What’s your NPS? If you don’t know, you need to find out.

Your “Net Promoter Score,” or NPS, is a simple but super-powerful metric for measuring…well, love. Based on a single-question survey, it gives you a snapshot of how much your current customers love your business. That’s all there is to it, but don’t let the simplicity of the equation fool you.

You need to know which of your customers can help your business, and which can hurt it.

To fight churn, protect your brand, and give your business long-term sustainability, keeping track of your NPS is a huge must. By categorizing your customers on a scale from “Loves you so much they’ll actually do your marketing for you” to “hates you so much they feel compelled to tell anyone who will listen,” you can figure out what you need to do to increase satisfaction and ensure loyalty.

It’s a consumer’s world now. Ratings and perception can make or break your business faster than you can say “No Stars.”

Listen to your customers, and let them show you the way forward with one simple question. By conducting NPS surveys and taking action, you can do more for the life of your business than any amount of advertising. Click Play!

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The post MBA1396 What Is NPS, and How Can It Improve Your Customer Retention? appeared first on The $100 MBA.

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