware Of Some Common NPS Pitfalls When Reading The Rankings
Seventy-four percent of CX pros said that their organization’s top-level executives use NPS or likelihood to recommend to gauge success of the CX program, according to our recent report, The State Of VoC And CX Measurement Practices, 2022. If your company is among these “NPS shops,” please keep the following in mind as you look at Forrester’s European Net Promoter Rankings:
- NPS is a loyalty metric, not a direct measure of CX quality. It is only effective at improving CX when it’s part of a CX measurement and improvement system that measures the performance of your customers’ journeys.
- The Net Promoter Scores in this report are more like relationship Net Promoter Scores than transactional Net Promoter Scores.
- We recommend you use this ranking to see your relative competitive position. Even if you measure NPS internally, we don’t recommend comparing your scores directly to ours. That’s because the NPS you measured will probably be higher than an NPS derived by a third party such as Forrester, partly because people feel less obliged to be nice when rating your brand with a third party.
For a detailed analysis of each brand’s ranking and for insights into key drivers of NPS, read the full report, The European Net Promoter Rankings, 2022, or schedule a call with us.