Written by Steve Schiera, IMEC Regional Manager
Net Promoter Score (NPS) can be a valuable tool for measuring customer satisfaction, increasing customer lifetime value and reducing customer turnover. The happier your customers are the more referrals you will get and the more successful and profitable your business will be.
Because loyalty is so important to profitable growth, measuring and managing it makes good sense. The saying “What gets measured gets done” is extremely relevant with customer satisfaction. Many organizations have no method to obtain this critical information and many existing customer survey approaches have not proven to be very effective. Their complexity makes it difficult to get responses from your customers and they often generate flawed results.
By substituting a single question for the complex black box of the typical customer satisfaction survey, companies can actually put results to use and focus on the task of stimulating growth.