You’re proud of your empire, whether it’s small or large in scale. You’ve put in the hard yarns to build a brand; the products and services, employees and culture which all align with what your company’s values and goals are. This doesn’t matter…
Well it hugely does, but what matters the most is how your target audience perceives these elements of your business. Brand image is key to most companies mission and vision. You want growth and profitability… you need satisfaction from your customers.
What is NPS?
“On a scale of 1 to 10, how likely are you to recommend our company’s product or service to a friend or colleague?”.
Chances are you have heard this question before; maybe you asked it and maybe you answered it. This is how companies work out their Net Promoter Score (NPS), a metric used to measure the loyalty of a client base and how likely they are to recommend a product or service.
Why businesses are using it?
The best way to ensure growth of your company? Focus on your customers experience.
NPS results can be as low as -100 (everyone is a detractor) or as high as +100 (everyone is promoters), with a good NPS score being in the positives. Companies are using NPS ratings to gain insight from different points of the customer journey and their willingness to refer friends and family.
What do your customers really think of you?
Based on the rating customers would give you, they can be classified in to three categories:
If they scored you equal or lower to 6, they’re most likely not satisfied with your product or service. They perhaps won’t use your business again and may even spread negative word-of-mouth or reviews.
Giving you a score of 7 or 8, the customer is satisfied to a degree. They most likely would switch to a competitor if provided with a better opportunity. You won’t receive negative reviews from them, however they might not promote your brand by any means.
With an answer of 9 or 10, promoters are your ideal clients. They love your services and products enough to make repeat purchases and recommend your company to other potential consumers.
Ask for feedback beyond your NPS. Not every customer is going to provide feedback, whether they had a good or bad experience.
Therefore, look wider than your rating; question detractors, passives and promoters why they have given you that score. This will assist in gauging their loyalty or dissatisfaction towards your brand. There may be underlying issues or trends, which you should work to resolve if you see fit. Use the positive feedback to engage new prospects and understand your organisations strengths.
Your company is not going to be everyone’s cup of tea. Every business has detractors, passives and promoters. Promoters are a vital part of growing your organisation, yet so are detractors.
Essentially, if you don’t care about customer satisfaction, don’t expect your customers to care for your product and service. Your audience is your brand, therefore always have them top-of-mind. NPS can be a powerful tool to build your company’s overall brand image and customer satisfaction.
Want to know your NPS? The team at Greenfish Marketing can assist you with this, as well as with building a strategy to get more promoters on board. Find out more by directly.