A customer is one who buys your product or service but once the purchase is done, a customer is also the one who will talk about it. The theory is simple, if the customer experience is good, he will talk well, and if not then you know what happens.
That’s why you must keep your customers happy at any moment when they are in business with you. But the question is how? Because isn’t it very specific for everyone that what makes them happy? No, when you are a brand, you can narrow things down to what a customer would need and what not. And NPS powers a whole system for that. So let’s look at how Net Promoter Score can help you understand your customers and make your business grow better.
The Impact of Customer Experience on Word-of-Mouth
Reaching potential customers is a part of marketing your brand, product, or service, and while there are many ways to do so, one among all is involuntary, word of mouth. It is a publicity tool that works by itself and there’s no need to launch a program for it. Word of mouth will always be there no matter if you want it or not.
But the problem lies in bad word of mouth or negative publicity. And that’s the reason why you need to control WoM, but how? The answer is to deliver a great customer experience. If you deliver a great customer experience and make your customers satisfied, they will surely talk positively about you. To eliminate bad WoM in case of a bad customer experience, try to come up with a solution as early as you can.
Key Metrics for Measuring Customer Satisfaction
But you are not sitting with every customer next door, so how will you know what type of talk people have about your brand? Here comes the role of metrics that allow you to have a reality check of your customer’s experience, satisfaction, and loyalty. Here are some of the popular ones:
- Customer Satisfaction Score
- Customer Effort Score
- Voice of Customer:
- Net Promoter Score
NPS is to measure the loyalty of the customers and we will be talking about this metric further in the blog as it is directly linked to WoM.
What Makes NPS the Go-To Metric for Businesses?
The popularity of NPS lies in its simplicity and if you think about how simple it really is? It is so simple that even a teenager can understand how it works. This simplicity leads to making it a metric that can be a KPI for all the departments in the brand.
If you look at it from the top or C-Suite perspective then it’s a clear metric to understand the growth of the company and if you look at it from someone from the sales department, you can identify the customers who you can upsell, resell, or cross-sell your products.
Now that you understand why NPS is so popular, let’s have a look at how you can use NPS to make your business better.
Our 5-Step Strategy to Maximize Your NPS Success
Gather Actionable Feedback
The first step to getting better results from NPS is to get feedback from the customers. Originally, NPS was a quantitative data metric as it unfolds the numbers of promoters, detractors, and passives. But, if you ask one more open-ended question like “Why did you choose this rating?”, it will help. You unfold a lot more details like specific reasons which you directly act on.
Act on Feedback
To continue, take action for the feedback you received. Now the action is subjective to the type of customer who shared the feedback. If he’s a detractor you must directly approach the customer and get the concern addressed. For promoters, who are more likely to give you positive feedback, you must thank them and use their feedback in your marketing. Lastly, the passive are also important to address to make sure that they become promoters and not a detractor.
Share NPS Insights Across Teams
Since NPS is a simple metric, sharing the results with everyone can lead to individual conclusions that you may have missed. A sales guy working for your company may get to see a trend that you can’t because he’s dealing with customers directly.
Implement Customer-Centric Improvements
As you get done with getting the results and insights, start taking immediate action. Make policies and changes that you think align with what customers need and expect. As you get the results of your next NPS survey, you’ll be able to see whether the changes worked or not.
Monitor Growth Trends and Optimize Continuously
Lastly, get a hint of what your company’s growth will look like. Since everything at last is connected to the customers, their satisfaction is what casts your growth graph. If you are getting a great NPS score and it is increasing every time, then you can expect a positive growth of the company. But if the case is vice versa, then you must follow the above four steps to get better growth.
Bottom Line
In conclusion, NPS is one of the best metrics to evaluate customer satisfaction and it’s important because today being customer-centric is one of the qualities of a successful business. If you also want to be in the top charts of your industry, you must chase your customers’ expectations until you meet them.
