A Startup’s Guide to NPS

NPS score is an acronym for Net Promoter Scores is a mechanism working as a tracking platform for the companies to assess the satisfaction of their customers who further promote their business by means for larger purchase and a larger customer base. NPS works as an intelligent feedback managing system that helps an entire company providing products or services to revolve around their customers and create a healthy B to C culture for them.

 

NPS score as rating system not just helps in getting better customers to a company but as investors. The process of deriving an NPS score for startups as well as well-established companies is by primarily focusing on getting feedbacks from their customers through surveys and gathering their experiences while purchasing and the image the company holds in their eyes at large.

 

The reason why Net Promoter Scores is important is because since the idea of economy and entrepreneurship has been in existence, customer base has been the most important asset to any company for growth and sustenance. Happy customers also promote more sales and better customer influx. Hence, better income. NPS works as a metric that can be utilized to assess the customer satisfaction and loyalty level vis. how they have been promoting you.

 

It goes without saying how much this mechanism would mean to a startup that relies heavily on how their customers and clients respond to their performance. Let’s catch a glimpse of how a startup can use NPS to its benefit.

 

  • Net Promoter Scores is a metric mechanism that helps you assess the chances of you getting noticed, recommended by your customers to their colleagues, relatives, friends, acquaintances, etc.

 

  • The promoters’ score are tabulated as either a positive or a negative. The more positives you get, the better your chances of getting promoted to others by your customer are.And vice versa.

 

  • Net Promoter Scores works on three dimensional ground. All three dimensions are seen segments under which you can put your customers and their ratings.
  1. Promoters
  2. Detractors
  3. Passive Customers

 

Promoters generally give you a positive feedback with a ranking/score of 9-10 and are apparently your loyal and satisfied customers. Passive customers will rate you from 7-8 and can be dicey in recommending you to others. Detractors on the other hand are most dissatisfied and clearly upset customers who will show no interest in recommending you to anyone. They will rate you from 0-6.

 

  • Now understand how you calculate the total score. You collect all the scores and subtract the promoter’s percentage from the detractors percentage and you shall get your final verdict. You will be remaining with a score ranging from -100 to 100. A score of +50 is considered a good score for startups and that they are at a higher chance of being recommended further.

 

  • For a startup, it can be a little difficult to get hold of a direct survey prepared for them to check their customer loyalty level, for that you can initially rely on various NPS Tools found online.

 

  • Once you decide upon which tool to lay hands on, decide on how you would like to go about it and what would you like to ask you customers apart from the one question mentioned below.

 

All this depends primarily on one question in the survey- “how likely are you to recommend us to others?”

  • If you have probability of being rejected of sorts by your customer or some disloyalty issue, think again! it might be because you are lacking somewhere in pleasing them, more than appeasing the customer and luring them with offers, it’s actually the products and services you offer that meant more to the customer at the end of the day. Rectify where you are lying low.

 

  • In a corollary to this, you make sure to ask your customers the next very important question, “WHY?”. Ask them what could be their reason to not rate you well enough and how can you improve. And try to fix the issues. It will help in the long run.

 

  • Whichever tool you use, make sure it is user friendly. Customers who are loyal to you are most likely to fill in any survey form or questionnaire, manually or technically. But if the process of providing feedback is more tedious than purchasing itself, who would like to provide you with it whilst taking time out for this special requirement of yours. Make simple questions and make the platform user friendly.

 

Understanding your customer is the major challenge for any company and improving and increasing your customer base is the real challenge besides maintaining the quality of your products and services worthwhile. Hopefully the tips mentioned above help you in fetching that ideal Net Promoter Score while encouraging your customer base to promote you to others, stay loyal and increase your revenue.

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Creating Customer Satisfaction Surveys

Customer satisfaction survey is a methodological tool that helps a company assess the peripheral growth where the customers are in the forefront and company is the provider playing in the backdrop of their customers who are consumers also. This survey is a management tool that helps product and service providers assess loyalty and satisfaction level of their customers.

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How to Choose 2016’s Best Customer Loyalty Software?

Customers are goods to the companies.

 

Customers are the saviors.

 

Customers are everything!

 

Companies preach and pray to the customers. They breathe in and drink the elixir called customers and therefore, cannot afford to lose them or annoy them. Keeping a track of their loyalty and customer satisfaction index is a major commitment they work on since the product is out in market and does well.

 

The companies keep a tracker of the loyalty they share with the customers and customer satisfaction index under one roof which is run by customer loyalty software.

 

Let’s take a dig at the features to consider while picking the best customer loyalty software for the year 2016:

 

  • Choose a software that increases performance of outward campaigns by collecting all the information and into one user friendly, web based, platform enabled with decision support system. It should consist of ultimately useful tools like dialer, campaign and workforce manager, web based agent panel, call recording, script creator, call queue, outbound simulator and forecasts. To maximize revenue and performance for outward campaigns, Artificial Intelligence must be used.

 

  • Managing your sales from a smartphone or tablet and retain and engage your customers with various inventories and sales acquisitions thereby, increasing their purchases and luring them towards the offers company proposes is what most good softwares must do. It should be smartphone friendly software to manage all your inventories and loyalty checks. It should help you send messages and e receipts while collecting their valuable feedback and staying in touch with them.

 

  • Providing digital rewards to your customers is one easy way to gain loyalty and smiles of your customers and entails a popular variety of e-gift cards, digitally generated debit and credit card rewards, not for profit donations. Pick a software that uses expert support to back the customer catalogue and the offers company solicits. Delivers incentives in bulk and in real time to maximize impact.

 

  • The software must ensure maximum safety to all the data stored about the customers and must be solution ready.

 

  • Must do all the front and backend work for the retail store and maintain all the data with efficiency. Must have all the features in it, from Inventory Management to Planning Engine and every other feature of retail chain management with accuracy. It should essentially be integrated with SAP Retail (ECC6.0), SAP Business One along with other ERPs.

 

  • The best loyalty software for small business ventures must help in running the show. The software must work on app based approach and make it easy to engage the customers in the luring offers companies make. It should not only give loyalty points but also gives updates and promote events of the company. It must use push notifications as a function and this is seen as a great advantage.

 

  • You can also go for digital stamp cards for smart phones/ Android and iPhones. These are smart, elegant and robust apps and help you efficiently connect with your customer.

What Makes the World’s # 1 Customer Experience Company?

Customer experience is something that is not just for big businesses but for every business out there.

Great customer experiences don’t just occur by chance. They’re the outcome of better practices that take place out of sight each day. Companies that constantly convey exceptional experiences and have the loyalty to show that putting customers first will get to brand success.

Here’s what great organizations do to become world’s #1 customer experience company:

  1. Start from Within

The companies conveying the exceptional customer experiences nurture a strong inner culture that’s centered on customers and employees. They understand that taking care of employees well and generating an environment that supports them raise and make excellent decisions outcomes in customers being delighted well.

2. Don’t Just Sell

Utilize emotions to engage with customers on a bigger level. Rather than concentrating on the product, they concentrate on what the customer requires at that very moment and what their product can do to fulfill their requirements.

3. Invent Trends

The great leaders don’t follow trends they invent them in unique ways. They don’t pursue the principles and jump in the market to gratify the present trends. Instead, they identify what customers desire before they even request it.

 

4. Don’t Follow Customers

To provide the finest customer experiences, the great companies know they can’t be everything to everyone. There are some customers who would acquire profit from their services, products and experiences. If they attempt to trade to those individuals who aren’t the perfect fit, they won’t please them.

 

5. Work Out the Small Stuff

A great customer experience company understands survey responses in details when it’s about the customer experience. They concentrate on every single touch point with correctness and offer frontier employees plenty of freedom to ensure that things work out the way that customers want.

 

6. Dedicate and Stay Dedicated

Great companies bonded to their principles and values — and expect the same from their employees — even if doing that is complicated, like when they might stand to generate less wealth. This way they can stick with their values and principles to assist their trusty customers and execute what’s better for them. They only grow when they’re certain that all their customers are more than happy with them.

 

  1. Personalization

They personalize their customer services for great customer experience. They deeply understand their customers and proactively encourage customers. They share relevant and useful information to keep informing customers about their latest trends. They invoke a feeling of care and respect.

 

  1. Uniformity

Customers like predictability and certainty. It signifies that the choices we make have less risk because we can assertively trust the results. It also shows steadiness, and a mutual understanding of, tactic.

  1. Reliability

Reliability is a major aspect. Customers will only trust those companies who they believe are reliable. Great companies give assurance and a level of belief when we buy from them. They greatly understand that their reliability is the key to advocacy and repurchases.

  1. NPS Understanding

Net Promoter Score (NPS) also plays a vital role in customer experience. The deep understanding of net promoter score is the key to provide outstanding customer experience.