The Net Promoter Score (NPS) can be a great tool to improve the customer satisfaction of your business. It can also help to expand your customer base. NPS is a simple process, but the effects can have a significant impact on your business. Let's look at the advantages of NPS.
1. The NPS Process Is Customer Friendly
How likely is it you would recommend us to a friend or colleague? Determining the NPS requires only asking the single question above. When you ask it, the customer responds with a range from 0 (not at all) to 10 (extremely likely.) It requires minimal effort on their part. By asking only a single question, the customer is more likely to take the time to give an answer. The last thing you want to do is to burden your customers with an exhaustive survey. Since they are not, the customer will provide accurate information and still leave in a good mood.
2. NPS Provides a Target for Focusing Customer Relations Efforts
NPS gives a clear picture of how customers view your products and services. People tend to be conservative when it comes to making a recommendation. By asking this question, you can get a good measure of the customer's satisfaction. Once you have the measurement in place, it gives you a clear goal to focus on while you try to raise it. The goal should be to move all the detractors (those with a score of 0 to 6) to a passive level (7 or 8.) And you should, in turn, move all the passives you can to promoters (9 or 10.) Promoters can do incredible things for your business when it comes to getting the word out.
3. NPS Can Reduce the Cost of Customer Acquisition
The best way of increasing a customer base is by word of mouth. Since the NPS is a direct measure of how likely this is to happen, it gives you a very focused metric on which to improve. You will want to nurture low scoring customers. Doing this will increase the likelihood of future product and service recommendations. Taking care of low scoring customers will also help to keep them coming back for more business. Every saved customer relationship is one you don't have to pay to replace later. This can have a positive impact your bottom line. The NPS can be a simple yet powerful tool in customer relations for your business.
Contact us today for more information on how Accupoint Software can help streamline your customer bench-marking process.
Service supply organizations are always seeking to optimize, by improving customer relationships for greater revenue and cost reductions. The constant demands, adjustments and upkeep of customers requires a more formalized way to compare and service them. That is why customer benchmarking is so key. In today’s post, we will examine a few factors that demonstrate the power and influence of customer benchmarking.
First, customer benchmarking demonstrates the costs and services that each customer is accumulating. It logs every customer interaction and the services provided to them, whether it is in the initial contract or not. This helps to determine the total cost for delivering your product or service to the customer.
Second, customer benchmarking helps to determine the true price of your product or service. A comprehensive software solution can isolate the amount of product and the price that is actually received from the customer. This helps to clarify the true value of the customer when compared to the cost of services.
Finally, you use benchmarking tools to determine the satisfaction and feedback of the customer. The tool automatically sends a survey to key stakeholders at the client company. The survey results are tabulated and provide feedback to provide continual improvement efforts. The data helps managers at your company understand how the customer truly feels about your performance. It also compares the feedback across all the customers to get a true sense of the most loyal and the least loyal accounts.
Accupoint’s solution family has helped many firms benchmark customers, improve satisfaction and meet compliance standards, leading to greater revenue and less costs. For more information about how Accupoint Software can help streamline the management of your customer benchmarking program, please contact us today.
Happy and satisfied customers are the lifeblood of your business. Everybody knows that, but did you know that customer satisfaction should be built into your quality management system (QMS).
When you think about it, quality performance is first and foremost about meeting the needs and expectations of the customer. Therefore, we need to expand our definition of quality management to include customer satisfaction as a means of improving performance over the long term.
The following chart helps to illustrate the concept:
A comprehensive QMS should include components for monitoring and measuring customer feedback. It should contain effective procedures for the receipt, logging, evaluation, investigation & reporting of all issues raised by the customer. The results of this analysis should then be used as a driver for designing and implementing improvements to your system.
For more information on integrating customer satisfaction into your Quality management program, contact the Accupoint team toll-free at 800-563-6250 or visit us on the web at www.accupointsoftware.com