How Customer Feedback (and The Net Promoter Score) Can Bring "Gold" To Your Business

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The slide show from Terry "Starbucker" St. Marie's presentation at SOBCon Chicago on May 5, 2012 on the value of customer feedback

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How Customer Feedback (and The Net Promoter Score) Can Bring "Gold" To Your Business

  1. “If you can’t measure it, you can’t manage it”
  2. The Result of Measuring?
  3. 4 Keys To Great Customer Feedback• Do it consistently• Do it personally• Keep it short• Ask the right questions
  4. 5 Questions** and recording, sorting, trending, and analyzing…
  5. The Raw Materials of the Right Questions• The experience with the product or service• The experience with the people behind the product or service• The overall brand and company experience (through the Ultimate Question)• Feedback that would make the experience better• Identification of things of less importance to the customer
  6. The Ultimate Question“On a scale of 0 to 10, how likely would you be to recommend us to a friend or relative”
  7. What Do The Answers Tell You?• 0-6 “Detractors” – People very likely to be out there saying bad things about you• 7-8 “Neutrals” – Neither ready to bail or ready to leap for joy• 9-10 “Promoters” – Those literally telling you they are ready to shout to the rooftops for you (the evangelists)
  8. The Metric: Net Promoter Score• Popularized by Fred Reichheld and his book, “The Ultimate Question” (www.netpromoter.com)• Major point: The customer satisfaction score with the highest correlation to profit• Has had wide adoption by many “customer centric” organizations (Apple, USAA, American Express, Enterprise Rent-A-Car)• Cited by Enterprise as the #1 success factor for their climb to become the top rental car company in the US
  9. Calculating The Net Promoter Score• The Score Calculation: – Percentage of 9-10s less the percentage of 0-6s • Example: 100 calls – 60 (60%) 9-10 – 25 (25%) 7-8 – 15 (15%) 0-6 • 60% minus 15% = 45% NPS Score• What’s a “good” score? – Anything greater than zero is OK, but north of 50% means your customer service is making you $$$, called “Good Profits” by Reichheld
  10. Questions About The Questions• Who do you ask?• When do you ask?• Who will do the asking?• How will you respond?• How will you use the data?
  11. And, The BIG Bonus…..“Thank you for your business”

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