3 Reasons why Retailers love NPS

3 Reasons why Retailers love NPS

It’s all about the experience, making your customers happy in a way that they keep buying from you.

 

Determining how effective your business is at making customers happy is essential because, more often than not, brands have a tendency to overestimate just how pleased their customers are. This is why the Net Promoter Score is so valuable.

 

  1. Build Customer Loyalty

Building customer loyalty is essential in today’s retail environment because consumers are literally spoilt for choice. A couple of years back, they might have had two or three brands to choose from. Now, though, consumers can just jump online and find plenty of options in terms of brands, prices, and so on, which means that retailers must secure the loyalty of as many of their customers as possible so that they don’t have reason to go searching elsewhere.

 

  1. Improve Customer Satisfaction

As we’ve already mentioned, satisfaction shouldn’t be the end-game. However, it is a stepping-stone and an important one in your journey to achieving customer loyalty. First, you must satisfy your customers before delivering delight.

 

NPS allows you to quickly measure whether the strategies you are implementing are working or not. This way you can make flexible changes wherever necessary and don’t have to make decisions that impact the customer based on gut feelings and assumptions. You have solid data to tell you whether you’re doing it right or not!

 

  1. Convert more Customers into Advocates

Word-of-mouth advertising is one of the most effective promotional tools in any business’ arsenal. No tool is as powerful in acquiring new customers as recommendations from existing customers.

In the NPS system, those customers who are most likely to recommend your business/products/services to others are called advocates. And with NPS, you can discover just how many advocates you have among your customer base. Having an NPS of 50 means that half of your customers are willing to promote you and actively tell other people about your business/products/services.

 

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