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Metrics That Are Better Than NPS?

  Net Promoter Score (NPS) is a deceptively powerful and widely used metric for measuring customer loyalty and satisfaction. It works because it asks one simple question: On a scale of 0 to 10, how likely are you to recommend our product to a friend or colleague? From there, respondents are split into one of three groups, which are: Promoters (9-10): Loyal, enthusiastic advocates for your product. Passives (7-8): Users who are happy enough but could switch to a rival product under the right circumstances.  Detractors (0-6): Unsatisfied customers who are more likely to complain to friends or social media about your product. Once you have counted your responses, you get your NPS score by subtracting the percentage of Detractors from the percentage of Promoters.  However, not everyone loves the NPS score. Here are a few of the weaknesses associated with the customer loyalty metric. It’s too simple to capture the true complexity of customer sentiment. People who respond to...

Enhancing Self-Service: Tech for Better Customer Loyalty

  The customer self-service train has picked up massive momentum over the last few years. These days, an exciting mix of emerging strategies and technology has emerged to help brands deliver experiences that drive customer loyalty and retention. However, too many businesses are failing to take advantage of these new models and best practices.  This article will examine the state of customer self-service in 2024 and how your business can embrace a more user-centric future. Image by cookie_studio on Freepik The evolution of customer self-service In many ways, the conversation around customer self-service is too fixated on cost savings. While that is a major concern for many businesses, it ignores the fact that the true value of self-service tech lies in its potential to provide added value for users, which in turn boost retention, loyalty, and revenues. So, when it comes to customer loyalty, what do these value-enhanced interactions look like? Well, for starters, it means that c...