Are you sure that your product is the best on the market? Great! Faith in your business is the fuel for development. But there is another party in business whose opinion influences success – the client. Their mood and level of satisfaction with your product is an important indicator that needs dataset to be monitored, analyzed and grown. In this article, we will tell you how to measure and interpret the customer loyalty index in order to best meet customer needs.
What is the loyalty index
In 2003, Harvard Business Review published an article titled “The Single Number You Need to Grow .” The author of the article claimed that by asking customers one question, a business could determine their mood and use that data to grow. That was the first time the business world talked about the NPS metric.
Net Promoter Score or NPS is a metric that helps you understand how satisfied your customers are with your company’s product. The metric is applicable to all types of businesses, from digital solutions to products and services. It’s an indicator of how satisfied your customers are with you.
How to measure loyalty index
NPS is essentially a 0-10 rating scale answer to the question. “How likely are you to recommend. Our product to your friends and colleagues?”
The survey supplement with the question “Why did you give such a rating?” Then, dependg on the rat, it is reasonable to ask “What did we do well?” and/or “What could we improve?” This will help to collect quality feedback and learn in more detail what is good and what is not good about your product.
Bas on the answers to the main question of the loyalty index, 3 groups of clients are form:
Promoters are satisfi and loyal customers maximizing crm automation without compromising personal connections who are to recommend your product to others.
Neutrals – generally satisfi with your product, but not enthusiastic. Such customers easily leave for competitors for a lower price.
Critics are those who are unhappy email leads database with your product and don’t plan to keep quiet about it. Their “enthusiasm” can damage your company’s reputation.
