Do you have the tools to?
- Help your employees clarify and simplify the job of delighting customers?
- Help you identify and engage your best customers?
- Allow you to compare your performance — to yourself and to industry leaders — from week to week and month to month?
Over the years, companies have developed many different methods for gauging the attitudes and behaviors of their customers. None of these methods is perfect; all are simply attempts to gather data that a company can use to improve its products and processes. In 2003, Fred Reichheld, a partner at Bain & Company, created a new way of measuring how well an organization treats the people whose lives it affects — how well it generates relationships worthy of loyalty. This metric is called Net Promoter Score, or NPS. http://www.netpromotersystem.com/about/index.aspx What is your NPS score? Do you know who is likely to recommend you? Who is likely to damage your brand or impede your growth? Who is vulnerable to competitive offerings?
Net Promoter Score to the rescue! NPS can assist companies in a variety of ways.
- Reduce Churn
- Generate powerful insights
- Increase accountability
NPS is based on the premise of understanding how likely your customers are to recommend your organization to a friend or colleague.