NPS is a valuable metric that provides insight into customer loyalty and advocacy. However, achieving excellent scores requires more than just sending surveys.
Getting high survey response rates, staying on top of incoming feedback, and closing the loop are all essential strategies for improving your NPS. Learn how to do all of them with these expert tips.
Identify Your Most Loyal Customers
A net promoter score is an indicator of customer satisfaction and loyalty. Understanding the net promoter score definition and getting to a high score (and keeping it there) requires a comprehensive effort from your entire company. Obtaining endorsement from senior leadership and cascading this commitment through every team in your business is essential.
It will ensure everyone understands the end goal and their role in achieving it. It will also motivate employees to focus on customer experience and drive growth. An excellent place to start is identifying your most loyal customers. Research indicates that loyal customers are 50% more likely to try a new product and can spend up to 31% more on purchases than new ones. Your brand could only benefit from these significant amounts of revenue if you focus on customer loyalty.
Creating a loyalty ladder is another excellent way to identify your most loyal customers. Companies can map out loyalty ladders by analyzing sales records, interviewing account management teams, and examining customer surveys. Tracking and analyzing customer feedback regularly is essential to improve your NPS.
You’ll be able to monitor the development of your customer loyalty programs and pinpoint any areas that require more attention. An excellent way to do this is by leveraging the data from open-ended questions in your NPS survey and running text and sentiment analysis. You can then use these insights to create a prioritized CX action plan.
Identify Your Most Dissatisfied Customers
Customers’ dissatisfaction with a business can cause long-term damage, especially when vocal about their problems. They will complain online, spread negative word of mouth about your brand, and may even bring back products or stop using your services altogether. It’s critical to identify these dissatisfied customers and find out how they are causing harm so that you can take steps to resolve their issues.
You can locate your detractors through a Net Promoter Score survey, typically conducted twice yearly. The survey will ask: “How likely are you to tell a friend or colleague about our business? “Those who answer with a 0-6 are considered detractors, those with 7-8 are passives, and those with 9-10 are promoters. You can also use open-ended questions in the survey to ask for more detail about why they gave you a particular rating.
Finding out why your detractors are unhappy can help you implement changes that make a difference. For example, if many of your detractors say your product isn’t reliable, you could introduce new features to make it more so.
Alternatively, if they say your prices are too high, consider lowering them. Closing the loop with your detractors and implementing changes is one of the best ways to improve customer satisfaction, increase your NPS score, and transform your company into a truly customer-centric business.
Invest in Customer Service
In a time where customer experience has become the most important competitive differentiator, investing in your customer service team is one of the best ways to improve business performance. Customer service isn’t just a support system for your customers; it’s also a marketing tool that can grow your customer’s lifetime value and lead to recurring revenue. Feeling supported increases a customer’s likelihood of making repeat purchases by five times, recommending a product by four times, and trying new ones by seven times. It makes customer retention an excellent way to boost your bottom line, as it’s 5x cheaper to retain customers than acquire them.
A great way to increase your customer retention is by using proactive customer service. It involves sending surveys to your existing customers to find out if they are happy and to help them resolve any issues. It can be done through omnichannel communication, empathetic conversations, and offering various support options such as email, phone, and chat. Investing in customer service is the most cost-effective way to increase your business’s profits and create a loyal following.
Customer loyalty can be boosted by providing valuable information, encouraging them to recommend your brand to others, and helping them solve their problems best. With these strategies, you can turn your customer support into a flywheel of positive revenue and long-term relationships.
Create a Customer-Centric Culture
Companies need to ensure that every employee is aligned with customers. It requires streamlining internal processes and removing barriers that might hinder the customer experience. Long-term, sustainable change requires staff members the freedom to make choices that will double the benefit to the customer.
It might seem not very interesting, but developing a customer-centric culture that will help you improve your NPS score and grow your business is essential. Astute business executives understand that satisfied clients generate more revenue, a positive reputation, and long-term viability for their organization. But turning this knowledge into a tangible, customer-centric culture is more challenging than it appears. Many companies need help implementing an authentic customer-centric culture because they can’t get their people on board.
While some resistance is natural, it’s important to remind your team of the benefits of customer-centricity. The best way to do this is by highlighting the positive effects on your business and customers. By clearly defining your values and mission and providing training and leadership supporting them, you can encourage your team to follow through on their promises and deliver an exceptional customer experience. Building a customer-centric culture also involves creating a solid brand identity. It includes establishing the unique value proposition that differentiates you from your competitors, developing your employees’ brands and helping them connect these with the business brand.
