With the advent of the Net Promoter Score®, capturing relevant feedback has never been easier. However, since the market landscape evolved – shifting the focus from survey data towards a more complex customer satisfaction management approach – the more advanced NPS2 paved its way.
In case you are not familiar with NPS2, we will further explore this next generation methodology, its main concepts and the factors that determined such Net Promoter Score evolution.
There’s much more to an NPS® survey than just the quantitative rating customers give to your business. You can keep track of your score and its changes, but it’s the qualitative feedback that gives you the “why” behind it, bringing the voice of the customer to the front.
Ask the right NPS question to get a constant pulse on your customer satisfaction and you will gain an accurate understanding of how your company, product or service is perceived. Embark on the process by determining the appropriate Net Promoter Score® survey template for your campaign, and the impact will be decisive.
Satisfied clients don’t just help your company generate more leads and acquire more business; they also enable you to increase the customer lifetime value, reduce your churn rate and finally bring in more revenue.
How likely are your customers to recommend you to their friends, colleagues and work acquaintances? Wouldn’t it be convenient if there was a metric that you could use to assess that?
In the increasingly crowded market, each NPS® product strives to become noticeable by means of distinct features that makes it competitive and visible. In order to choose the best NPS software that properly fits your business, it’s essential to first become familiar with what most NPS tools have to offer.
From automating various tasks to integrating with other systems, find out below what you should pay attention to when deciding on the appropriate customer satisfaction survey software for your business, what are the benefits of a specialized service along with the price differences between existing products.
Exit surveys — surveys you send to customers when they cancel their subscription or abstain from upgrade after a free trial, ceasing to use your service — have grown massively in popularity over the last few years, as an increasing number of businesses realize the tremendous value of feedback from departing customers.
Done right, they can provide valuable insights into why customers quit using your product giving you a grasp of the customer experience and the issues they dealt with along the way. Used properly, Net Promoter Score surveys can serve as highly effective tools for learning more about the perception of your product, service or business as a whole, letting you use the unlocked data to drive improvements.
“It’s not the score that matters; it’s what you do with it to make promoters that really counts.”
Fred Reichheld, Bain & Company
The quote pretty much sums up the whole purpose of adopting Net Promoter Score® – using the captured insights to close the feedback loop.
Customer feedback loop depicts the process of continuous enhancement based on the customers’ insights about the business they interact with. It is one of the most efficient ways to seek for improvements in accordance with clients’ needs. Listening to what they have to say is indispensable since the sought answers lie at the core of customer sentiment.
Just like it’s difficult to drive to a new destination without a definite plan for how to get there, trying to build, launch and market a new product without a clear product roadmap guiding the development process is an exercise in vain.
A product roadmap is a strategic plan or statement of intent matching the vision and steps involved in a product’s development. A well-defined and goal-oriented roadmap allows the team to be on the same page and act in the same direction. In addition, it offers both executives and users a better understanding of the product to be developed, the features to be included and its timeline.
The reason these types of emails are called “lifecycle emails” instead of simply “emails” is that they’re designed and crafted to achieve a specific objective at a specific point in the customer’s lifecycle.
Search online for information on increasing your SaaS products’ conversion rate and you’ll find page after page of techniques designed to help you convert more of your visitors into trial users and paying customers.
Often, these tactics are successful — when implemented effectively, they can boost your conversion rate and increase your visitor-to-trial-user conversion rate. But by solving one problem, it’s quite easy to create another: customers who sign up for your product without really needing it.
While many people think of Net Promoter Score® surveys as revolving around a simple zero to 10 rating scale, the reality is that there are two sides to NPS® — the quantitative (the rating) and the qualitative side (the feedback).
Just like few things are more frustrating for the average person than sending an email without getting a response, few things are as discouraging for a customer satisfaction expert as sending an NPS survey and receiving a score without any qualitative feedback.