Question 1

What are the key takeaways from Nilan Peiris's episode on Lenny's Podcast?

Accepted Answer

1. Word of mouth at scale requires giving customers an experience they didn't know was previously possible - incremental improvements drive usage but only 8-10x better drives recommendation and advocacy. 2. NPS is not just a vanity metric - at Wise, moving customers from a 6 to a 9-10 doubled referral rates at each threshold, making NPS improvement the highest-ROI growth investment. 3. You can't split-test your way to love - build conviction about what matters to customers through qualitative insights and data, then make bold bets rather than running endless A/B experiments. 4. Merge the customer list and the business list into one - at Wise, solving hard customer problems like reducing prices and increasing speed directly drove growth and shareholder value. 5. Product marketing within the product is a discipline - the gap between what you deliver and what customers perceive you deliver is a massive untapped growth lever for referral and word of mouth.

Question 2

What does Nilan Peiris say about word-of-mouth and NPS?

Accepted Answer

"But probably the stat I'm most proud of, and the hardest thing to make happen out of all of that was we acquired 70% of the users that found out about Wise last month through word of mouth. So, contextually, we have 16 million customers, and we're acquiring about a million a quarter." - Nilan Peiris "But when we got people from sixes to this seven and eight group, they doubled the number of people they told. Eight to nine, they doubled again, and nine to 10, they doubled again. So, this is pretty crazy when you see it for the first time." - Nilan Peiris "But if you move the NPS from 30% to 50%, you increase the viral coefficient of your customer base. So every customer that goes through tells X many more. When you model this through, the ROI on NPS increases is absolutely huge." - Nilan Peiris

Question 3

What are Nilan Peiris's views on word-of-mouth, NPS, customer-led-growth?

Accepted Answer

Nilan Peiris: "But probably the stat I'm most proud of, and the hardest thing to make happen out of all of that was we acquired 70% of the users that found out about Wise last month through word of mouth. So, contextually, we have 16 million customers, and we're acquiring about a million a quarter." Nilan Peiris: "But when we got people from sixes to this seven and eight group, they doubled the number of people they told. Eight to nine, they doubled again, and nine to 10, they doubled again. So, this is pretty crazy when you see it for the first time."

Nilan Peiris

How to drive word of mouth | Nilan Peiris (CPO of Wise)

TRANSCRIPT

Nilan Peiris

How to drive word of mouth | Nilan Peiris (CPO of Wise)

Nilan Peiris

How to drive word of mouth | Nilan Peiris (CPO of Wise)

TRANSCRIPT

Nilan Peiris

How to drive word of mouth | Nilan Peiris (CPO of Wise)