The Net Promoter® Score (NPS®) has historically been a consumer satisfaction benchmark that some organizations have adapted into a metric for measuring customer loyalty. Many in the Net Promoter® Score community have discovered that the data they are receiving through using the NPS® methodology gives inadequate insight on their customer relationships. While the NPS® is a good indicator of a customer’s perception towards your business, it does not always provide the actionable insight needed to plan the direction of your organization’s customer experience strategy.
Dennis Chapman Sr., President and Founder of The Chapman Group (TCG) discusses the shortcomings of the NPS® methodology and how TCG’s LoyaltyProfessional™ business unit fills in the gaps of information that help an organization align customer experience strategies and tactics with the voice of the customer that they are receiving through customer surveys.
Learn where the NPS® falls short as a metric for surveying key accounts in uncovering actions that will influence and drive customer experience strategies, and how utilizing additional customer loyalty metrics can take your voice of the customer (VoC) program to whole new level of effectiveness and success.
Listen to the entire podcast or use the table of contents below:
0:00 | Introduction
01:01 | Corporate Executive Board study on how Loyalty Impacts Revenue
02:25 | The Problem Facing Net Promoter® Score Community (NPS Community)
03:00 | NPS® Q&A: On a scale of 1-10 how likely are you to recommend Net Promoter® Score as an enterprise customer feedback metric?
03:35 | NPS® Q&A: Why should suppliers go beyond the Net Promoter® Score metric to get customer feedback?
04:10 | NPS® Q&A: Does NPS® Provide data indicating the probability of a customer defecting?
04:52 | NPS® Q&A: Does the Net Promoter® Score Indicate a customer’s dependency on the supplier?
05:58 | NPS® Q&A: Why do companies still use and rely on the NPS® metric for customer feedback?
07:15 | NPS® Q&A: How does Net Promoter® Score impact the account planning process?
08:50 | NPS® Q&A: What other feedback data points are essential to the account planning process?
10:58 | NPS® Q&A: Is Net Promoter® Score an adequate tool for business-to-business customer experience measurement?
12:08 NPS® Q&A | Why should businesses consider moving beyond the Net Promoter® Score metric?
13:24 | Net Promoter® Score Discussion Summary