We’re coming for you Tesla
Sprint Valley’s growth strategy in a nutshell
So I started Sprint Valley in September this year and thought this was a good time to recap our performance so far.
My approach to starting and growing this venture is simple. I want to create a network of people who love what we do so much they introduce us to others they think we could help.
At this stage, we’re using Net Promoter Score as our metric. My, potentially naive, view is that if I can manage our NPS score successfully, it will tell me we’re getting the fundamentals of proposition and delivery right.
Our strategy
In a nutshell, we want to have the world’s highest NPS score. That’s it. It’s daunting, specific and should do us well into the future. Right now, doing that means beating one brand, Tesla (NPS: 97).
What is NPS?
Net Promoter Score (NPS) is a measure of how likely a customer is to recommend you. Developed by Bain & Co and London School of Economics in 2003, higher scores correlate with higher rates of growth. It’s not perfect, but it’s the metric we’re using.
How is it calculated?
Customers are asked “On a scale of 1–10, how likely are you to recommend Sprint Valley to friends or colleagues? 1 being highly unlikely, 10 being highly likely.”
We take the % of people responding with a score of 9 or 10 (Promoters) and subtract the % of people scoring 1 to 6 (Detractors). This gives us a net promoter score. Higher = better.
Our promise to you
I’m going to openly show our results at the end of each quarter. Warts and all. If we’re doing well, great, if we’re slipping in some areas we’ll have even more motivation to explain to you, our clients, how we’re going to move to a new level of delivery.
How did we do in our first quarter?
Since September when we launched, we’ve run some inspiring projects for some remarkable businesses. To detail a few highlights:
- One of the UK’s largest recruiters helping them design a new candidate experience that will touch the lives of hundreds of thousands of people
- We’ve helped a Barclays-backed technology brand prototype new propositions to open new commercial relationships
- We’ve helped one of the most prestigious food suppliers in the UK see their retail environment with a new ‘behavioural economics’ lens that’s lead to a 5% uplift in sales
- We’ve helped one of the UK’s largest food & beverage brands discover new ways to get customers adopting new technologies that they’re experimenting with
- We’ve helped the world’s largest stadium operator apply behavioural economics into their venues to improve customer journeys and drive commercial performance
Scores on the doors….
I’m proud to say that we’re we’ve delivered a great first quarter NPS score of 57. The average score was 9.2/10 across all client engagements over the last 90 days, with zero detractors.
- Promoters: 57% (one 9 all others scored 10/10)
- Neutral: 29% (all scored 8/10)
- Detractors: 0%
We’re delighted with the results. The improvements we need to make to shift our neutral scorers will centre on bringing in smarter calendar management for event delegates to make scheduling workshops for clients a breeze.
We have a little way to go to hit that 97 mark but we’re happy with the starting pace.
Stay tuned for next quarter’s results….
