Net Promoter: Your Guide to a Winning Marketing Strategy
In an age where information is so accessible, it's very easy for customers to find what they want, when they want it. It's also just as easy for them to share with their friends and colleagues about the service, the products or interactions they receive.
While its true that you can't please everyone, it's even more true that you should be pleasing the right people. If you don't have an idea of what your customers are saying about you (or what they're not saying, for that matter) then you're missing a vital step in capturing the hearts of your consumers. I'm here to tell you there is light and the end of this tunnel - and it rests within the Propensity to Recommend.
There are many things that can be said about customer satisfaction, but there is very little that "satisfied" customers do for a brand. A customer can be very satisfied with your company, but that only tells you one thing: they feel like your doing your job. Does that translate into long term success for your company? Not likely. Studies show that companies tracking how recommendable they are continuoulsy outperfom their competitors by 2x - 3x in revenue. No joke - just ask the guys over at Satmetrix and the hundreds of companies around the word using Net Promoter to drive loyalty behind their mission. Brand loyalty means more customers building community around your products/services and urging their friends and colleagues to try it out for themselves. That's when your customers begin to bring more customers to you, decreasing your efforts and increasing your profit.
And while it may seem as easy as tracking a number from 0 - 10 thoughout your customer base, it's no picnic sorting out the precise way to implement, collect and analyse the data that drives referrals to your business. Have you ever heard: "the best from of advertising is Word of Mouth"? Well, this is the science behind that theory - and guess what - it works. At Switch Marketing, we use the Net Promoter Score® for our clients to specifically meet their needs as a B2C or B2B based business. The beauty of weaving a reliable metric run by certified professionals into the services we render - it gives us and our clients the most valuable information very quickly and in a comprhensive package.
Over the folowing weeks, I'll be breaking down the Propensity to Recommend metric for all it's worth. Then you can decide for yourself if it's a method you need for your business. I'm sure the conclusion will be your company harnessing the power of Word of Mouth to strategically enhance your customer experience and generously increase your bottom line. We'd love to help you do just that.