Thanksgiving is coming in fast, but even so, at ActionCOACH RGV, we are thankful for the excellent people we get to meet and support every day. We truly believe that gratitude is contagious, and when you’ve let your customers know how grateful you are for their support, that can build up feelings of loyalty to your brand.
However, it can be difficult to gauge how your customers feel, and even more difficult to use that information to improve that experience. While we can thank those that reached out to us during our 1 of the 10 campaigns--which we decided to extend to another 10 businesses, by the way--we need to have a solid way to calculate that satisfaction, and thankfully, business owners can do so effectively with one simple question.
Net Promoter is a tool that businesses can use to monitor their customers’ satisfaction. Net Promoter Scores, or NPSs, predict the growth of your business and calculate customer experience on a 0 to 10 scale. NPSs have become integral to measuring and managing customer experience for businesses around the globe. These scores are calculated through customer responses which are meant to gauge their happiness with your product or service.
An NPS is calculated using your customers’ responses to a simple question: how likely are you to recommend this product, brand, or service to a friend? The answer to this question is given as a number between 0 and 10. Scores are grouped into ranges that show the satisfaction level of respondents:
The NPS is calculated by finding what percentage of your customers fall into each group, and subtracting your detractors from your promoters. With this in mind, NPS can range anywhere from -100 to 100: 100 if all of your customers are promoters, to -100 if every customer is a detractor. The higher your NPS, the happier your customers are, and the rosier your business growth potential looks.
To put this into perspective, consider our NPS. Because of the hard work we put in to supporting business owners, our Texas branch scores at 87, where the industry average is actually around 49. In fact, our Texas branch scores just two points higher than our national score, which is set to 85. It truly warms our hearts that our clients believe in the work that we do, and for that, we are eternally grateful.
NPSs are a pretty simple way for businesses to formulate a picture of their customer experience, but many fail to utilize this resource to its full potential. Check out these underutilized tips and tricks for using NPS surveys to improve your business and stimulate growth:
In general, you want to survey your new customers, your 30 day and 60 day customers, and those who decide to go elsewhere. If you have promoters, they should be surveyed at least once per year to make sure they are still satisfied and to garner new insights.
Take Action and build up your Net Promoter Score, your customer loyalty, and customer satisfaction by siding with ActionCOACH RGV today!
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