Jag Duggal: preference

Transcript context

…Can you describe the actual score and the approach? Yeah, the Sean Ellis score is a really simple methodology used by lots and lots of companies that a gentleman named Sean Ellis popularized well over a decade ago. Which basically asks your customers at each stage, and at each stage you have a small number of customers, then a larger group, and growing over time. But at each stage you ask them, how disappointed would you be if this product went away? And what Sean has said is that if at least 40% of your customers are not very disappointed, not just a little disappointed, but very disappointed, he has essentially a three point scale. Not disappointed, somewhat disappointed, very disappointed. If at least 40% are not very disappointed, you haven't reached product market fit. Now we've had to do some things in NewBank, Brazilians are a culturally happier group than the global average. So for us, our threshold isn't 40%, we've generally moved it up to 50%. I don't believe we have product market fit unless 50% of Brazilians are telling us they would be very disappointed, because Brazilians are inherently polite. And more polite and more optimistic than average, so we make our own little tweaks and adjustments. But we find that to be very helpful. As a company, this extends beyond product, we are addicted to our NPS score. And we reach for world beating net promoter scores as a company, and product vertical by product vertical as well. And we are maniacal about tracking how we do. And again, we compensate for some cultural biases, and we make sure that we hold ourselves to a high bar. But there have been, for example, in Mexico, we've recorded an NPS when we launched the first couple of years of 94-95. That's absurd. I've never heard of that.…

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