By asking a simple single question, you will predict the potential growth of your organization. It was the promise of a consultant named Fred Reichheld, and the whole business world started to questioning old solid traditions such, the annual customer satisfaction study, the market research ‘old’ world and the need to build scorecards combining different KPIs to control the sanity of the business organizations and monitoring the value creation. It was 2003, I did my first NPS project in 2006. Fred promised, “This number (the NPS) is the one number you need to grow!”. After 11 years and several projects under my belt, can I honestly say Fred has kept his promise? Continue reading “The One Number You Need to Explain: Net Promoter Score”
You’ve probably read hundreds of posts, articles, and books about market research. Over the past several years, another form of asking opinion to customers has also eased into the discussion: Customer Feedback Management (CFM) mainly associated to a specific key performance indicator (KPI): the Net Promoter Score (NPS). Continue reading “Customer Feedback management is not Market Research …and NPS not the Holy Grail”
An effective Customer Experience Management (CEM) program is a perfect blend of different ingredients. A good mix of a clear strategic vision, measurable goals, key performance indicators, structure in place, and change management efforts. To support that, one of those elements, it is a robust CEM/VOC platform.
This post addresses the surprising volatility of NPS and how this continues to be a big challenge for users.