NPS is one of the most incredible metrics that B2B businesses can use. At Clientshare we truly believe in the power of NPS, and have made it a standard feature within our Quarterly Business Reviews (QBRs) platform, Pulse. Measuring NPS on a regular and consistent basis helps you keep track of the health of your client relationships and is a great tool to monitor any risks or issues.
What is NPS?
NPS is when a client is asked, “How likely are you to recommend us to a friend or colleague?” and respondents then score between 0-10.
- Anyone scoring a 0 to 6 is known as a detractor and they have not been satisfied by their experience with you.
- Scoring a 7 or an 8 demonstrates that the respondent is a passive. To be a passive means that whilst they are happy with their experience, they are not likely to recommend the service.
- A score of 9 or 10 is the gold standard and demonstrates the respondent is a promoter. A promoter not only enjoyed their experience, but they would also recommend the service to others.
On its own, you are limited as to what you can do with your NPS data. You now need to take the time to investigate the numbers, identify patterns and consider how you will proceed when contacting your respondents. Detractors, passives and promoters will all require a different approach.
It's all about knowing your clients.
What should you do with a detractor?
Before you contact your detractors, try to identify patterns in the types of organisations that have scored you a 0 to 6. Consider: Are your detractors in similar industries? Have there been any changes to their usual contract with you? How large is their contract with you? Are they brand new clients? These are great places to start when you begin investigating and analysing your data.
Identifying patterns and possible causes of a detractor score will mean that when you start a conversation with a dissatisfied client, they will feel understood. Feeling heard will make your clients more likely to work with you on a solution.
Next steps
Now that you have the necessary foundations to start a dialogue with your client you can begin influencing change.
Don’t be afraid to hear what’s been going wrong for your client. Whether an account manager or a member of senior leadership is approaching the client, make sure you are equipping them with the necessary tools to receive less than complimentary feedback. Mistakes happen but being open to hearing criticism is going to make you stand out head and shoulders above your competitors.
Equally, allow your client to set the tone for the conversation. If they demonstrate a need for formality, mirror this in how you speak with them. If they would prefer something more casual and friendly, meet them at their level.
At the end of the day, it’s all about creating that dialogue.
Consider what kind of needs your client may feel are not being met. Is this a communication issue? An issue of punctuality? Do they feel they are getting their money’s worth from this contract with you? Have you faced this type of issue with another client? How did you resolve this?
Your account manager will be your go-to for this kind of information. Work with them to create some possible solutions prior to your meeting. This will prevent your client from feeling that the solution rests solely on their shoulders. A business relationship, just like a friendship or a marriage, should go both ways.
Moving forward
Set goals with clear expectations. Work out what your client needs from you and what you are reasonably able to provide. Allow your client to feel that they are going to be a part of whatever changes are implemented. This will again create an environment in which your client feels heard.
Want to know more about how Clientshare helps turn detractors in to promoters? Read more about how our unique Quarterly Business Reviews platform works or follow us on LinkedIn.
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