In the last five years, the Net Promoter Score (NPS) has become the standard by which businesses measure customer satisfaction as it relates to both customer retention and customer loyalty.
Both enterprise-level and entrepreneurial initiatives have fully embraced the value provided by one of the simplest but most effective methodologies currently available to those willing to be proactive in the optimization of customer experiences.
Net Promoter Score users capture customer feedback with the goal of sustainable business growth and reduced expenses. Experts in marketing methodologies praise the Net Promoter Score but warn businesses that the results are only as good as the level of commitment of the business organization toward making changes that matter.
Among the many resources available to ReviewTrackers users is an easy-to-use Feedback Request tool that equips you to send early-capture blanket surveys to all your customers and measure your Net Promoter Score.
By capturing NPS, you’ll have a better understanding of the overall health of your business organization. You’ll also be equipped to identify your happiest customers and effectively generate more online reviews.
Let’s take a look at 7 ways NPS can help you grow and manage your online reputation.
Net Promoter Score gives you the big picture
One of the most noticeable weaknesses of review analysis for the sake of business intelligence relates to sample size and motivation.
The customers that opt to leave consumer reviews in third-party websites such as Yelp, Insider Pages, Facebook, and others are often either highly satisfied (promoter) or very disappointed (detractors).
Those in the middle are the silent majority, and also the most valuable when it comes to salvaging a lead for the sake of reduced churn rate. The simplicity of Net Promoter Score allows your business to ask one simple question posed to a universal pool of customers, often securing a high-response rate.
With a high-response rate, you are able to measure the sentiment of those in the middle and do something about it. A bigger, better picture of where your business stands, in terms of how customers perceive it, is a tremendous asset when it comes to the planning and execution of your marketing and operational strategy. It is well known that those customers in the middle (passives) are the most vulnerable in terms of likelihood of choosing an alternative business that can provide just a little more than what they experienced with you.
Net Promoter Score groups your customers in clear categories
The basic premise of Net Promoter Score is to help businesses categorize customers into three distinct but very important categories: promoters, passives, and detractors.
By being able to group your customers by sentiment, you are empowered to make business decisions that shift corporate culture in a way that is conducive to a better customer experience, thus improving the ratio of promoters and raising NPS.
Isolating each group early allows your business to correct customer service concerns through direct customer remedy, and address possible service issues that might impact other customers. Additionally, you are able to invest resources in converting passives into promoters through facilitating improved experiences before losing the customer to the competition.
You can read more about ReviewTrackers’ NPS-based feedback rating system here.
Net Promoter Score, with contact info, drives engagement
By having additional details as well as contact information, you should be able to reach out to the customer and do what it takes to remedy the concern through clarification or apology.
When you are on top of things – engaging proactively and running diagnostics in every aspect of your operation – chances are you are able to thwart negative reviews before they even happen.
A Net Promoter Score from a detractor should always be taken as an opportunity to right a wrong, and should be tackled with promptitude and the desire to turn the tables, hopefully to a point where the customer is, at a minimum, not inclined to submit a negative online review, and hopefully motivated to give your business another chance.
Net Promoter Score allows you to identify most loyal customers
With NPS, your business becomes empowered in terms of truly knowing who your most loyal customers are.
This knowledge can be leveraged in a variety of ways, from providing additional value through promotional initiatives, to equipping your promoters with tools to further amplify the message of your brand, such as coupons for friends and family.
Superior customer service seeks to balance harmoniously the art of righting wrongs, while committing to providing your best and most loyal customers with the recognition and appreciation they deserve.
Net Promoter Score facilitates accurate feedback
Accurate feedback matters, but unfortunately we live in a world where most people are over-saturated with information. Several studies point to the fact that the longer you take to ask for feedback, the less accurate it is going to be.
By collecting Net Promoter Scores, you can ask for feedback early and quickly; you’ll also benefit from the advantage of having a higher percentage of respondents. This paints a clearer picture of the things your organization is doing right, and the areas where there might be an opportunity for improvement.
Net Promoter Score can be social
With many businesses struggling to capture the attention of their customers through traditional channels like email marketing, having alternative avenues for feedback request is essential when it comes to increasing the pool of respondents.
When we identified this need, we found that having the ability to connect with your customers through social channels and allowing them to engage in surveys at their convenience instead of yours was essential in improving the response rate.
Social sharing of a post-transactional early-feedback survey like NPS will yield the results you are looking for and will allow you to further amplify your ability to capture feedback.
Net Promoter Score can put out fires before they spread
Knowing how to connect with your customers through their preferred means is key in making things right. ReviewTrackers’ NPS-based feedback request tool allows customers to provide their contact information of choice, equipping you to quickly resolve customer concerns before they explode into something more public and less manageable.
If your organization is not yet engaged in understanding the key drivers of loyalty, let ReviewTrackers lend you a hand. Request a demo today and discover why tens of thousands of businesses love our platform!