How to Make the Most Out of NPS Survey Results
Customer feedback. A strong foundation of any successful business. But one of the major mistakes most businesses make is that they do not pay much attention to the customer feedback implementation process.
With the help of right SugarCRM Survey Modules, you can implement a proper automated feedback process. Based on the completion of CRM events, your tailor-made surveys can be sent to those customers. While creating a survey, make sure they are not too long and are on point for a higher response rate.
If you are scratching your head how to decide how to make a short and interactive survey, a single NPS survey question can be your savior. Because it works on numbers, it gives you a clear picture of how many of your customers are detractors, passives or promoters.
Numbers from Temkin research says that promoters are 4.2 times more likely to buy again, 5.6 times likely to let go of the company’s mistake, and 7.2 times likely to try new offerings. However, it is equally important to put your efforts towards detractors and passives.
Here’s how.
First, Calculate your NPS Score
Subtract the percentage of detractors from the promoters. For instance, an NPS survey shows 50% of your customers are promoters, and 20% are detractors. Your NPS score is 30 (50%-20% = 30).
What is a good Net Promoter Score?
NPS scores range between -100 and +100. A score above 0 is a good NPS score; meaning the majority of your customers are loyal. Additionally, 50+ is an excellent score, and 70+is the “world-class” score. If your score is below 0, the majority of your customers are your critics. It’s time to improve customer service. You need to understand their pain points and improve their overall experience.
Here are some NPS average scores, industry-wise:
- Healthcare: 62
- Professional Services: 58
- Retail: 54
- Hospitality, Travel, Restaurants: 53
- Manufacturing: 51
- Automotive & Transportation: 49
- Financial Services: 46
- Construction & Engineering: 45
- Consumer Services: 42
- Insurance: 42
- IT & Software: 41
- Banking: 37
- Media: 34
- IT Services: 33
- Telecommunications: 24
Drive Business with NPS Score
Follow up with Detractors:
“If you don’t have critics, you’ll likely have no success” – Malcolm X
Create a list. Send them a personalized email addressing their customer experience. Offer them a gift or a coupon code as a gesture of appreciation. To track your progress, make changes per their suggestions. Once you complete a sprint on that, send them a new NPS survey. Compare new results to filter out the new promoters.
Leverage Promoters to Generate More Sales:
According to statistics, referral programs are more effective to generate new business. You have a customer base who are happy to recommend your brand to others. Once you identify your promoters, make a referral plan.
As they are already happy with your products/services, they will be more than happy to refer you when encouraged for referrals. Plus, it’s a good opportunity for you to ask them to review your product/services. You may also ask if they’ll be okay with you writing their case study.
Activate the Passives:
They are not detractors; they are right here but didn’t receive services in the way they wanted. Reach out to them again. Ask for more specific information. Maybe they haven’t given you enough information, as they thought nobody would care. Reaching out again to such customers will show that you have interest in serving them. You are there for help.
If they reply to you, take it seriously and make the necessary changes. Educate them on how to use your products and notify them about future plans. If you approach them with a follow-up email, it encourages them to stay in touch with you. They might become your new promoters.
Write Pointed Emails
For Detractors: While following up with detractors, state your point with subtle language to get a reply.
Here’s an example:
Thanks for responding to our survey. We’re sorry to hear that you wouldn’t recommend us, but would love to learn more about what we can do to improve. Your reply is important to us.
For Passives: Appreciation is important. Ask for suggestions to improve your services and products even further.
Example: Hi Amy! Thank you for your response – ee take feedback seriously, and your suggestions will help us improve our services. If you have a minute, we’d love to hear more from you.
For Promoters: They are your advocates. They would love to hear from you! It is the best opportunity to educate them on how they can refer your services to friends and family and be rewarded in return.
For example:
You could earn money by referring your friends and family. Every time someone buys by using your invite, you’ll earn $X!
Here’s how you can send them emails to write reviews for you:
We’re so happy to hear that you’d recommend us to others. We’d love a public review on our profile to help other customers – we’re giving away a month of free services to the first 15 customers who review us this month. Act soon!
Final Thoughts
NPS alone cannot help you grow to billions in revenue. It’s a consistent process which helps you identify your pain points and gives you a chance to improve. There are SugarCRM survey plugins available on the store with NPS survey feature. With such a module, you can provide the best user experience to grow your business in numbers, customers, and loyalty.