We Help You Accelerate Revenue Growth by Going Above and Beyond Traditional Customer Satisfaction through the Use of the Net Promoter Score Concept
The Need for Change
In today’s rapidly changing market with disruptive competitors competing for market share, customers bring a new set of expectations. Customers want to be delighted. As such, companies have to go above and beyond traditional customer satisfaction. Companies need to let every customer know that they, individually, are important to them. Customers need to feel valued, and the experience you provide for them needs to exceed their expectations. That means that every interaction with the brand — whether it’s your website, your products, your service, or customer service call — must both delight and “wow” them.
The Struggle to Get Going
In an effort to understand what customers want, many companies use customer experience surveys to capture feedback. Oftentimes surveys become too long and generate tons of data, which only leads to much confusion about how to act on the results. The data may sit in a survey department, with routine reports delivered to leaders who don’t bother reading them. Too often, the customer voice data doesn’t reach the operational leaders and front line staff in a manner that allows them to perform service recovery or create structural process improvements.
How We Will Help
At the Rendement Group, we will help your company approach customer experience challenges strategically, through the use of the Net Promoter Score concept. In our years of experience, the NPS concept is by far the best approach for achieving extraordinary customer experience and transforming unhappy customers into brand evangelists.
Net Promoter Score (NPS®)
The power of NPS comes from its simplicity and the ability to very quickly determine an initial process improvement strategy. You can get started with two questions, generating high response rates and a statistically relevant sample size of customers to survey.
(Net Promoter, Net Promoter System, NPS, and Net Promoter Score are trademarks and registered trademarks of Bain & Company, Inc., Satmetrix Systems, Inc., and Fred Reichheld.)
The NPS consists of two simple questions. The first question is, “On a scale from 0-10, where 0 means very unlikely and 10 means very likely, how likely is it that you would recommend our company to a friend or colleague?” Respondents are categorized as “Detractors” (scale 0-6); “Passives” (scale 7-8) and “Promoters” (scale 9-10).
The Net Promoter Score is calculated as follows: NPS = [% Promoters] – [% Detractors]. The single most important reason why NPS is so powerful in transforming unhappy customers into promoters is because detractors are deducted in the score. If all your customers are detractors the score would be -100, and if all customers are promoters the score would be +100. In order to improve the score you need to figure out what process problems are causing detractors and fix them.
The goal isn’t merely to improve your NPS score. This is where the second question comes into play. By asking “What is the primary reason for your score,” you will collect much needed “verbatim” of why customers are detractors. Instead of improving the score for the score’s sake, reading the verbatim will make you realize you are making process improvements for the greater benefit of your customers and your bottom line.
The data goes directly to front line managers and employees for an immediate response. Closing the loop—letting customers know they’re being heard, and then taking action to correct problems—is what really builds customer loyalty. A company learns what its customers are really thinking. Customers learn that the company really cares.