SICON understands the best way for any business to grow is through a combination of customer referrals, references and a strong understanding of operational performance. By integrating the Net Promoter score (NPS) system of customer feedback into your organization, SICON CRM has developed a solution that fulfills all these growth requirements. SICON professionals are now able to use NPS data to help your business determine which of your customers have the potential to be your best salespeople, as well as learn which areas of your operational performance are working well and which areas need to be improved.
Net Promoter Score System
The Net Promoter score method of customer feedback was developed by Bain & Company partner Fred Reichheld in 2003 and since then has taken over as today’s standard for measuring customer loyalty. In his most recent book The Ultimate Question 2.0, Reichheld evolved Net Promoter score into a management system, turning the once simple metric into an entire way of doing business. So far, thousands of innovative companies have adopted the NPS methodology and research has shown that NPS leaders on average grow at more than twice the rate of competitors. If you wish to gain a better understanding of the Net Promoter score system before learning how SICON CRM can use it to help grow your business, visit the official Bain & Company website by clicking here
The NPS system begins by using a metric to divide your customers into three segments based on their answer to the question – “on a scale of 0-10, how likely would you be to recommend [your business] to a friend or colleague?” The three segments are Detractors, Passives & Promoters. Once it is determined which segment a customer falls into, the simple follow-up question of “why did you choose that number?” will produce the actionable information your business needs to be able to learn and improve.
Why Net Promoter Score Works
Determining loyalty goes way beyond just measuring how often customers purchase from your business. If a customer is truly loyal, the most natural thing for them to do is recommend your business to someone they care about. However, in order for customers to put their own reputation on the line, the following two conditions must be fulfilled:
This is why the “would recommend” question is so effective at producing actionable information your business can use. Not only does it test the rational dimension of customer experience but the emotional dimension as well.
How Net Promoter Score Benefits your Business
SICON CRM understands that different businesses need different forms of information to be able to continually grow. Keeping that in mind, one of the major benefits of the Net Promoter score system is that the data collected generates three distinct types of actionable information you can use to exponentially grow your business:
The SICON CRM Net Promoter Score Service
By completing a large number of our own NPS surveys, SICON professionals bring first hand experience when developing NPS solutions. Knowledgeable SICON professionals will take over the entire NPS process and work to produce actionable information you can use to improve customer loyalty. The SICON NPS solution is as follows:
- Step 1: Send us a list of the key Clients you would like us to call, along with their phone numbers and email addresses.
- Step 2: SICON professionals will build customized phone scripts and make the calls to your Clients, recording all the information in our database.
- Step 3: From the recorded data, SICON will periodically send you reports you can use to make changes to your processes, improving your overall customer loyalty.
Net Promoter Score Reports
This report provides you with a graphic illustration of your three NPS segments over a specified period of time. From here you can quickly weigh all three segments against each other to determine where the majority of your customers fall.
This report portrays a trend line of your monthly NPS scores over a given period of time. This allows you to track your NPS scores to make sure they are increasing from month to month and make changes if that’s not the case.
From past experience, professionals at SICON CRM found some customers refused to complete an NPS survey. Based on that knowledge, SICON built an additional NPS report to display a list of all the customers who elected not to take the survey.
If utilizing Net Promoter score to grow your business is something that interests your company, simply fill out the contact us form and a SICON professional will follow up with you shortly.