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3 NPS Best Practices to Drive Revenue Growth

Author: Efuah Faler
April 11, 2017

The Net Promoter Score (NPS) is one of the worlds most powerful customer satisfaction tools, with companies like Apple and Amazon making it their preferred choice.  One of the reasons that it’s so popular is its strong link with revenue growth. Apple, for example, has been able to gain $25 million in annual revenue by following up with its detractors.

In order to achieve significant revenue growth, there are certain NPS best practices that you need to implement. In this post, we’ll identify what they are.

1.) Understand the why and fix it

The Net Promoter Score, is really more of a system. One in which you should give your customers the opportunity to comment on why they gave you a certain score. By doing this, you’ll have a much clearer idea of what’s working and what’s not.

Your detractors are more likely to churn so it’s important that you follow up with these types of customers in a personal and direct way. Understand more about their bad experience and work on fixing their issues. You’ll reduce the risk of them leaving and encourage them to give you another chance.

And even if customer feedback seems erroneous, respond to it with politeness.

Customer service expert, Shep Hyken says “The customer is not always right, but they are the customer. So if they are wrong, let them be wrong with dignity and respect.”

2.) Share feedback with customers and employees

The Net Promoter Score shouldn’t be confined to the boardroom. All employees have a role to play when it comes to the customer experience. If you want to see improvements to the score, you should make it a company wide effort.  Employees should be made aware of the importance of NPS and be encouraged to focus on customer happiness. Make sure you give employees the ability to track how the score is changing.

Customers should also be kept in the loop. Regular engagement is key when it comers to securing a loyal fanbase. Let your customers know how your business will be improving as a result of their feedback. They’ll feel happier in knowing that their option counts and they’ll be more inclined to take future surveys.

3.) Utilise word of mouth promoters

It sounds simple but it can often be forgotten. Your promoters love what you do! So make sure you’re encouraging them to tell others about you. Suggest to them that they post a review to social media or even directly to your website. Word of mouth referrals are extremely powerful.

They can encourage new customers to your brand which will not only increase revenue but will also reduce your marketing costs.

What other ideas do you have to achieve growth with Net Promoter Score?  Please leave your comments in the section below.



 

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