It has become all too common for B2B SaaS companies to survey their customers once a year through a moment-in-time customer relationship survey, with at least one section addressing the ultimate question of Net Promoter Score (NPS).
Assuming the results are positive, the company then proudly presents their board with the survey results compared to industry benchmarks and proceeds with the board meeting. “Let’s move on to how many new customers you acquired” is likely the next agenda item.
https://www.peoplemetrics.com/blog/saas-companies-implement-a-product-nps-program-in-5-simple-steps/
It’s easy to talk about the importance of customer input. You bring it up in a meeting, everyone nods in agreement, and you feel smart.
It’s another thing to actually invest time gathering and analyzing customer input. As important as this data is, the act of obtaining it is no different than any other business activity: you’ll need to show a return on the investment you put in.
Luckily, there are several metrics that you can easily connect with the insights you derive from customer feedback.
http://customerthink.com/5-ways-to-prove-the-roi-of-customer-feedback/
Running a business is no easy task. What distinguishes a successful business from an unsuccessful one? The answer is very simple. Businesses who have tasted success keep customers as their focal point. This revelation comes as no surprise since the different metrics that were used to calibrate success like revenue, customer retention, and churn narrates only bits and pieces of the entire story.
https://medium.com/survey-tips/voice-of-customer-tools-why-is-it-critical-to-your-business-a3844d905395/
Net Promoter Score (NPS) is a method to assess customer loyalty, and many businesses today consider it to be an important metric. But NPS is far more useful than just a number on a page. In fact, your NPS score is just the beginning. What truly matters is what you do with your NPS survey results. Once you’ve identified your Promoters, Passives, and Detractors, do you know how to follow up with them?
https://www.business2community.com/strategy/how-to-follow-up-with-nps-detractors-promoters-and-passives-02172684/
Are you responsible for measuring the progress in improving customer experience? If yes, I’m sure you needed to come up with a rationale on which metrics to choose for this: Is it an all ubiquitous Net Promoter Score (NPS), the traditional customer satisfaction CSAT, or a more recent invention Customer Effort Score (CES)?
Is one enough or should you implement several metrics? Does it actually matter? Here, we discuss the two arguments: Pro and against.
http://customerthink.com/does-it-matter-which-customer-experience-metric-you-choose-2/
I recently discussed the importance of getting Voice of the Customer (VOC) feedback and common methods, such as surveys, to understand customer perceptions and expectations across different touch points. To be effective and acquire actionable insights, questions must be designed with best practices applied. I also recommend a “test & learn” approach.
Writing and launching surveys has become a science and an art. I have seen cases where surveys have gone wrong because of undefined goals or wrong objectives. For example, if you consider the Net Promoter (NPS) question, you would not survey customers for the sole purpose of knowing IF they would recommend a company or its products. Instead, you should focus on understanding the reasons WHY customers would or would not refer. Also, you want to avoid asking leading questions that influence responder opinions, otherwise, you will not obtain “voice of the customer” feedback that is authentic and useful. While these are obvious tips, some things are not so clear like how much does survey question order matter?
http://customerthink.com/nps-survey-question-should-it-be-first-or-last/
We all know that one crucial factor for the success of a SaaS business is its cumulative revenue growth. While very often SaaS companies focus on revenue growth by means of customer acquisition only, retention and expansion revenue is also important for a sustained growth. In this context, SaaS businesses must consistently take measures to improve customer retention. The most sought-after and renowned metric to do so is the Net Promoter Score. This article discusses how to use NPS to grow SaaS businesses.
http://customerthink.com/using-nps-to-grow-a-saas-business/
The Net Promoter Score (NPS) measures how customers feel about a company, brand, product or service. The initial research in 2003 that led to the NPS metric asked customers a series of questions designed to elicit their feelings about the company. The researchers, Fred Reichheld of Bain & Company in collaboration with the company Satmetri, wanted to find a question that would correlate with real-world customer behaviors. For instance, for a company to grow, it needs customers who recommend the company to others; customers who become repeat buyers; customers who don’t constantly shop around for the best price. The researchers tested many questions with customers, trying to find the one question that would identify those most desirable and engaged customers.
https://www.business2community.com/customer-experience/how-important-is-it-to-measure-your-net-promoter-score-nps-02115530/
Does EasyJet do well in NPS? According to npsbenchmarks.com EasyJet ranks at a -16. Not good. This is far below the mainline carriers such as British Airways, Lufthansa, or other carriers In Europe. But when your point of comparison is US domestic providers they kick it out of the football arena (or at least through that net thing at the end of the field). Did they have a good day? Maybe. But based on my experience traveling both in the US and Europe, air travel in Europe is a dream compared to the United States.
According to the same site, all US providers are in the positive side of NPS with Southwest at 62, Jet Blue at 59, Delta at 41, United at 10, and American Airlines at 3. Would it be fair to conclude EasyJet has worse service than all the mainstream US providers? Based on NPS alone you might be tempted to say yes.
I would argue it is an unfair and unwise comparison. In fact, this is one of three fundamental reasons why cross-cultural comparisons of many attitudinal metrics (including NPS) are fraught with problems that make their comparison problematic.
http://customerthink.com/a-cx-no-no-cross-culture-nps-comparisons/
Customer experience, undeniably, is important in any business today. However, in a healthcare business, its importance is accentuated manifold. It would not be incorrect to say that no other industry sees a closer bond between the customer and the service provider than the healthcare industry. Further, because this industry associates with its customers in their most vulnerable times, it is critical to provide an experience beyond the medical care that will alleviate the concerns of the patient.
In terms of financial gains, a report by The Deloitte Center for Health Solutions has demonstrated that hospitals with high patient-reported experience scores have higher profitability. It has also shown that hospitals with better experience levels earn disproportionately more than they spend compared to those with lower ratings. All this reiterates that improving the patient experience is vital to a healthcare organization.
The Net Promoter Score is a world-renowned metric to measure customer experience. Quite a few healthcare providers today use NPS to measure and improve the patient experience. However, because NPS isn’t as widely used in healthcare, there aren’t many guidebooks or best practices available for use of NPS in this sector. Here are a few pointers to use NPS more effectively in healthcare.
http://customerthink.com/10-simple-tips-to-use-nps-more-effectively-in-healthcare/
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