Earlier this month we mentioned that one of the most successful ways to grow your small business is through positive online reviews from your existing clients. We walked you through which online review sites were best for your small business and also how to manage all those new reviews you are getting - good or bad. (Miss all this great advice? You can check it out here.)
Alright, by now you should understand the importance of positive online reviews and that 92% of clients believe recommendations from friends and family over all forms of advertising. Something you might not have heard is this new buzz word going around called Net Promoter ScoreSM (NPS®). NPS surveys works to gauge your clients' loyalty as well as their likelihood of referring your business to their friends and family. You can conduct NPS surveys through many different forms of communication - phone, email or Web - whichever you think will generate the best response rate from your clients.
NPS surveys act as a leading indicator of growth for your small business, regardless of whether growth or increased profitability is your goal.
So you might be asking yourself “what’s the difference between NPS and the ‘regular’ way of collecting feedback from your clients?” Well, the short answer is that NPS surveys give you a quick way to receive feedback by asking the ultimate question: “How likely is it that you would recommend your business to a friend or colleague?”. This question is the easiest and fastest way to measure customer loyalty to your small business.
Both the positive and negative feedback you gather from NPS surveys can help your business grow in multiple ways:
- Positive Client Feedback:
- Using the positive feedback to collect testimonials for your website.
- Asking clients who provided a testimonial to also post it on review sites like Google, Yelp, and Facebook.
Negative Client Feedback:
- Address any negative feedback with the client to see if you can make up for whatever they feel wasn’t right.
- Use the negative feedback as a coaching opportunity with your staff member who worked with that client.
Now that you got the what and the why...check out Pt. 2 of our NPS series! Learn how to effectively use your positive customer feedback!
NPS®, Net Promoter® & Net Promoter® Score are registered trademarks of Satmetrix Systems, Inc., Bain & Company and Fred Reichheld.