The #1 reason why NPS® will FAIL in your organization! - Omni-channel NPS® Solution
Customer value, Customer loyalty, passives, detractors, promoters, NPS, Netpromoter score, Growth driver
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The #1 reason why NPS® will FAIL in your organization!

Creative ways in which NPS can be a massive growth driver for your company

We always get a puzzled look from our clients and prospects alike when we mention to them that collecting and monitoring Net Promoter Score® is just the tip of the iceberg. Ofcourse, there is asking the follow up question to understand whether you are doing well or not. And then there is setting the right process  in place to manage and operationalize feedback received.

But what if we tell you there is much more you could do with NPS than just the above.

We know you’re curious.

However, before you begin using NPS as a means to build your business, it is essential that you apprehend and embrace the calling need for you to track every customer’s journey and your performance at every touch-point in the same. You must hence make it a practice to map every customer experience and work towards optimizing their satisfaction henceforth.

Now, let’s quickly jump on to a few creative ideas on how you could use your NPS score.

 

 

Better segmentation and management of your customers in a B2B Scenario:

In a B2B scenario NPS can be a great value add in terms of account management. You can know what each customer feels about you and also identify opportunities to up sell or cross sell.

The correlation between loyalty and value can help you plan your marketing and service mix. Based on these parameters the customers can be divided into four quadrants as mentioned below.

Slide1.jpgQuadrant 1: Clients in Q1 are high in value and loyalty. They can give you knowledge on what you are doing well. You must concentrate on rehashing what you are doing with this client and get a greater amount of such clients. These customers are not just willing to pay you more but also whine less.

Quadrant 2: Clients in Q2 merit your quick consideration. Being not all that devoted, they clearly are not pumped about working with you but rather, they are the significant ones. You must comprehend what turned out badly and take a look at settling their issues.

Quadrant 3: These customers are neither loyal nor high on value and what they tell you is exactly what kind of customers you shouldn’t be targeting in the future. Or would you spend time and money in moving these customers into some other quadrant. What goes without saying is in the latter case consider your ROI.

Quadrant 4: These customers are your up sell or cross sell opportunities. They clearly love you and would love to buy more from you. Explore more into their profiles and find out if you can find or develop something for their profile.

NPS can be a great source for your marketing campaigns:

Promoters clearly are in love with your company. A promoter clearly doesn’t mind giving a testimonial or writing a review. Its your duty to use them to promote yourself. So go ahead and make it easy for them to share these testimonials on social media. Promoters are one customer fragment that loves your company and will recommend it by spreading positive word of mouth. This is more authentic and effective way of promoting your company than blowing your own trumpet.

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The passives might not be very inquisitive but you could ask them to subscribe to your newsletters, staying in touch with them on social media. This is a low touch way to show the good work you are doing at your company. They might eventually become a promoter.

The detractors should be handled cleverly, however. Ginny Soskey of Hubspot has a very creative suggestion for handling detractors. She says, you might offer a way for detractors to unsubscribe from your emails or change what types of emails they receive from you. It seems counterintuitive, but if you can creatively position the unsubscribe, you could actually make your Detractors love you just a little bit more. Groupon’s unsubscribe page does a great job at letting you unsubscribe….. while also making you like them.

In effect, you need to market differently to each group and a spice of creativity goes a long way.

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Happy Employees means happier Customers: 

You might be tired of hearing this from us but it goes without saying how vital your employees are to the progress of your company. Your employees are your company. Rob Markey says, “Companies who master the Promoter Flywheel consistently create the right conditions in which their employees have the authority and accountability for creating more promoters among their customers. These companies stimulate “micro-innovations” in which employees experiment with new approaches to creating promoters. Employees can engage in these micro-innovations because they have clarity about the objectives (creating more promoters) and guidelines within which they can operate (company values, regulatory requirements, etc.). Clarity about the objective fuels their imaginations. Clarity about the guidelines and values frees their creativity from close supervision and the constraints of creativity-killing approval processes.”

To summarize, if a company can keep employees happy, then cost goes down and productivity goes up. And when your employees have the ownership towards your company then they themselves come up with innovations to enhance the CX.

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To sum up NPS is not just a measuring and monitoring tool. The feedback can be considered to boost your growth by segmenting customers so that you could up sell or cross sell, using the promoters’ testimonials as a source of marketing and enhancing employee engagement.

Hope you found this useful. If you have any other ways of using the NPS please mention it in the comments section below. We would love to hear from you.

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