Building customer trust in strata has become a key focus following on from an ABC Four Corners investigative report into the strata industry revealed questionable business practices by several organisations.
One of the most reliable third-party benchmarks for the industry and individual strata management organisatons is from StrataMax™. The latest industry NPS® scores reveal a significantly widening gap between the top professional firms and many others.
At McCormacks, our NPS® scores have always been head and shoulders above the national and Sydney average.
We expect to see more strata owners initiating reviews and potentially making some changes to their management as a result.
Why integrity and accountability matter more than ever
The spotlight has been firmly on ethics and integrity in the strata management industry.
As the complexity of managing apartments, townhouses, and community schemes grows, so too does the responsibility to deliver transparent and accountable service to owners and residents alike. And in Sydney, where property ownership and investments are significant, the expectation for transparency and accountability in strata services is at an all-time high.
As scrutiny on the industry continues to intensify, trust has emerged as the currency of long-term success for strata management companies, starting with a renewed commitment to exceptional customer experience.
The role of customer experience and the Net Promoter Score – NPS®
Customer experience is at the heart of strata management ethics and is the foundation upon which trust is either built or broken.
A leading indicator of trust and satisfaction in brands is the Qualtrics Net Promoter Score® survey, or NPS® – a measure that gauges customer loyalty and the likelihood of recommending a service to others. In short, it measures customer satisfaction.
Companies in a wide range of industries view this score as a comparative indicator of their own customers’ satisfaction and recommendation amongst their competitors. In the strata industry, the NPS® data is compiled by independent StrataMax™.
McCormacks Strata Management has in the past year set a new industry-leading score of plus 44, and a new company benchmark. This reflects our commitment to customer-first service, trust and integrity.
While we are proud to see our customer partners rating our service so highly, the survey also provided a clear picture of the industry’s performance, revealing an overall need for improvement.
The results showed the average Sydney strata management company rated an NPS® of negative 27, indicating a level of dissatisfaction that reflects poorly on the local industry. Nationally, the average score fared slightly better at negative 10, yet it still reflects a sentiment of frustration and a need for change.
The McCormacks Difference: industry leading customer service, integrity and transparency
At McCormacks, our past NPS® scores underscore The McCormacks Difference: our commitment to customer service that is far above and beyond other Sydney strata management companies. Our clients have consistently rated us well ahead of our competitive set year-on-year.
And we don’t take this benchmark-setting score for granted. In fact, it makes us work harder with, and for our clients.
This helps us to quantify how our professional business standards, full transparency, and tailored and focused service delivered through smaller portfolios – delivers long term retained clients.
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