4 Ways Organizations Can Drive Growth Using NPS
Growth isn’t just important, it’s absolutely essential. It is, in fact, the goal of every enterprise whether big or small. However, to achieve and sustain growth, a journey has to be made. A journey that entails various twists and turns as well as highs and lows and remains incomplete without collaboration and interoperability. The better you get the grip of the journey, the better results will be.
While every enterprise has a different quest-for-growth journey, there are a few elements that remain common. One of them is customer experience. In order words, if a company wants to grow continuously, it needs to put emphasis on their customer experiences. It’s easy to see why given that customer experience comprises:
- How much consumers like the brand or service, and how much they love engaging with it
- How satisfied customers are with the product or service
- How likely they are able to recommend it to others
After knowing the importance, it’s time to delve into methods that help companies craft such compelling customer experiences. One such method is NPS.
Companies can gauge and improve customer experiences by implementing their Net Promoter Score – a metric that uses customer responses to measure their satisfaction and loyalty. Let us discover how Net Promoter Score can help businesses achieve their growth objectives.
- Enhanced Marketing Results:NPS surveys improve companies’ marketing efforts by helping them focus on customer satisfaction as the results indicate exactly what parts of the product or service outshine. By using this information, organizations can craft better campaigns that can pull in potential clients faster. Apart from that, NPS can help businesses in many other ways:
- If companies are losing their client base, they can evaluate what exactly happened and accordingly take actions.
- The negative customer opinions can be used to evaluate pitfalls.
- The gathered accurate data regarding customer sentiment can be used to set real, actionable marketing campaign goals instead of speculative ones, making it easier to monitor progress or growth.
- Improved Sales: NPS survey is done by asking the open-ended question, “How likely are you to recommend our product to a friend or colleague?”. However, it is often supported by more questions to refine the survey further. The survey aims to understand customers’ expectations and not just their opinions. Enterprises can analyze the responses to know how customers view their service or product. This not only helps them identify improvement areas but also customers’ personal pain points. Moreover, companies can use this information to build trust and loyalty-based relationship with the existing customers, driving sales and ultimately revenue.
- Amplified Brand Image:Handling detractors, those customers who have rated between 0 to 6, is always challenging. However, they can prove to be an excellent source of information for companies who are willing to make their product or service better. Companies can use the information to find where their product is lacking and what they can do to improve it. Simply put, feedback gathered from detractors can be used to improve the quality of the product or service. Moreover, by evaluating the feedback and making changes, organizations can turn their detractors into promoters.
- Accelerated Growth:The Net Promoter Score helps companies make accurate predictions regarding future development, thus allowing them allocate resources and manpower with ease. By identifying the number of promoters, they can assess their reach and deploy solutions like data integration to fully capitalize on it.So, NPS is an important tool for business.
To conclude, NPS surveys establish a direct line of communication with customers, both existing clients and potential customers, to quickly grow your business. Go through our detailed NPS whitepaper to know its impact in detail.