The One Number You Need to Grow
Butler Street has been a strong proponent of the Net Promoter Score ("NPS") since its inception in 2004 and has made it a critical part of our Client Risk Analysis and our proprietary ClientFirst A.R.E.™ offering. Net Promoter Score is a customer loyalty metric developed by Fred Reichheld, It was dubbed as the "One Number You Need to Grow". Having utilized NPS across multiple industries, we believe it is a strong leading indicator of predicted future revenue and earnings.
Customer Loyalty Surveys
Benefits of Net Promoter Score Survey includes:
Ease of Implementation. Can be implemented by phone, email or via the Web.
Simplicity. NPS is typically limited to just two or three questions, keeping the burden on the customer low and the response rate high. It can compile and post scores quickly, so that action may be taken.
It is actionable. NPS practitioners typically share customer feedback very quickly after it is received. By contacting clients quickly, you can get to problems before they escalate.
Benchmark across industries. Thousands of companies across fifty+ industries have begun to measure their Net Promoter scores over the past several years enabling you to benchmark yourself against the best.
Strong predictor of future revenue. Our experience has shown a decline in NPS if not addressed immediately, will result in a decline in revenue and profits 6-8 weeks later.
Additionally, strong NPS scores lay the foundation for future cross-sell opportunities.
Click on CONTACT to learn how we can build a closed-loop system for customer feedback.
