3 Solutions to Improve Your Company’s Net Promoter Score
Are you curious about how your clients rate your business? The net promoter score is the best indicator to discover your clients’ satisfaction.
Once you know your company’s score, you should measure it against your industry average. Believe it or not, the number is closer to zero in some industries. Some examples include internet service (2) and cable / satellite television service (7).
Is that the best goal for your company? Perhaps, it is the best goal if your score is below the industry average. In some cases, your competitors may exceed the industry average.
For example, Costco is an international brand that is popular for selling bulk food products and other non-grocery items. Costco represents two retail industries, specialty store and grocery.
The grocery industry has an average score of 39. The specialty store has an average score of 58. Yet, Costco exceeds both industry averages with a net promoter score of 74.
Another similar example is the company, USAA. The Fortune 500 company sells financial services, including auto insurance, banking, and home insurance.
By comparing the three industries, the banking industry has the lowest average score (35) and the auto insurance industry has the highest average score (44). Yet, USAA exceeds all three industry averages with a net promoter score of 73.
So, how do companies improve their score? Below are three solutions to improve a company’s net promoter score.
Loop closing is to resolve the problem that caused the client to post a low rating. There are two ways to lock the loop.
The external loop closing seeks to prioritize the client’s problem by solving it in a friendly and fast way. An example is an attendant who contacts the detractor to address the situation quickly.
The internal loop closing allows teams on the front line to understand and evaluate their own performance. It happens when the client contacts the company and the team seeks a solution to prevent the problem from occurring again.
Help Your Detractors
First, your team needs to act fast! Get in touch with this client as soon as possible and listen. Encourage the client to discuss all of their opinions about the company. Maybe the situation has reached this level because it never got enough attention.
Now, think about the best solution. Maybe you need the customer success team to assist the client with more training. If you help your detractors, they may change their rating and become one of your promoters.
Inspire Your Promoters
According to the Nielsen’s Global Trust Report on Advertising, 83% of respondents said they rely on recommendations from family and friends more than any other form of advertising.
Inspire your promoters to be your best evangelists through rewards or promotions. When you can leverage the enthusiasm of your promoters to generate awareness, you will be on track in improving the company’s net promoter score.
Did you know that Zoox Smart Wi-Fi has the net promoter score integrated into its platform?