Discover how the Net Promoter Score can revolutionize your business and increase customer satisfaction.
- Influencer marketing is a growing strategy, with an estimated value of over $16 billion by 2022.- The Net Promoter Score (NPS) is a widely used metric that measures customer satisfaction and loyalty.- NPS is important for businesses to assess customer service quality, fix issues, and increase revenue through referrals and upsells.- Strategies to improve NPS include improving customer experience, reaching out to detractors, polishing customer support, leveraging promoters, and keeping a pulse on NPS.
The human species are a chatty bunch. We get a lot of our information from each other and if it's coming from people we trust we rarely question the accuracy of the information. Hearsay has a huge effect in our lives. That is why word-of-mouth is considered an actual marketing strategy in this day and age.
In fact influencer marketing is estimated to surpass $16B by the end of 2022. It works because it's one thing to hear about a product from a billboard and it's another to hear your favorite skin care influencer recommend it after using and approving it! However, measuring what people are saying about your company isn't the easiest of tasks. Or is it?
What Is The Net Promoter Score (NPS)?
Net promoter score is a widely used market research metric that typically takes the form of a survey question asking customers to rate their likelihood of recommending a company, product, or a service to a friend or colleague. Customers are usually asked to rate their likelihood of recommendation from 0 to 10 and, depending on their rating, they are put under 3 categories to establish an NPS score.
If a customer gives a rating of 9-10 they are considered a promoter and are typically loyal and enthusiastic customers. Those that rate 7-8 are considered passives and are satisfied but not impressed with your services. Anywhere from 6-0 are considered detractors. These are unhappy customers who are unlikely to buy from you again, and may even discourage others from buying from you. NPS is then calculated by subtracting the percentage of Detractors from the percentage of Promoters.
As Net Promoter Scores vary greatly between industries, when making any interpretations it is important to draw the baseline according to your industry's average NPS.
Why Is The Net Promoter Score Important?
Businesses can assess their customer service quality using the net promoter score, especially in comparison to their competitors. Businesses can utilize their net promoter score to fix any issues, enhance customer satisfaction, track trends in customer loyalty, and increase income through referrals and upsells. It is a super metric for customer satisfaction. It can be utilized to improve customer experience and therefore customer retention driving repeat purchases and increasing revenue.
How To Improve Your Net Promoter Score?
Having established what a useful and important metric NPS is, let's look at some strategies you can use to improve your NPS.
1. Improve Your Customer Experience
NPS shows you how happy your customers are. If you have a lower than industry average NPS, you might be providing your customers with a subpar customer experience. Complementing your NPS survey with questions that can help you determine where you lack and improving on these areas can help you improve your customer experience and in return your Net Promoter Score.
2. Reach Out To Detractors
Converting detractors can work miracles. Detractors are the people that can show you where your business is lacking. Taking tangible actions on the feedback of detractors and contacting them on their concerns and issues with the intent of providing solutions can help convert your detractors to promoters in no time.
3. Polish Your Customer Support
Providing your customers with fast and effective customer support is one of the top contributors of customer satisfaction. Implementing a live chat system that allows your customers to get replies instantly is a sure way of increasing your customer satisfaction. Customers are satisfied with your service when they receive prompt and effective assistance.
4. Leverage Promoters
This tip is all about what we said in the beginning of this article. Word-of-mouth is an incredible marketing strategy to encourage new business. You can leverage promoters by including testimonials from your promoters on your socials and website, offering them discounts to tag a friend along, showing them you are thankful for their business and so much more. They are also a great way of determining what you are doing right and what differentiates you from your competitors. Promoters should be one of your main focuses, more than detractors, as most of your business comes from your promoters.
5. Always Keep A Pulse On Your NPS
Tracking the development of your NPS periodically and improving on the customer feedback will bring you long term benefits. Failing to do so can have detrimental effects in your customer care efforts as you will be blind to the pain and satisfaction points of your customers.
How BHuman.ai Helps Increase Your Net Promoter Score?
Net promoter score is all about customer satisfaction and customer loyalty, and that is exactly where BHuman.ai comes into play. With our platform's ability to create personalized videos at scale, you can communicate with your customers in the most human way possible. You can make all of your customers feel special and cared for with the effort and time it would take to care for just one.
With BHuman.ai you can contact your customers personally for your NPS survey, address each and every one of your customers by name to explain your products and services, thank them for their purchase, ask for feedback, provide customer support, offer promotions, and even wish them a happy birthday… The use cases are only limited by your imagination!
Sign up for our platform today to utilize personalization, stop missing out on the secret recipe for customer satisfaction and loyalty!
To learn more about the other ways you can utilize BHuman.ai for your business visit our site at BHuman.ai. You can also contact us at firstname.lastname@example.org and we will be happy to inspire you in all the ways you can use BHuman.ai to improve your net promoter score.