A widely used measure of client satisfaction – the Net Promoter Score (NPS) – shows Goodmans to be world-class, putting us in the same league as Tesla… and very few others.
At Goodmans, client experience is everything, so we work hard to provide the best service possible. While we’re confident that we’re doing a good job, we’re always looking for ways to innovate and improve. That’s why we regularly check in with clients to ask for feedback and make sure they’re happy with us. And we’re more than thrilled with the results.
What's the Net Promoter Score?
One key way we measure customer satisfaction is by sending a survey after every client review, focusing on one simple question:
“On a scale of 1–10, how likely are you to recommend us to a friend or colleague?”
Hundreds of thousands of companies from every industry across the world ask their clients the same question. The answers are then used to work out the ‘Net Promoter Score’ (NPS) by subtracting the percentage of ‘detractors’ (those answering 0 to 6) from ‘promoters’ (those saying 9 or 10). Because it’s such a simple and universal measure, it’s possible to make comparisons across different industries and regions.
Scores range from -100 to 100, with the average score for financial services firms being +44. So where do we stand?
The Goodmans NPS is +96.
Yes, that’s really very high. We’re pleased to say it’s around the same as Tesla, and head and shoulders above… pretty much everyone else, anywhere. Thank you, Goodmans clients!
What's a good NPS?
Let’s put things into perspective. The creators of the NPS system, Bain & Company, consider it “good” to have an NPS above zero. That’s any positive number! Above 20 is “favourable”, above 50 is “excellent” and 80 plus is “world class”.
With what sounds like a very low bar, a score of 90 or over is incredibly rare, with very few companies achieving above 75. In 2019, only 10% of UK companies had an NPS over 40.
Here are some of the scores for well-known companies in 2022:
| NPS category | Non-financial companies | Financial services companies |
| “world class” (80 and above) |
Tesla = 97 | Metro Bank = 82 |
| “excellent” (51–79) |
Starbucks = 77 Amazon = 73 Zoom = 72 John Lewis = 68 Netflix = 67 Apple = 61 Google = 58 |
First Direct = 73 PayPal = 65 Lloyds Banking Group = 62 |
| “favourable” (20–50) |
Disney = 50 Samsung = 47 Adidas = 39 Coca-Cola = 39 Mercedes-Benz = 39 AirBnb = 38 DHL = 36 Ebay = 36 Ikea = 32 Marks & Spencer = 29 IBM = 27 |
Nationwide Building Society = 43 Santander = 27 Fidelity = 20 |
| “good” (above zero) |
02 = 13 Vodafone = 10 |
Virgin Money = 19 Barclays = 13 AXA = 12 JP Morgan = 8 HSBC = 7 NatWest Personal Banking = 5 |
| In negative territory | Dominos = -5 Sky = -5 McDonalds = -8 EasyJet = -16 BMW = -21 |
RBS Personal Banking = -18 Aviva = -28 Citibank = -41 |
Source: Customergauge.com/Customerguru.com
What does a high NPS mean?
As a business, we’re rather small compared to the names listed above. Generally, the bigger the number of people surveyed, the more likely you’re going to get detractors, which will come through in the NPS results.
That said, with millions of customers, Tesla still manages to achieve a phenomenal score. It’s not about numbers, it’s about being authentic and providing genuine quality and value for money. Tesla provides an exceptional product, serving a purpose that is both practical and value-driven. Their commitment to improving quality of life is supported by innovation and excellent customer service. Funnily enough, that’s what we do too!
As Financial Planners, we’re in the business of trust. Our clients have given us the responsibility of taking care of their financial security, including savings and benefits they’ve built up over a lifetime. No matter what the scale is – whether it’s one client or 1,000 – we’ll work hard to meet the specific needs and goals of every single one through independent, honest, quality financial planning.
Keeping clients happy
Of course, we’re pleased to have an exceptionally high NPS rating. It reflects something we’re even more proud of – earning client trust and loyalty. We value our connection and longstanding relationships with clients, which often span many years and incorporate different generations within families.
Ultimately, it doesn’t matter how our peers or other businesses are doing. It’s not a competition, and NPS is just a measure, not the reason we focus on making the customer experience as good as it can be. While we appreciate every score of 9 and 10 we get, we’ll also take on board when we get a 7 or 8 (thankfully quite rare), and listen to every bit of feedback. Even if we made it to 100, we’d never rest on our laurels and will never stop striving to do better. Our clients wouldn’t want it any other way.
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