Monetizing NPS®: CustomerGauge CEO Joins Shep Hyken's Amazing Business Radio
by Cvetilena Gocheva
by Cvetilena Gocheva
Have you ever wondered how to make money by understanding the numbers behind a Net Promoter® Score survey? Or how you can get management buy-in on the benefits of investing in customer retention?
In the interview, Shep and Adam discuss some of the findings from CustomerGauge’s 2016 NPS Benchmark Survey, available in NPSBenchmarks.com Resources as well. Our 2016 NPS Benchmarks survey found that the NPS industry still has a long way to go to leverage the benefits of a Net Promoter System. Adam Dorrell shared with Shep that CustomerGauge's research found that a staggering 40% of survey respondents were not sure how much business they retain each year. This finding alone emphasized the need for NPS practitioners to invest more time in familiarising themselves with best practices with NPS and retention.
What followed next was a discussion that highlighted CustomerGauge's groundbreaking approach to "Monetize the Net Promoter Score" and take the NPS system from pure "researchism" to the most valuable business metric. Monetized NPS helps companies to not only keep track of their retention rate, but also maximize the value of their existing customer base.
Adam Dorrell stressed that this doesn’t just happen by chance. NPS is an actionable metric, which means that companies need to act on customer feedback in a timely manner—within 48 hours to 2 weeks according to the research from our latest white paper.
Find out the “why” behind your NPS score. Your promoters are gold and will share information that can help create an even better customer experience. - Adam Dorrell, CEO CustomerGauge
Click the link here to listen to the truly amazing podcast: https://soundcloud.com/amazing...
Adam Dorrell started CustomerGauge in 2008 to help companies solve the problem of retaining customers. Compatible with the Net Promoter Score®, CustomerGauge allows organizations to improve customer relationships and encourage loyalty, most immediately in e-commerce functions.
Shep Hyken is a customer service and experience expert, best-selling author and your host of Amazing Business Radio.