Net Trust Score
Trust in a company trumps price and ease of use.
Several studies suggest that trust is of increasing importance both in terms of customer behaviour and also in terms of employee retention (in particular with Millennials).
What is Net Trust Score?
For some time, Edelman (2000) and Ipsos have been publishing papers on the “trust index”. This comprises ongoing, broad-based consumer research that asks customers to rank organisations on how much they trust them.
This has been a helpful insight, especially on how well issues concerning environmental and social governance are recognised by stakeholders.
How to use Net Trust Score
Leading CX organisation Zappos has started to use Net Trust Score (NTS). The score is calculated in the same way as NPS/CES with a 10 points scale for respondents, but asks “Does ABC always have my best interests at heart?” whilst also asking the open question “Why did you score this way?” to create actionable insights.
Interestingly, Zappos still use CSat, NPS and CES alongside NTS in their metrics framework, and in their case, it has the highest correlation with future business performance than other metrics.
Zappos say: “NTS has the added benefit of being equally applicable and usable with customers, colleagues and suppliers”. It is unique in this feature amongst customer metrics.
What using Net Trust Score means for businesses?
We’ve seen a significant shift in the equity organisations have with their customers and colleagues (e.g., “the great resignation”), post-covid. Organisations reviewing or starting out on their journey to use customer metrics should consider NTS as a higher bar and one that directly measures a factor right at the heart of relationships with all stakeholders.
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