Unsatisfied customers can be extremely costly to your business. According to a recent study up to 80% of customers would be prepared to switch companies after a poor service experience. So, it makes good business sense to keep them happy.
With today’s more crowded and competitive markets Customer Experience (CX) has never been more important. In fact, according to in-depth studies from research consultants such as Walker, by as early as next year CX will overtake price and product as the key brand differentiator. So, it should come as no surprise to hear that growing numbers of companies are creating and developing customer experience (CX) strategies to grow their brand.
If you’ve been reading our other blog posts on the subject of Net Promoter Scores, then by now you should be feeling pretty confident about using it as a metric. However, one question that comes up a lot, because it’s the hardest to answer, is “What is a good NPS anyway?”. There are a few reasons why this is can be a deceptive complex question, so we’ll look at each of them, and detail some of the options available for dealing with this.
The only way to measure your Net Promoter Score is to collect data from your customers. After making the decision to pursue NPS tracking as a part of your customer satisfaction strategy then you need to make a decision. You need to decide on the best way to engage your customers so that you can get their responses.
What is Net Promoter Score? Net Promoter Score® is a standardised metric that businesses and other organisations use to measure customer satisfaction. It’s based on the idea that the key indicator of satisfaction with a product or service is whether a customer will recommend that a friend, family member, or colleague use or purchase it.
Last year we rolled out an update to SmartSurvey to add the functionality to quickly create surveys using the Net Promoter Score survey question. We thought it might be a good time to revisit the benefits of NPS as there is a consensus of opinion that it is a leading indicator of growth, making it a valuable asset to your company! By calculating your customer’s NPS® score, you can learn what they think, how willing they are to recommend your services to others and to generally get a better...