How businesses are turning a new leaf with Net Promoter Score
Given the huge repute of Net Promoter Score (NPS), it is quite inevitable to wonder whether to go with the flow and adopt it as a business function just like others or let it pass by.
But, if everyone is vouching for it then there must some truth about it.
There are a number of customer service goals you can dish out for your company, but there is nothing like Net Promoter Score that can woo you with its impact. Especially, when it comes to expanding your brand awareness that can lead to repeat sales, NPS is second to none.
Here is NPS for you
To put it simply, it is the loyalty metric of a customer that defines the allegiance of the buyer towards a product or service.
Favored by almost 70% of the Fortune 500 companies in the world, NPS is welcomed with open arms on account of its competency to predict growth and retention.
The purpose of NPS kicks-off with a single statement- On a scale of 0-10 how likely would you recommend [company name] to a friend or colleague?
Those who offer a higher score are called promoters, while the ones with low scores are detractors.
So basically NPS = Promoters – Detractors
Why NPS can look up to Artificial Intelligence (AI)
Like any other metric, NPS is the sum total of how a company behaves towards its clients on a regular basis. This clears the air that AI can be used in certain business activities that shape customer experiences. For instance:
• Quick discovery of the Detractors– Apart from NPS, there are other ways to detect signs that certain customers will never offer a high score. Using AI, data can be pulled out from various non-traditional sources to find out how many times such customers have engaged with marketing materials and whether a survey form was ever filled or not. This move will not change the NPS score for you but will give you an idea what to expect from a particular customer.
• Helping promoters to promote– One of the ‘not so good’ aspects about NPS is that it is filled in a hard copy format, which makes it next to impossible to share the experience with friends and families. Now imagine AI offering tools for recommendations that you can share with everyone (via social media and blogs), like pre-written posts. Things will be easier done then ever said.
• Changing Passives into Promoters– Those who give out the rating of 7-8 are typically Passives, and their opinion do not hold much weight, hence are excluded from the final score. These people typically fall under the category of safe group, but AI enables companies to enhance the experience of these customers and turn them into potential promoters.
NPS also impacts sales
When it comes to increasing sales, all other business functions become secondary. There are three feasible ways by which NPS can impact sales, include:
• Business plan- When you use your NPS data in a bid to leverage it and use the information to design your business plan that represents customer sentiments and has everything that the customer wants you to include or take care, your product/service is bound to be a hit.
• Restoration- It is important to know how your clients look at your brand so that you can make the necessary changes, NPS is a must. With the help of NPS data, you can dwell inside the mind of your customer, get a peek-a-boo about their experience and journey, and integrate the data in the sales pitch.
• Career Path- NPS data can impact your sales career in a good way. Imagine you have all the data from NPS like how a customer wants the product to be delivered, what they are looking for in a brand, and you can integrate those points in your sales pitch. Result-rise in sales and a promising career.
To conclude with
Easy to inject into your brain and straightforward, NPS offers a touchstone to appoint your workforce in your customer experience agenda. Taking as long as 15-18 seconds to complete the survey, NPS offers you valuable data with which you can build an extension of your sales force with clients who are keen to recommend you to others.
If you want to make the most out of NPS, connect with SPIN and let us use our magic wand to vanquish all your worries in the wink of an eye.
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