Renew Financial Surges to a 76 Net Promoter Score Amid Pandemic
OAKLAND, Calif., Sept. 1, 2020 /PRNewswire/ -- Renew Financial, the most experienced provider in the nation of the residential Property Assessed Clean Energy (PACE) financing program, today announced that it has once again achieved a high Net Promoter Score (NPS) after surveying its customer base. This year, Renew Financial earned a score of 76, exceeding the scores of beloved consumer brands like Vanguard and Nordstrom and marking the highest ranking in the company's history of tracking this metric. The landmark score confirms the company's success providing a superior experience to help homeowners access PACE financing for essential home upgrades and solar power.
NPS measures the loyalty and perceived quality of service that exists between a provider and a business on a 200 point scale that ranges from -100 to +100, with scores over 50 being considered "best in class." A high NPS is often associated with strong and valued relationships that drive improvements such as higher customer retention rates and loyalty. According to industry data, the average NPS score for banking and financial services is 34 -- which Renew Financial exceeded by over 40 points.
"The data confirms what we've been hearing for years: homeowners love Renew Financial's PACE product!" said Mark Floyd, CEO of Renew Financial. "It's astonishing to think that a home upgrade financing solution can inspire passion that beats out the most loved brands in the country, but I'm not surprised given the amount of energy and care our team invests in creating a phenomenal experience for customers. I'm heartened to see that we're helping people get through the pandemic by not only providing access to the financing they need to make their homes safer, healthier and more comfortable, but also by treating them well along the way."
"The project I needed was a new roof. I've woken up several times with water coming through the roof - giving me sleepless nights and anxiety. I'm a disabled veteran and I live on my military and VA pension and social security. When you have a fixed income, fixing a roof isn't something you can quite budget for and you're worried about how you're going to pay for a new roof and it's very stressful," said Stephen Zech, a retired veteran living in Palm Beach County. "I had been shopping around for ways to finance the roof and came across Renew Financial and it was just an amazing experience. Renew thoroughly explained how the whole process of payments would work and the options, once I was approved they were on the job and the project got finished. It was like a ton of weight lifted off of me."
Renew Financial regularly measures its PACE financing NPS by surveying customers and contractors to understand how likely they are to recommend the company, how they would rank their experience with Renew Financial and what we can do to improve the experience for future customers. This ranking marks the 5th consecutive year that Renew Financial has maintained a score above 60, reflecting the company's sustained effort to provide a positive, respectful and beneficial experience to homeowners in California and Florida.
About Renew Financial
Renew Financial Group LLC (Renew Financial) is one of the nation's leading providers of financing for sustainable building improvement projects with a bold vision to create financial access to a safe, healthy and sustainable world. Renew Financial administers Property Assessed Clean Energy (PACE) programs operating in California and Florida to strengthen communities by making homes and businesses safer, more energy-efficient and more valuable. Renew Financial has funded more than $1.1B in PACE projects that have led to greenhouse gas reductions (GHGs) equivalent to removing over 280,000 cars from the road. Renew Financial is a trademark of Renew Financial Holdings, Inc. Additional information may be found at renewfinancial.com