Today Alignable released results from its Q2 2016 SMB Trust Index. Using net promoter scores (NPS) among small and medium-sized business (SMBs) vendors as a substitute for trust, the index includes data on 37 brands and is comprised of over 9,000 ratings from North American SMBs.
Brands needed at least 25 ratings to be included in the results, but scores are only shown for brands with 50 ratings or more. Brands with less than 50 ratings are positioned where their score is currently trending.
What was interesting this quarter was the chart that broke the data down based on business category (above). According to the data, payments, email marketing and digital marketing vendors made up the top three categories, while loyalty/rewards, communication services and lending were the bottom three.
Based on comments from SMBs, overall, the vendors provided a level of speed and efficiency that was appreciated by these businesses. However it was in relation to “trust, quality and experience” where the comments started to be more variable from vendor to vendor.
The top rated category of payments included scores on Authorize.net, Square, PayPal and American Express. Square, among the top six overall, was applauded by one business owner for its ability to make “credit card processing for the little guy a possibility.” Payment technology has solved a major need for these businesses and it is no surprise to see these vendors so highly ranked.
Driven by the high ranking of Mailchimp (number two overall), the email marketing category received high marks as well. Email remains a powerful and primary marketing medium for businesses of all sizes and these providers have helped SMBs get in the game with relatively low costs or free in the case of Mailchimp’s “freemium” model.
Digital marketing ranked third as a category and was made up of Google, Instagram, Twitter, LinkedIn, Pinterest, Facebook and Yelp. Outside of Google and Yelp, the category was largely made up of social media outlets. This is a testament to the prominence of social media in SMB marketing strategies.
Google topped the list of digital marketing vendors and was third of all vendors. Yelp was the lowest rated in the category, was the only digital marketing vendor with a negative score and was the lowest rated overall. Much of the complaints with Yelp remain related to the company’s algorithm for publishing reviews, customer service and its perceived sales techniques.
Without Yelp’s negative score included in the average, the digital marketing category would be just one point behind payments at 38 as a category. Such high marks for digital marketing is positive to see considering the industry’s challenge of SMB churn and unclear ROI as it relates to digital.
Alignable closed the results with a discussion on the importance of education. No matter the category, Alignable argued that “real examples of what to do and what not to do” were critical in delivering a strong customer experience with vendors and would result in a higher NPS.
