High customer satisfaction and customer loyalty backed by marketing dollars that work smarter and harder is every entrepreneur’s dream. It turns out the secret to having it all is hidden within one simple question. What’s your Net Promoter Score?
While Net Promoter Score (NPS) is a business metric designed to gauge customer loyalty, using it to inform countless business decisions is kind of genius. Every business owner wants to increase sales, but that’s not enough. Once you gain a paying customer, would they recommend you? If you’re ready to grow your business, here’s a look at how NPS can get you there faster.
Find the NPS score for your business
“On a scale of zero to 10, with 10 being highest, what’s the likelihood that you would recommend us to a friend?”
As a consumer, you’ve likely answered this question before. At first glance the question seems simple, yet for businesses it offers a powerful answer to an age-old question: “Do our business activities actually work?”
Smart brands proactively use NPS data to inform marketing decisions, customer experiences, product development and more. A NPS score is a proven customer loyalty metric that can deliver real value – and the higher your score, the better.
Create an NPS survey to:
monitor changes in customer satisfaction and customer loyalty over time
pre-empt negative customer reviews and proactively manage your brand’s reputation
measure your NPS score in relationship to key performance metrics such as retention and referral rates
predict and reduce customer churn (i.e. when a customer ceases his or her relationship with your company)
create an indicator of future growth; identify brand advocacy and word-of-mouth marketing trends
Once you’re ready to calculate your NPS score, keep data collection simple. Use an online tool to create the initial survey. Keep in mind, customers prefer a personalized experience. So, forget boring and bulky online survey tools. Use platforms that are designed to improve the user’s experience when filling out online forms. For example, Typeform offers an interactive NPS survey builder among other useful business survey templates. A conversational and human approach to data collection is important.
Ask your NPS question at the right time, in the right place
When you assess the loyalty of individual customers in real-time, you don’t have to wait for a dip in next month’s sales to decipher that something is wrong. Instead, you can immediately see if you’re losing loyalty and learn why. An automated NPS survey shared at the right time, in the right places can act as an endless feedback loop.
Once you create a NPS survey, decide when and where to ask the NPS question. For example, a good time to share your NPS survey includes: post-purchase, during product use (e.g. in-app push notifications), after customer support resolution, throughout product development as new features are released, and when online marketing and sales tactics are launched.
Next, distribute your NPS survey in the right places. If you distribute your NPS survey through various channels, you’ll reach as many of the right people as possible. Here’s a look at some of the best ways to get started:
transactional emails (e.g. welcome, purchase receipts, support requests, cart abandonment, newsletter sign-ups and thank you emails)
company website sales copy and key landing pages
content marketing that includes a CTA within each post
social media promotion with direct links to your NPS survey
After you launch the survey you can review response and calculate your NPS score. To identify the percentage of customers who would promote you (i.e. your NPS score), take the percentage of promoters (nines and 10s) and subtract the percentage of detractors (sixes and lower). That number is your Net Promoter Score.
NPS can build relationships and your bottom line
If a customer has a problem with their brand experience, wouldn’t you rather know about it immediately? Empower customers to share their thoughts instantly. You’ll be pleasantly surprised at how responsive your customers can be.
Present an attractive, single-question NPS survey to customers as they engage with your brand through their customer journey. Listening and responding to customer feedback is part of every successful marketing and sales strategy.
Use NPS as a new and improved channel of communication and feedback. If you want to boost word-of-mouth, improve customer experience, reduce churn, and increase the number of satisfied customers who become brand advocates, NPS is a simple and powerful solution. After all, “We will listen to you” is a strategy that builds relationships, brands and the bottom line.