Product Management: First Month, First Insights

Rose Murphy
Product Manager, Deep-Insight

I’m delighted to start my new role as Product Manager. It’s an exciting challenge for me and for Deep-Insight. But where do I start? What do I do first?

Having spent ten years working my way up to Operations Director in Deep-Insight, I know our products and services like the back of my hand. I’d like to think I have a good grasp of the enhancements required to improve the reports and results we provide to our customers. But how can I be sure?

Here’s the single biggest thing I learned in the last few weeks since starting this role.

What I knew within operations, I really knew. What I know now, I only think I know.

I need to gather a lot of information and knowledge in the next few months. It’s easy to feel overwhelmed by this.

Here’s the plan; I am going to deal with the ‘known unknowns’ one day at a time.

There are a lot of unknowns at the start of this process, but I have decided that there are only two that really matter.

1. What do our customers really want need?
2. What is the correct product roadmap for the next couple of years based on this?

I thought I knew the answer to number 1 above. I did with the word ‘want’. I have been listening for years to client feedback on our products.

But do I really know what happens within our client’s organisations once we deliver the results? Do I know what they really need?

We spend a lot of time with the management teams responsible, as a result of our findings, for creating action plans and driving change throughout their organisation.

But what about the team on the ground responsible for working with the reports on a daily basis?
– Do we really know everything that happens with our reports and results once our clients receive them?
– Have we ever truly observed how the account management teams use our reports and findings to help them manage their accounts?
– Have we ever assessed if our clients are making full use of every piece of information in every document we send to them?

To answer the question at the beginning of this blog, that is what I am doing first.

I will visit every client that will have me and meet as many people as possible within their organisation. I am going to ask many questions but I am also going to stop asking questions and simply watch.

I believe that it is this process of watching how our products are being used that will bring me much closer to understanding what our customers really need us to do. I will consider this information to be the single most important factor when deciding on our product roadmap at the start of next year.

That’s better. Now I have a plan. I’ll keep you updated.

What is a ‘Good’ Employee Net Promoter Score?

What is a ‘Good’ Employee Net Promoter Score?

Last year, I wrote a blog post entitled What is a ‘Good’ B2B Net Promoter Score? which turned out to be surprisingly popular. I’m guessing that was because there’s a lot of nonsense posted on the Internet about companies achieving NPS (net promoter score) results of +62 or even +78, or about people being hugely disappointed because they only achieved a score of +25.

Meanwhile, some of our own clients at Deep-Insight clients would get upset when I told them their NPS was only marginally positive or – even worse – negative. The two simple messages in that blog post were:

“Be careful about how you interpret NPS figures” and
“A Net Promoter Score of approximately +10 is the average for European B2B firms.”
 

eNPS versus NPS

In that blog, I was discussing NPS as a measure of customer advocacy. More and more, it is also becoming the de facto standard for measuring employee advocacy and employee engagement. So this blog will address the question: “What is a ‘Good’ Employee Net Promoter Score?”

Before I let you know what that magic number is, it’s worth digressing slightly to explain the basics of how NPS is calculated. If you’re already a net promoter aficionado, skip the box below.
 

HOW IS THE NET PROMOTER SCORE CALCULATED?

For the uninitiated, a company’s Employee Net Promoter Score (eNPS) is based on the answers its employees give to a single question: “On a scale of 0 to 10, how likely are you to recommend Company X to a friend or colleague?” Employees who score 9 or 10 are called ‘Promoters’. Those who score 7 or 8 are ‘Passives’ while any employee who gives a score of 6 or below is a ‘Detractor’. The actual eNPS calculation is:

Net Promoter Score = % of Promoters minus % of Detractors

Theoretically, companies can have a Net Promoter Score ranging from -100% to +100%.

 

So think about it. The only Promoters you have in your company are those employees who are prepared to give you a score of 9 or 10 out of 10. In the average American company (remember that the whole Net Promoter concept originated in the USA) that makes sense. Americans tend to score very positively when they are satisfied, so having a high cut-off point is appropriate. However, if you’ve grown up and live and work in a European country, you approach the Net Promoter question from a different cultural perspective.
 

It’s a Cultural Thing

Many – nay, most – Europeans regard 8/10 as a very good score. Some will argue that 9s or 10s are only handed out in exceptional circumstances. This is culturally ingrained into us Europeans through our schooling system and particularly through our university grading system.

Making the Grade
 

In European universities, a First Class Honours degree requires a score of 70% (7 out of 10). Scores of 75% are remarkable, while scores of 80% (8 out of 10) and higher are almost unheard of. These cultural differences have to be taken into account when interpreting whether a particular Employee Net Promoter Score is ‘good’ or ‘bad’.
 

The Magic Number

So what is a ‘Good’ Employee Net Promoter Score? We have been measuring NPS and eNPS since 2006. We do this mainly for European and Australian companies. The average Employee Net Promoter Score across all of our clients during that time has been a paltry -10. Yes, that really is a negative sign before the 10.

MINUS TEN!

Put it another way: achieving a positive Employee Net Promoter Score is a solid achievement for most European firms. Rarely do we see eNPS results in excess of +20.

So there you have it. If your company has just received a negative eNPS in the latest employee survey, don’t feel too bad. You’re in good company!
 

To find out more about Deep-Insight’s employee assessments, click here.
 

Does NPS Work for B2B Companies
 
 

* Net Promoter® and NPS® are registered trademarks and Net Promoter SystemSM and Net Promoter ScoreSM are trademarks of Bain & Company, Satmetrix Systems and Fred Reichheld