What is NPS
Net Promoter Score (NPS) is a metric used to assess a company’s customer loyalty, contentment, and enthusiasm. It is determined by asking consumers one question: “On a scale of 0 to 10, how probable are you to suggest this brand to a friend or colleague?” ” Aggregate NPS scores assist businesses in improving service, customer service, delivery, and so on to increase customer loyalty.
Understanding all about the Net Promoter Score
NPS can be used to forecast business growth. When your company’s NPS is high (or, at the very minimum, higher than the market), you know you have a good relationship with customers who are most likely to act as brand evangelists, fuel word of mouth, and create a positive growth cycle.
On a strategic level, the Net Promoter Score is a valuable metric, but the score alone is insufficient to be beneficial or paint a full picture.
Let’s dive head first into the pool of tips and tricks to boost up your NPS game!
Customers are your best friends.
The Net Promoter System encourages businesses to always ‘close the loop with their customers to delve even further into the context and reasons for their scores. You can collect additional feedback through techniques such as face-to-face interviews, follow-up emails, and so on to direct your time and effort in a customer-centric manner.
Start taking action when a critic (0-6 rating) appears. Connect out to the consumer, take their claims seriously, and work to remedy the dispute (or, if you can’t, explain why it isn’t happening). Caring is an essential step toward repairing the relationship.
NPS is the center of your world.
Ensure that every leader in your organization recognizes that your goal is to gain as many promoters as doable and that they end up sharing this vision throughout the organization.
Explain what NPS is, how it will be measured, and how it can be incorporated into your company’s annual reviews. Consider incentivizing your teams based on NPS ratings and feedback rather than solely on revenue or the bottom line
Meetings, Meetings, Meetings!!!
The creator of NPS, Fred Reichheld, refers to these sessions as “huddles.” These brief, interactive meetings serve to reaffirm everyone’s commitment to providing an exceptional customer experience while also providing a platform for teams to share service escalations and brainstorm solutions.
Feedback is always welcome
NPS survey open-ended feedback can point to aspects where various departments can improve. When appropriate, use constructive criticism as a guide to train employees on how to improve the customer experience.
Inspect the Root and find the cause
When comparing feedback from promoters and detractors as part of your NPS analysis, you may notice patterns—for example, one department team will have more than its fair share of critics, while another receives outstanding scores. In this case, your next step should be to conduct a thorough root-cause analysis to determine whether the low scores are due to the branch, the product portfolio they cover, or something else entirely. At this point, you are ready for the final step:
Evolve and Thrive
You don’t want to change your entire site or product based on a few complaints, but if detractor data points to a structural issue, you should act and incorporate innovation in products, policies, and messaging where appropriate. Tracking NPS and attempting to compare pre-and post-change scores and constructive criticism will help you determine whether your changes were successful. If you see an improvement, that’s fantastic—you’ve earned more promoters!
Timing is key
If your business sells products, you should send surveys after a certain amount of time has passed since a customer’s latest acquisition or consumption experience. If you provide services, bare in mind that a customer’s satisfaction levels will fluctuate throughout their service experience. If you own a homestay, you would get different outcomes if you ask a buyer to rate their experience after they have just checked into a hotel room and also when they are paying the hotel bill at the front desk.
Generic Emails? Boring!!!!
Nothing is more unappealing than a cliched cold email soliciting customers to participate in a survey. To increase success rates, address people by full title in your emails’ main structure and include a compelling copy.
Dig deep. Not too deep.
It is critical to ask, ‘Would you suggest us to a friend or acquaintance?’ However, it is equally as important that you allow your customers to openly express why they have given a particular rating.
If you believe it is relevant, you may ask questions about the more detailed and accurate aspects of your business. Just be careful not to ask a lot of questions, or your response rate will suffer.
Fill the Gaps.
Slow load times, faulty buttons, and perplexing scale formats can all irritate even the most ardent promoters. Surveys that are well-designed keep your NPS from becoming biased and inaccurate.
Do it now !!!
If you decide to contact a detractor, do so as soon as possible. As per Harvard Business Review, the average consumer expects businesses to respond to their emails within 24 hours. If your company exceeds their expectations, they are more likely to become proponents in the future.
How can we forget our well-wishers?
Companies, as previously stated, should concentrate on detractors. However, you should also encourage your promoters and incentivize their loyalty with price reductions or special edition products. This will encourage them to spread the word about your company even more.
Convert the fence sitter
Passives are often overlooked when it comes to increasing your NPS, however, there is a way to turn them into promoters. In other words, passives must be impressed. Recognize key themes in promoters’ reactions and integrate them into your marketing strategy to learn what aspects of your product or service may impress them.
We need each other
Only customer-focused businesses achieve long-term achievement with their NPS. Your organizational culture is critical for this to occur. Every employee (no matter how senior) is connected in the valuation delivery process, so it’s critical that everyone understands their importance.
Sharing is caring
Because increasing NPS requires a collaborative effort, every department in your company should be aware of the scoring system and the steps they must take to enhance customer satisfaction.
Let’s all have each other’s backs, shall we?
According to research, frontline service employees who receive some autonomy have greater customer satisfaction. Instead of having to tell them to follow a strict code of conduct, teach them to embrace a change mindset. Allow them to personalize their delivery of services and come up with solutions to problems to service issues.
Keep a close eye.
Continually monitor your NPS Your net promoter scores are only useful if you monitor their evolution over time. Constantly monitor outcomes, and will assist you in trying to analyze the health of your business.
Divide and conquer
NPS surveys are an excellent way to differentiate your audience and develop targeted strategies for each segment. Audiences can be segmented based on profits, products, service plans, or customer personas.
Once you’ve segmented your customers, you can tailor your unique selling proposition across advertisements, sales, and brand engagement to accommodate their requirements and improve their experiences. A well-defined NPS hierarchy allows for the execution of the NPS plan to be coordinated and well-planned.
Understanding your customers requires customer segmentation. NPS naturally divides customers into three groups. They are Critics (customers scoring around 0 and 6), Passives (consumers scoring about 0 and 8), and Promoters (customers scoring between 0 and 8). (Customers who respond with 9 or 10).
Experience is everything
Create an effective customer-driven plan for increasing adoption and the Net Promoter Score in the organization. Describe the customer touchpoints to cover the engagement channel, customer segment, and survey frequency.
Create the CX program so that interesting and thoughtful actions could be taken. Create role-based dashboards and trigger-based notifications so that all feedback is shared with the appropriate teams for immediate action.
Define the plan of action for the feedback, including the workflow, who will lead and review, and what questions will be sent in a survey.
The Net Promoter Score is an incredibly valuable metric that, when used correctly, can completely transform your customer experience. Its deep insights are extremely useful in developing initiatives to enhance brand loyalty, drive user base, and boost revenue.
It not only assists you in gauging customer satisfaction and loyalty, but it also assists you in identifying areas for improvement, prioritizing outreach to detractors, and increasing referral marketing. And, as you may know, referred customers have a 16 percent higher overall value and ROI than non-referred customers. As a result, continuously improving NPS is more of a requirement.
So, focus on creating great customer experiences that generate promoters to compete with major corporations like Costco, Apple, Dillards, Amazon, and Southwest Airlines, all of which have NPS scores above 70.
How Can Survey2Connect help?
Survey2Connect is used by some of the world’s most trusted companies and has been successful in managing their customer experience efficiently over the past years.
Survey2Connect provides a one-stop solution for all your experience management needs. With S2C you find the right answers to take timely actions. Get in touch with us for a demo.
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