MEDIA RELEASE: 6 January 2021: MESH Experience won two golds at the International Business Excellence Awards. The golds were awarded in the categories for Customer Experience and Strategy/Change and Transformation.
The International Business Excellence Awards recognise long-term sustainable profitability and best practice in customer experience (CX). The categories cover a broad range of disciplines that define the modern business agenda. Submissions need to demonstrate the connection between improved customer experience and overall business performance, with a focus on hard evidence of innovation, impact and scalability.
MESH Experience worked with LATAM Airlines Group to develop a radical initiative to monetize NPS, which helped strengthen LATAM’s focus on customer experience.
The Monetizing NPS initiative provided a framework to link CX initiatives to NPS to economic return and a tool to help prioritise/justify which CX initiatives to undertake.
A single overall link between NPS and revenue is too simplistic. Many organisations measure NPS but have not shown an explicit link to economic return. By looking at different customer segments, the team were able to reflect different monetary values and derive economic return.
The initiative looked at CX in conjunction with multiple dynamics in the decision-making of airline customers. The minimum service level for a budget airline will be different to that of a premium airline where customers expect more. If one airline is raising service quality, then customers will expect similar brands to match this.
Andre D’Abreu, Head of Customer Intelligence and Strategy at LATAM Airlines said “We’re excited to have won these awards. It’s a real opportunity to showcase the business impact of our CX investments. We operate in a complex, volatile market and decision making is time-consuming. By monetizing NPS, we have been able to justify investments in CX and undertaken cabin renewal, premium economy improvements and a segmented service.”
Fiona Blades commented that “I’m thrilled that the Monetizing NPS initiative has been recognized in these awards. It was a complex project and done in record time. What is especially rewarding is to see the positive customer feedback coming through as a result of the CX investments LATAM Airlines Group has made. It’s also important to our industry to enter and win awards where market research has made a business difference.”
Website: MESH Experience