BBVA makes progress in improving relationships with its customers thanks to the IReNe methodology
Over the last four years, BBVA has implemented a global methodology based on customer recommendations called IReNe (Net Recommendation Index).
IReNe follows the lines of the world-leader methodology Net Promoter Score (NPS), which makes it possible to find out whether the customers are satisfied with BBVA or not. Its method involves asking customers to what extent they would recommend the bank’s products, asking them to rate them from 0 to 10. Customers who give a score of 0 to 6 are classified as detractors, from 7 to 8 as neutral and from 9 to 10 as promoters. The IReNe index is calculated by subtracting the percentage of detractors from the percentage of promoters.
By analyzing the customers’ responses we can find out the reasons the person has for recommending BBVA, their critical experiences and how far we meet their expectations. BBVA is currently the leader in 7 of the 10 countries in which this methodology is used
This methodology is also used internally to assess the services considered critical for the Branch Office Network and which provide a real service to the customer. It is also very useful for generating strategies and structural improvements, as it enables an analysis to be conducted of the activity of other banks and offers the possibility of comparing the loyalty levels of their customers through surveys where the competitors are represented.
The results, which are different in each country, result in improvements for the customer. Among other benefits, IReNe enables us to find out why a customer has changed, for example, from detractor to promoter and helps BBVA take measures to win the loyalty of its customers. By focusing on what needs to be done to improve the relationship, the bank can take actions that are different in each country depending on the customer’s needs.
Thanks to this methodology, in 2015 Spain implemented the Calidad en Red Banco 10 program and launched the BBVA.es digital feedback for relevant servicing processes, contracts and new features. In Mexico, Peru and Colombia the bank has implemented the customer feedback methodology in the commercial network through daily online surveys, which an assessment of their most recent experience with BBVA in less than 48 hours. One of the greatest benefits of IReNe is that in most countries it has enabled complaints management to be improved. This milestone is an exceptional starting point for the bank in terms of enhancing the processes, thanks to its accuracy when identifying the improvements that can make life easier for the customers.