NPS . . . No, it's not some acronym for an entrepreneurial disease. Instead, it means "net promoter score." And it's an important measure that emerges when you ask your customers the most important question of all. Can you figure out what that would be?
https://www.entrepreneur.com/article/304850/
Skedaddle, a company that calls itself the “Uber for buses,” has a radical new plan to eliminate tipping in the service sector. The company’s elevator pitch is to replace tips with customer-sourced ratings for service industry workers, including cab drivers, restaurant servers and even cashiers at supermarkets. These ratings can then be assigned a monetary value through a cryptocurrency.
https://btcmanager.com/kudos-project-replace-tipping-customer-feedback/
Collecting and analysing feedback is one thing, but bringing it to a profitable conclusion by taking action is what makes the whole feedback process worthwhile. We refer to this last step as ‘closing the feedback loop’. This is a key concept in managing the online customer experience, which is why it’s important that this step is not overlooked. It’s also imperative that this step is carried out as efficiently and effectively as possible. To do this, close collaboration is often required. The question is, what does this collaboration look like?
https://blog.azendoo.com/the-power-of-collaboration-in-closing-the-feedback-loop/
User-centric firms should identify and track the core actions that can make or break their businesses.
Traditionally, executives have used standard metrics, such as cash flow, inventory turns and operating income, to get a broad sense of the health of their firm. However, the game has changed with the rise of digital business models centered on the user. New metrics need to be devised based on the core user actions that drive value creation in such models.
https://knowledge.insead.edu/blog/insead-blog/digital-businesses-the-metrics-that-really-matter-6731/
Putting customers’ needs before a brand’s self-interest is not an easy thing to do. But brands that do not address customer feedback and shift business strategies accordingly are missing an opportunity, according to Michele Silvestri, EVP and chief design director at GTB.
http://www.thedrum.com/news/2017/09/01/how-brands-can-use-technology-fix-the-customer-feedback-loop-brand-love-stories/
At a time when the competition is a tap or mouse click away, it's a wonder more companies haven't set themselves up better to hear and respond to the voice of the customer (VoC).
We have the data. We have the technology. But in spite of this, less than half of companies (42 percent) are using one or more technology solutions to support their VoC programs.
https://www.cmswire.com/customer-experience/forrester-names-4-leaders-in-customer-feedback-management-platforms/
Most digital journeys start with the recognition of a need or of a problem: your market is evolving and new players are emerging; these competitors are delivering better services faster and you can’t keep up. Your initial attempts to respond have become lost in a mire of conflicting stakeholder requirements and change management bureaucracy. If only you too could operate like a VC-funded start-up! From first-hand experience, this is the start of your business becoming a ‘digital native’.
https://www.itproportal.com/features/digital-journey-dont-get-left-behind/
Digital marketing is a complicated beast that demands collaboration across such diverse disciplines as branding, content, and data science. The best marketers combine company strategy and brand goals with a keen understanding of what makes the customer tick; listening to customers is truly the secret sauce of successful marketing.
http://www.zdnet.com/article/mckinsey-on-digital-marketing-personalization-is-not-what-you-think/
In the retail industry, the customer is at the core of success (as the saying goes, “the customer is always right”), which is why there is a constant desire to know more about them. What do they expect, what do they like, did they enjoy visiting the store, were the employees helpful? Generally, we believe that the more feedback we solicit, the more data we receive. And the more data points acquired from the customer, the better retailers can understand how to both cater to and enhance their experience.
https://www.retailtouchpoints.com/features/executive-viewpoints/how-to-enhance-cx-by-acting-on-available-data/
Imagine that your company’s technology is loved by customers, considered ‘best of breed’ in the industry, and has a steady NPS, comfortably in the 20s, 30s or 40s. Now imagine that in the midst of this success, some of your longest standing accounts begin to drop, others scale back their usage, and referrals slow way down.
How, you ask, is it possible? After all, isn’t the whole point of having a high NPS to ensure successful retention, upselling, and referrals?
Here’s the secret: When it comes to technology, NPS has a blind spot.
http://customerthink.com/tech-companies-beware-of-the-nps-blind-spot/
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