Volato Releases World-Class Net Promoter Score as Commitment to Continuous Improvement
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Insights
Volato Group's announcement of an NPS score of 88 is a significant indicator of customer satisfaction and loyalty in the competitive private aviation industry. An NPS score, which can range from -100 to 100, provides a snapshot of how likely customers are to recommend a company's services. The score of 88 is notably high, suggesting that Volato's focus on customer-designed service is resonating with its clientele.
From a market research perspective, this high NPS score could potentially translate into stronger customer retention rates and organic growth through word-of-mouth referrals. This is particularly important in luxury service industries like private aviation, where customer experience is paramount. The positive feedback loop created by satisfied customers can lead to a sustainable competitive advantage and possibly justify premium pricing strategies.
Furthermore, the company's investment in next-generation Wi-Fi technology and the development of a mobile app based on customer feedback are strategic moves that can enhance the overall service offering. These initiatives could improve operational efficiency and customer engagement, which are critical factors in driving both top-line growth and bottom-line performance.
Volato's high NPS score is a qualitative metric that investors may view favorably, as it indicates a strong customer base. In the context of the stock market, a company that consistently demonstrates the ability to exceed customer expectations could be seen as having a robust business model with potential for long-term revenue growth.
However, it is also important to consider the cost implications of maintaining such high levels of customer satisfaction. The adoption of SmartSky's connectivity solutions and the development of a bespoke mobile app likely required significant investment. Investors should consider the return on these investments in terms of enhanced customer loyalty and the potential for increased flight hours and sales.
Additionally, the company's focus on continuously monitoring its NPS score and customer feedback can be seen as a commitment to operational excellence. This ongoing attention to customer experience may contribute to a positive perception among investors, who often look for companies with a proactive approach to market demands and customer needs.
Volato’s annual NPS score of 88 and feedback informs customer-designed solutions for the company
"Volato's NPS score reflects our commitment to delivering exceptional customer experiences on every flight and fostering greater transparency across the industry," said Brandon McIntosh, Volato's Vice President of Client Experience. “Our skilled pilots and seasoned concierge team play a vital role in delivering these experiences. Their professionalism and positive approach significantly enhance customer satisfaction. Our NPS score is encouraging as a general benchmark of our customer experience, and we see it as a springboard for continuous improvement. We remain committed to leveraging customer feedback to keep raising the bar and exceeding expectations.”
Generally, an NPS score above 50 is considered excellent, while any score above 80 is considered world-class. The NPS is a widely recognized measure of customer loyalty and satisfaction, with scores ranging from -100 to 100. A high NPS score signifies customer satisfaction with the company's services, with promoters more inclined to refer new clients, incur lower service costs, and stay with the company for longer periods of time.
In line with its commitment to acting on customer feedback, Volato recently selected SmartSky, an innovative air-to-ground inflight connectivity provider, to equip its HondaJet fleet with next-generation Wi-Fi, enhancing the passenger experience for over 20 new aircraft. Volato also recently launched a mobile app which delivers a seamless and personalized experience to its customer base, built based on extensive customer feedback and testing.
As Volato expands its private jet fleet in 2024 and beyond, the company will continue its rigorous focus on maintaining and monitoring its NPS score and feedback as a mechanism to retain and attract customers. Volato tracks its NPS score on a monthly basis and also releases quarterly results as a part of its operational KPI disclosures.
For more information on Volato’s approach to customer-designed service, visit: www.flyvolato.com
About Volato:
Volato (NYSE American: SOAR) is a leader in private aviation, redefining luxury air travel through modern, efficient, and customer-designed solutions. Volato provides a fresh approach to fractional ownership, aircraft management, jet card, deposit and charter programs, all powered by advanced, proprietary mission control technology. Volato's fractional programs uniquely offer flexible hours and a revenue share for owners across the world’s largest fleet of HondaJets, which are optimized for missions of up to four passengers. For more information visit www.flyvolato.com.
All Volato Part 135 charter flights are operated by its DOT/FAA-authorized air carrier subsidiary (G C Aviation, Inc. d/b/a Volato) or by an approved vendor air carrier.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240410751272/en/
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Source: Volato Group, Inc.
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