NPS – the TLA (three letter acronym) that may be the deciding factor on which video management platform you choose.
MAM DAM VOD OVP FPS OTT API CDN LTO. As if our industry didn’t have enough TLAs (Three Letter Acronyms) already, here’s one more to consider when you’re choosing a video management solution.
If you’re approaching video management from a business and enterprise background, you may already be aware of how important an NPS score is. If you’re coming at this from a media or sports background, you may be less aware of the term. NPS stands for Net Promoter Score. Put simply, that score is the prime indicator of customer satisfaction; a measure of how likely people are to recommend your product or service to other people. It is regarded as one of the simplest indicators of customer loyalty — a metric that sheds light on most, if not all aspects of the customer buying process, their perception of a company, their products and the ongoing support they provide.
The score is calculated based on the response to a single question:
How likely is it that you would recommend our company/product/service to a friend or colleague?
Customers answer this question on a scale of 1 to 10
10 being “extremely likely” and 0 being “not at all likely”.
Based on the score submitted, customers are then categorized as Promoters, Passives or Detractors.
Promoters (score 9-10) are loyal, enthusiastic, and are likely to refer your product or service to others.
Passives (score 7-8) are satisfied enough but are less evangelistic.
Detractors (score 0-6) need to offload some negative feedback and would like to see improvements.
Calculating the final score is simple — the net promoter score is the percentage of promoters minus the percentage of detractors.
NPS Scores vary from industry to industry, but for B2B Technology and SaaS the average is benchmarked at 30 and a score above 50 is normally considered excellent. *
Our latest NPS (Customer Satisfaction) survey recorded a score of 72. Naturally, as a company we’re absolutely thrilled with the score and we’d like to thank our customers for taking part in the survey.
Realising such a high NPS score hasn’t happened by accident or overnight. Over the last three years, creating an exceptional customer experience has been one of our strategic priorities. We’ve worked hard to put ourselves in the shoes of our customers to see where we think we can make a difference to them and their business. Some of the initiatives and steps we’ve taken to improve our customer experience are:
1. User forums and networking events
We love to welcome our clients to user forums and informal networking events like our annual Tech Summit. It’s a great opportunity to hear honest feedback (good and bad) and suggestions for new product features from our varied client base.
2. Dedicated account managers
For such a high-tech product, we still believe that success starts with human relationships. Every customer is assigned an account manager who will check in frequently to ensure all is running smoothly. Account managers represent customers when reporting back to the wider business here at Imagen – they ensure that bugs are fixed, support levels maintained, and customers stay happy.
3. Product Roadmap
Changes in consumer behaviour, technical standards and infrastructure can seriously impact the business goals of media companies if they stand still too long. Imagen is a constantly evolving media management platform with a well-established Product Roadmap. We share our short, medium- and long-term development goals with clients so they can see for themselves which features will help them work more efficiently, unlock more value and adapt to changes in the media landscape.
4. Round the clock customer support
With customers including Ministry of Defence, Premier League, BBC Studios, IMG, BP and Press Association it’s essential that mission critical media management systems run efficiently 24/7. Our Prometheus operations monitoring system provides our client services team with up to the minute health checks and diagnostics on every Imagen system so they can provide first class support to a global customer base.
5. Regular product updates
Imagen system owners are first to find out about our latest features with regular Product Updates. Our Feature Focus series looks at specific product areas in more detail so our clients can enjoy the greatest utility from their platform.
And there’s more to come….
Why NPS may be the most important factor when choosing a video management solution
DAM, MAM PAM, OVP, EVP, whatever you want to call it – we understand that choosing an enterprise grade video management platform is a significant investment for any company. It’s not surprising that the process can involve lengthy RFPs or involve consultants.
Once the boxes have been ticked on features and technical requirements have been met, we believe that the long-term success of a digital asset management system relies on the quality of the client-supplier relationship. A customer-centric approach that includes transparency, honest communication, regular updates, fast response times and the ability to listen – even when it’s not good news.
From the earliest adopters to our latest sign ups, we recognise that our clients have been hugely influential in shaping Imagen into the award-winning video management platform it is today. We’re incredibly grateful for their ongoing support, encouragement and suggestions for new features. All of this helps us in our quest to be the smartest video management platform in the world
More important to us than awards though is customer satisfaction. That’s why we’re well chuffed with our latest NPS score of 72 (May 2020). We’ve set the bar very high for the future – but then again, we never aim low.