The business only incurs financial costs when doing marketing activities, and more is needed to do social media marketing and promotion. It would help if you tried to make the word-of-mouth marketing situation effective so that the customers of your business refer others. In this way, it will support the operation of the business in the long run.
As a marketer, your primary goal is to create a positive customer experience and foster customer loyalty. One way to achieve this is by implementing the Net Promoter Score (NPS) methodology. NPS is a management tool used to measure customer satisfaction and loyalty by asking, “How likely are you to recommend our product/service to a friend or colleague?” Respondents answer on a scale of 0-10, and the score is calculated by subtracting the percentage of detractors (0-6) from the percentage of promoters (9-10).
So, why is it important for every marketer to practice NPS?
Gain insights into customer experience: NPS provides valuable insights into the overall customer experience and how it can be improved. It helps identify what customers like about your product/service and what needs to be improved, allowing you to address issues and make changes accordingly.
Increase customer loyalty: The NPS score reflects the likelihood of customers recommending your product/service to others, which strongly indicates customer loyalty. By improving your NPS score, you can increase customer loyalty and retention.
Benchmark against competitors: NPS measures your customer satisfaction and provides a benchmark against competitors in your industry. This allows you to see where your competition stands and make necessary improvements.
Here, the net promoter score should be a key performance indicator that measures how much customers can refer their business to others. A customer likes your business; if the perceived value is achieved, the name and success of the business, in the long run, need to be recommended by the customer to other acquaintances.
Your business’s NPS (Net Promoter Score) can be analyzed in general customer feedback and market research activities and should be used as a KPI of the business. How do you know your business when you ask for easy customer feedback? You can ask how much a 1-10 rating you would give and reanalyze the customer’s answer. Do you use the net promoter score in your business? Share your experiences. Build a marketing team that doesn’t have to look around.
