Since the 90s, the internet has cemented itself as an integral portal in the lives of all consumers. Alongside it, other technologies and platforms like smartphones, Netflix, Spotify, and Uber have been shaking up the business landscape drastically.
In the last decade, as we’ve watched the world around us adapt to the modern conveniences that these innovations enable, we have seen a shift in the dynamic between businesses and their customers. It doesn’t seem all that long ago that Ford made the claim “My customers can have whatever colour car they like, as long as it’s black.” The power has been dispersed and today, what your customer thinks and feels about your brand is more important than ever before.
How we measure customer satisfaction has also had to evolve to keep up with the changing dynamic in the market so businesses are able to find the balance between what their customers want, and what is most profitable. Tools to measure customer feedback such as mystery shoppers, customer satisfaction surveys, and Net Promoter Scores (NPS) have been developed to make the most of the technology we have available, but these methods have had to adapt to go further.
NPS has been hugely popular and considered reliable for companies in determining the loyalty of a business's customer relationships and we, along with our clients, have proven the direct correlation between increased NPS scores and revenue growth. But times continue to change, and standard NPS has had to get smarter.
Now, there’s a new tool in town – Smart NPS. But what can Smart NPS offer you that traditional NPS measurements can’t? We break it down for you in this free ebook available for download, but first let’s look at the basic rundown of how Smart NPS is changing the game.
Today it’s important that businesses not only recognise how their customers feel about them, but also prioritise working towards a better overall customer experience. Originally NPS would ask one blanket question: ‘How likely would you be to recommend this product/service to your friends/family?’. Followed by the open ended question “What did you like or what could be improved?” In order to understand the needs of customers in today’s market, smart NPS takes it a step further by figuring out why.
In today’s competitive climate, we need something that dives deep. Smart NPS goes that extra mile to understand why your customers feel the way they do about your brand.
While traditional NPS is easy to measure and produces a number you can track and open commentary on, it doesn’t narrow in on how your customer really feels based on their rating and why.
Finding out why a customer responds the way they do can enhance the data you have on your customers, but it takes more to enhance the customer experience.
Rather than simply asking why a customer gave the rating they did, promoting a generic response that isn’t always as revealing as you’d like, Smart NPS requests insights to action. For example, instead of simply asking ‘Why did you give that answer?’, Smart NPS could ask someone who gave a rating of 7/10, ‘Can you tell us what would have to change for you to give us a higher score next time?’. Or if they gave you a 10/10, it could ask, ‘Tell us what wowed you this time?’, prompting any range of insightful and actionable responses from customers.
Using the insights
Now you have engaged with your customer, and narrowed in on what they think you could be doing better, it’s time to manage that feedback and use it to your advantage.
That’s where Smart NPS comes in.
Smart NPS has the capability to take responses and automatically direct them towards the most appropriate next course of action. Rather than having feedback building up in a database to be analysed by a manager when they find the time, Smart NPS is activated immediately in the business, providing insights to improve upon in real time. Customers who rate the experience favourably can be directed through to sites such as Tripadvisor, Google reviews etc. to leave a review and build your online reputation. Those who have had an issue can be directed to managers in real-time, with managers receiving an instant alert to solve their issue.
A new age of customer feedback
Rather than being limited to a simple measure of a customer’s experience beyond your control, Smart NPS is a fluid figure with specific data that can be used to initiate change in the customer experience your business offers. There’s a new generation of feedback, and it’s providing more insights and actionable data than ever available before.
Download our free guide to engaging with customer feedback below for a deeper look at how your business can make the most of customer feedback, and turn it into a tangible opportunity for development.