VoC, the Voice of Customer is a popular IT infrastructure library phrase that defines the process of tapping into customer expectations, requirements, preferences, and aversions. It is a research method that is employed by a majority of businesses to produce a detailed set of customer needs and wants, organized into a hierarchy, and then used to visualize gap residing between customer expectations and their actual experience with the business.
A majority of companies, in an effort to boost customer experience and loyalty are using VoC. However, achieving the objective, such as customer satisfaction that does not take success or failure into account is merely hot air. As Lord Kelvin quoted, “if you cannot measure it, you cannot improve it”, using VoC alone is not enough.
Net Promoter Score (NPS) has a key role to play here. It is a key metric for measuring customer satisfaction that has a quicker feedback mechanism than VoC. In the same token, eNPS (employee NPS) is a powerful metric to measure how motivated and happy employees are in an organization. Companies, willing to ensure an outstanding customer as well as employee experience, ought to have a good NPS and eNPS score.
NPS Decoded
NPS is calculated by surveying end users about, on a scale of 1 to 10, how likely would they recommend the brand or product to a friend or colleague. Following the survey, the respondents are categorized into 3 segments: consumers who rated the brand from 9-10 are called promoters, ones who rated from 7- 8 are called passives, and those who rated from 0 to 6 are termed as detractors. Finally, the NPS score is measured by subtracting the number of Detractors from the number of Promoters.
NPS Power of Prediction
Platform-oriented companies use NPS to evaluate their customer satisfaction and loyalty. They collect NPS from customer base with the help of a dynamic feedback footer bar in their web-based application. This score allows enterprises to align their efforts around customer desires, needs, and willingness to recommend a product, brand or service respectively. Though different fractions in a company including, different executives, departments, teams etc. might have conflicts over quality of product or service and the direction to follow, NPS unanimously represents voice of the customer.
For example, a good net promoter score signifies that there are more happy and satisfied customers as compared to customers who aren’t. It symbolizes negative net customer churn, allowing growth and innovation. Likewise, bad net promoter score reflects lower levels of satisfaction and loyalty for the brand. Low NPS denotes churn, and for such enterprises lean times is not ending anytime soon.
In short, NPS is used by companies to help monitor trends, improve retention, increase referrals, and prioritize the feature roadmap of customer-facing solutions.
Raise NPS with Integration
Employing a self-service integration platform, one that scales and onboards faster helps organizations mitigate risk of upsetting a consumer and receive a negative review. This safeguards business ecosystem from negatively impacting NPS, thereby accelerating revenue along with productivity, minimizing churn, and offering delightful customer experience.
Get ready to spread the good word!