Customer Experience Driving Success at Busey

Customer loyalty and satisfaction are crucial components of success for all business sectors. In the financial services and banking industries, where competition, regulation and commoditization of products and services level the playing field, most often customers are attracted to companies that value them and offer a superior experience.

But how do companies measure their success in offering an industry leading customer experience? This is where Net Promoter Score (NPS®) comes into play.

NPS® is a customer experience metric and the global standard used across industries and organizations to gauge customers’ satisfaction and loyalty. The score is based on customers’ indication of how likely they are to recommend the company’s products or services to others, typically on a scale from 0 to 10. Final overall scores for the company range from -100 to 100.

A high NPS® indicates stronger customer relationships, more referrals and oftentimes greater growth. Using NPS® feedback, companies can get to the heart of why customers would or wouldn’t recommend their organization to others and can use that information to make improvements to current operations or guide decision-making on new products and services.

For Busey Bank, a regional bank headquartered in Champaign, IL, NPS® scores are monitored closely, and adjustments are implemented regularly to drive improvement.

“The scores are a direct reflection of the outstanding service provided by associates across our organization,” said Van Dukeman, Busey Chairman and CEO. “Personalized service, proactive communication and quick response times ensure customers feel supported and valued and help us create deeper and more meaningful relationships that last. That’s what we strive for in every interaction we have.”

When it comes to customer loyalty and satisfaction, there was plenty for Busey to be proud of over the past year. The organization set a new record-high corporate NPS® of 56.5 in 2023, a 14.4-point improvement from the previous year and well above the industry average of 23.5. Bolstering the corporate score, Busey Wealth Management also recorded an all-time high score of 79.8, 10.9 points higher than in 2022 and also well above the industry average of 24.9. Additionally, for the first time Busey’s Corporate and Wealth Management NPS® results outperformed some of the largest banks and investment firms in the country, per Forrester’s 2023 US Net Promoter Rankings report.

Overall, nearly all Busey business segments saw significant improvement in NPS® year-over year in 2023 with record-strong performance from nearly all regions in the company’s four-state footprint.