2023 Net Promoter Score

Summary

Catalyst Corporate's 2023 NPS Score Stays Strong

Read the Survey Comments

Catalyst Corporate conducted its annual member satisfaction survey in May, receiving a Net Promoter Score (NPS) of 84.5, slightly below its 2022 NPS of 86.8. Bain & Company, creator of the NPS survey, suggests that a score over 50 is "excellent" and over 80 is considered "world class." The survey was emailed to senior executives at 1,049 credit unions, with 219 capitalized credit union contacts responding, for an 21 percent response rate.

In this survey, 85 percent of respondents were categorized as Promoters of Catalyst Corporate, while less than one percent were Detractors (see definitions of Promoter and Detractor, as well as how NPS is calculated, below). 

Commentary

Perceptions of Catalyst Corporate

Respondents were asked three additional questions using a scale of 1-10, with 1 representing “strongly disagree” and 10 representing “strongly agree." One question asked participants to rate Catalyst Corporate on financial soundness. A majority of respondents shared they find Catalyst Corporate to be financially sound. The average score was 9.5/10.

Another key relationship measure was gauged by the statement, “Catalyst Corporate delivers on promises and instills trust.” The average score received was 9.4/10.

Respondents also were asked to rate the importance of their relationship with Catalyst Corporate. The average score received was 9.4/10.

Catalyst Corporate Attributes

How NPS Is Calculated

The survey used the widely-accepted NPS as its primary loyalty measurement, gathering responses to the question, “How likely is it that you would recommend Catalyst Corporate to a peer?” Survey recipients responded on a 0-10 point scale. Using the NPS structure, responses were categorized as follows:

• Promoters (9-10 scores) are loyal enthusiasts who will keep buying and referring others, fueling growth.
• Passives (7-8 scores) are satisfied, but unenthusiastic customers who are vulnerable to competitive offerings.
• Detractors (0-6 scores) are unhappy customers who can damage your brand and impede growth through negative word-of-mouth.

NPS is calculated by subtracting the percentage of Detractors (0-6) from the percentage of Promoters (9-10). The chart below diagrams the scoring process.

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