Every year we send out a survey to all of our clients and their collaborators. We typically distribute our surveys in the fourth quarter and publish results in January/February of the following year. Our goal is to understand how we have performed against the expectations we set as a brand. Some of the key performance indicators we look at are:
· The Trak IMPACT on leadership and frontline operations
· The Trak IMPACT on their overall business
NET PROMOTER SCORE (NPS)
NPS is how we have tracked our clients’ overall satisfaction since 2016. For those who are unfamiliar with NPS, it is a customer loyalty and satisfaction measurement taken from asking customers how likely they are to recommend a product or service to others on a scale of 0-10—but there’s a lot more to the story than that. As a business metric, NPS helps companies of all sizes organize around a mission-critical goal—increase their score by earning more enthusiastic customers—that can be easily tracked and quantified over time. NPS can be used as a predictor of business growth. When your company’s NPS is high (or, at least, higher than the industry average), you know that you have a healthy relationship with customers.
Over the years, Trak’s NPS has been DOUBLE the national average for the SaaS and Apps Industry. In 2022, Trak outscored major recognized brands like American Express, Apple, BMW, Google, Netflix and Starbucks.
Key Learning: We have set a very high standard for ourselves over these last six years. While we are certainly “Best in Class” when it comes to SaaS and Apps, we know that as we continue to gain new clients across and beyond the Sports & Entertainment Industry that we have to continue to push ourselves to maintain the standards we have set for ourselves. It all starts with actively seeking out, listening for and applying feedback, building, optimizing and training the product to better serve our customers and their dynamic needs.
TIME SAVINGS AVERAGE
We realize that time savings is one of the key reasons our clients buy a Trak Software license for their business. Every year we ask our clients how Trak helps them save on Partnership Portfolio Management duties like specs and deadlines, searching for information, saving and cataloging media, shuffling and updating partnership trackers, building and communicating recaps and all other duties. Amazingly 96.9% of our clients recognize some form of time savings through the use of Trak Software. Our clients in 2022, 53% of them realized time savings in excess of 50%. Almost one in five clients achieved Time Savings of 80% or more.
Key Learning: As companies find it harder and harder to keep and retain talent, Trak can be a great solution for organizations while creating fewer headaches for employees. We make it easier for companies to manage their portfolio and these new found efficiencies can make a huge impact on company productivity.
MONTHLY USAGE RATES
NOTHING can be more frustrating to an organization than purchasing software for their business only to see it go largely unused. 97.2% of Trak Software license holders used it Monthly or more. This a great testimony for how quickly Trak can be integrated into the “everyday life” of Partnership Management workers.
Key Learning: Trak Software is a great value for our clients. What other software outside of Microsoft Office or email does your organization use at least monthly? Trak as a group works hard to keep its clients engaged in the system and updated on the latest developments.
IMPACT ON YOUR ROLE/ORGANIZATION
We realize that it is one thing to have a software program that everyone uses, it is very much another thing to have a discernible impact on productivity. Every year we ask our clients how impactful do you think Trak is your job’s role and responsibilities (on a scale of 1-10). Our clients in 2022 scored Trak Software an 8.8 in all three categories (Day to Day, Leadership, Overall). It is incredible knowing that our software really is there for our clients every day and at every level of the organizations we serve.
Key Learning: Trak Software can change the productivity level at every level of an organization and finds a way to ingrain itself into the fabrication of the organization. You have to wonder how it impacts the experience those organizations’ clients are having in working with a company that is so productive.
IMPACT ON OVERALL BUSINESS
Every year Trak asks its users about how we are able impact their overall business by measuring out the Value delivered to clients and ability to Improve Decision Making around sponsor renewal. In 2021, 78.8% of our clients realized a significant increase in their ability to deliver more value to their partners. Over 88% indicated the ability to make better partnership renewal decisions thanks to utilizing Trak Software.
Key Learning: Trak Software is tremendous at bringing together all of the data surrounding marketing partnerships. For rights holders and agencies, it makes it easier to demonstrate the value that was derived from the partnership. For brands, you can see where you had success and how you performed vs your plan.
The first thing we wanted to understand was overall satisfaction from our users. A good indicator for measuring it is a scoring system called a Net Promoter Score or NPS. (Learn more about it from the Harvard Business Review)
An NPS Score allows you to benchmark yourself year over year as well as benchmark yourself against other companies. Some in the same industry and some overall.
Would your recommend to a Colleague or a friend?
We are ecstatic to, once again, be in the top 5% of global companies that achieve a score over 70.
We performed extremely well for our category of SaaS & Apps
We actually performed below our score of last year. We attribute that to almost doubling our user base in 2021 and having more customers to please!