Net Promoter® Score (NPS) is a powerful metric for business service firms. It is one of the most effective metrics because it directly asks the customer how likely they are to refer the company to a friend or colleague. NPS surveys help answer the following questions: How satisfied are our clients? Are there issues we don’t know about? Where do we need to improve? Which accounts are at risk? What are we doing right? Which customers are Promoters, Passives, and Detractors? If your business takes the NPS metric seriously, listens to the responses, and is proactive with with taking action – business growth will follow. Here are the top 5 ways NPS surveys can drive business growth: Boost Internal Morale — Happy Employees = Improved CX = Revenue Growth Collect and Tell Good Stories — 62% of customers believe they’ve read fake online reviews. It’s time to gather trustworthy, credible testimonials Visually Display Credibility — Earning and displaying awards for customer experience can deliver free PR opportunities and positive brand recognition, increase credibility and employee morale, and attract talent and customers Convert Passives to Promoters — Promoters tend to increase their spend 10% a year, while passives are 50% less likely than Promoters to refer to or repurchase from you Expand Accounts That Already Love You — 2% increase of total annual revenue thanks to account expansion alone Infographic sources: Proprietary ClearlyRated data. “The Business Case for Service Excellence.” ClearlyRated. March 23, 2021. “The Key to Happy Customers? Happy Employees.” The Harvard Business Review. August, 19, 2019.
