The Net Promoter Score is a simple research technique that comes as close as you can get to a silver bullet.
CFM has used this clever technique to assess customer views on products, services and even professional association memberships. Our clients like the Net Promoter Score because it works. Here is what they say about the Net Promoter Score:
• It is easy to understand;
• Provides insights on what customers are thinking and saying about products and services;
• Provides an excellent measurement of customer satisfaction;
• Helps assess the most important product and brand characteristics;
• Enables managers to focus on operational deficiencies;
• Highlights themes that marketing, advertising and PR can use for promotion; and
• Enables the entire organization to manage to strengths.
Created by the consulting firm Bain and Associates (Read: The Ultimate Question by Fred Reichheld), the Net Promoter Score measures how likely customers are to recommend a product or service using a zero to 10 scale.
By combining a closed-ended scoring question with follow-up open-ended questions, CFM can identify what is encouraging people to recommend a product and determine hesitations, concerns and complaints.
To get even richer information, we follow up with customer focus groups (live or online) to determine why they would recommend the product or service and identify product attributes they like or would change.
Some managers (usually not marketing-types) ask why they should care about the Net Promoter Score? Reasons include:
• Using the score to set employee bonuses;
• Providing a simple baseline of customer opinions. Organizations that manage with Net Promoter Score results can measure changes in opinions;
• Benchmarking information to assure consistency of services and products across business lines and geographic areas;
• Customer recommendations and referrals are among the top ways new customers choose a product or service. If current customers don’t recommend your products, your are missing an inexpensive and effective promotion tool, plus you may have significant issues with your product or service; and
• Engaging customers in meaningful ways. Engaged customers are loyal customers.
Organizations that trust customers and want to be responsive to their needs should use the Net Promoter Score. Results can help the entire organization, not just marketing.