Servo Private Wealth
Servo Private Wealth are independent financial advisors offering specialist advice to business owners and high net worth individuals. Whether their clients are working towards or continuing to empower their financial independence, Servo works closely with its clients to look after their wealth and economic lifestyle.
We have worked with Servo Private Wealth for several years, managing their marketing and design needs. A recent project involved us communicating with their clients to understand their experience with Servo, how they could improve and establishing their Net Promoter Score.
Servo Private Wealth are independent financial advisors offering specialist advice to business owners and high net worth individuals. Whether their clients are working towards or continuing to empower their financial independence, Servo works closely with its clients to look after their wealth and economic lifestyle.
We have worked with Servo Private Wealth for several years, managing their marketing and design needs. A recent project involved us communicating with their clients to understand their experience with Servo, how they could improve and establishing their Net Promoter Score.
A Net Promoter Score, or NPS, is a measure to gauge customer satisfaction, loyalty and overall happiness with a business and its services. This is done by asking questions between a score of 1-10 to understand how a customer truly feels about the company. The key question in particular is, ‘Would they recommend Servo’s services?’. These scores are often a good indicator of the success, profitability and potential growth or lack thereof of a business.
This score allows a company to follow up with positive and negative answers, set company goals and track progress. A good NPS is crucial for a finance business because it reflects high levels of customer trust, loyalty, and satisfaction, which are vital in an industry where trust is paramount.
A strong NPS promotes customer retention, encourages referrals, and enhances the brand's reputation, giving the business a competitive edge. It also helps identify areas for improvement, supports cost-effective growth through cross-selling and upselling, and reduces customer acquisition costs. Moreover, a high NPS mitigates risks related to customer churn and negative publicity while boosting investor confidence and institutional trust.
Servo Private Wealth has a large client base around the UK, so doing these surveys internally was complex, which is why they turned to us. Our Sales team personally conducted these surveys by establishing the questions and contact list. They then called each client to discuss Servo Private Wealth’s performance and listen to their feedback. This was all carefully recorded, as the results would ultimately work out their NPS score.
In total, we spoke to 51 of their clients to find out their opinions on Servo Private Wealth. Collating this data enabled us to create a deck with their scores and present the results back to Servo Private Wealth.
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The Results
Promoters (score 9-10): These are loyal enthusiasts who will keep buying and referring others, fueling growth.
Passives (score 7-8): These are satisfied but unenthusiastic customers vulnerable to competitive offerings.
Detractors (score 0-6): These unhappy customers can damage your brand through negative word-of-mouth.
To establish the NPS, we needed to run the following calculations:
- % Promoters = (Number of Promoters / Total Responses) × 100
- % Detractors = (Number of Detractors / Total Responses) × 100
Then, we subtract the percentage of Detractors from the percentage of Promoters.
The result will range from -100 (if everyone is a Detractor) to 100 (if everyone is a Promoter). Generally, a score above 0 is good, above 20 is great and above 50 is fantastic. Anywhere above 80 is the top percentile.
Our ten questions ranged from ‘How would you rate your overall experience with Servo, so far?’ to ‘How likely are you to recommend Servo to others?’. A wide variety of questions allowed us to identify strengths and weaknesses. In this case, we are very proud of our client for their incredible results, a 92% overall NPS score, which is brilliant. For example, 96% of those interviewed are very likely to or already have recommended Servo Private Wealth to someone. The results speak for themselves. Well done to all at Servo Private Wealth for contributing to this score!
James Mallinson, CEO of Servo Private Wealth, said: “We are extremely happy with our NPS. The information gathered is invaluable and will enable us to take Servo Private Wealth to the next level. Thank you, Creative Pod, for doing these surveys and presenting the results to us. Your help has been incredible, and we gladly recommend Creative Pod to any company that would like to establish its Net Promoter Score.”
If your company is looking to find out more about Net Promoter Scores, what they mean for you and how we can help you find your score, please get in touch - hello@creativepod.net.
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