5 Ways to Leverage Net Promoter Score to Boost Customer Retention

InMoment XI

You don’t just want to appeal to new customers—you also want to keep your current ones coming back again and again. Not only do returning customers require less introduction to your products and services, but they also tend to spend more than first-time customers, too.

40 Customer Retention Statistics You Need to Know


Learn about the top two customer surveys for predicting and increasing customer retention. Anytime a customer cuts ties, you experience the negative impact of customer churn. It’s important for businesses to understand what contributes to churn in order to address those issues—and ultimately drive customer retention. Here are 40 customer retention statistics that reinforce the growing need for customer experience management.


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5 Steps to a Customer Retention Strategy

Integrity Solutions

What actions can you take to both increase employee engagement and create a customer retention strategy that moves more of your customers from “satisfied” to “loyal”? One of the key tenets of a customer retention strategy is that it relentlessly focuses on value creation.

How to Calculate and Improve Your Customer Retention Rate


Customer retention is the lifeblood of any savvy enterprise. It’s the only way to be successful in this customer-centered economy and ensure scalable long-term revenue. The Benefits of Improving Your Customer Retention Rate. Calculating Your Customer Retention Rate.

Use These Survey Questions to Predict and Increase Customer Retention


When it comes to measuring the probability for a customer to return to a brand and make new purchases, many businesses rely on the typical customer satisfaction (CSAT) survey question: “How satisfied were you with your experience today?”. While it may seem that this question will determine customer retention , research on customer feedback tells a different story. Here are two very effective (and often overlooked) ways to predict customer retention.

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Customer retention is the new religion

Hello Customer

January typically is a month to forecast trends, and we believe customer retention will be an important one. But we see increasingly more organisations move their focus from aggressive acquisition investments to retention management. Customer retention or acquisition?

Customer Loyalty Vs Customer retention-Unleashed!


You can’t retain them just with an excellent product but also need to build a healthy relationship that makes the customers loyal to you. Read on further about Customer Loyalty vs Customer Retention! Customer loyalty vs customer retention!

9 Customer Retention Strategies for SaaS


9 Customer Retention Strategies for SaaS. Higher retention rates can mean higher customer loyalty for your business, something that’s crucial for success, especially for SaaS. Stage in the customer lifecycle journey — how recently did they sign up for a subscription?

How to Increase Customer Retention?

ProProfs Chat

Well, one answer to that question is to make more sales, and no doubt that is important, another answer to that is customer retention. And what exactly is customer retention? No points for guessing, retain customers. I personally consider customer retention to probably be the most important part of the sales process because whether you are established in the market or just starting out, you can’t survive without catering to existing customers.

4 simple strategies for improving customer retention


It takes a lot to earn a customer’s loyalty. By emphasizing customer retention as a key performance indicator (KPI) for your business, you can ensure your priorities are in the right place. What’s your customer retention rate? Why customer retention matters.

Technology Based Solutions to Enhance Customer Retention Strategies


Customer churn in the age of information is a fact of life for every business in every industry. Customers have unprecedented access to data, enabling easy comparisons of alternatives, as well as hassle-free provider changes with a simple click of a button. With Accenture reporting that 77% of consumers are no longer loyal to any particular brand, companies must work harder than ever to retain their customer base. Customer churn formula. Happy customers = low churn.

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How Support Teams Can Improve Customer Retention

Help Scout

Great customer service delivers real business value. Even so, it can be difficult for empathetic customer service staff to think about customers in terms of business revenue. What is customer retention and how is it measured? Say you have 500 customers on March 1.

Case Study: How IVALO.COM Doubled Its Customer Retention Rate In 6 Months


IVALO.COM boosted their NPS by a magical 41% and doubled the customer retention rate only during the time of 6 months. Insight case study CSAT customer experience customer retention cx emotional experience EVI ivalo NPS revenue

Developing Surveys to Boost Customer Retention Through Actionable Data


Customer retention is a leading critical performance indicator for companies in 2002, and for good reason. In fact, a survey by Brightback found that 97% of companies are prioritizing retention, proof of just how seriously businesses are taking this issue. Loyal customers drive increased revenue through referrals and repurchases, while the cost to acquire them has already been earned back. . Leverage CSAT for retention with focused survey questions.

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How to Leverage Net Promoter Score to Boost Customer Retention


You don’t just want to appeal to new customers – you also want to keep your current ones coming back again and again. Not only do returning customers require less introduction to your products and services, but they also tend to spend more than first-time customers, too. .

10 Steps to Immediately Improve Customer Retention With Journey Analytics


What’s better than acquiring one new customer? The answer isn’t acquiring two new customers. Much of the marketing world is still focused on customer acquisition, but to improve customer retention will yield f ar better ROI and cost about 5-25X less than customer acquisition. What is Customer Retention? Why Customer Retention Matters. As per Gartner, a 5% increase in retention can increase profits by 25% – 125%.

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A SaaS Companies Guide to Improving and Driving Customer Retention

ProProfs Chat

A loyal customer base is the cornerstone for any successful business. More so for Software-as-a-Service (SaaS) companies since acquiring new customers on a B2B level is much more difficult. This makes customer retention a necessity for SaaS-based companies. Churn is pretty much the rate at which customers who subscribe to a service stop using it. So what is NPS and how does it work? What is NPS and How it Works. NPS Calculation.

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Complete Guide to NPS: The Ultimate Question


Assessing customer satisfaction is crucial and has become an important part of driving growth for a variety of businesses. A Net Promoter Score (NPS) ® is one popular way of measuring customer satisfaction in a way that’s easy to understand. What is a Net Promoter Score (NPS)?

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How to Move from NPS to EVI®?


Net Promoter Score (NPS) is a glorified metric in the field of customer experience. Sure enough, the simple question of how likely a customer is willing to recommend the business to others captures many aspects like satisfaction, loyalty, and retention rate.

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7 Step Customer Success Strategy for Higher Lead Conversion and Customer Retention


A customer success strategy is a proactive plan for guiding your clients to outcomes that satisfy their needs. When your customers enjoy more value, your product adoption rates rise and customer retention rates go up. Proactively guide customer growth.

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How to Turn NPS Feedback Into Reviews, Recommendations and Referrals


Net Promoter Score® lets you measure and analyze customer satisfaction to learn more about what people like (and dislike) about your product or business. That is if you put your NPS® to work. Ask customers to spread their love on social media. Customer Success Net Promoter Scor

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3 Key Pillars of a Successful NPS Program with Salesforce


It’s no secret it costs five times more to attract a new customer than to keep an existing one. This is because returning customers buy more over time so operating costs shrink; whereas finding new customers is laborious and expensive. That said, why are only 18% of companies focusing on retention ? With Net Promoter Score (NPS), companies can measure customer loyalty and find ways to turn customers into champions. The standard NPS question.

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7 Data Points That Drive Customer Retention For SaaS Business


The real skill behind customer retention is helping customers achieve success. It would be great if you could rely directly on customer feedback to understand their satisfaction levels but more often than not these satisfaction surveys are lagging indicators.

Six Best NPS Software Solutions for 2022


The number of NPS software providers has proliferated as the importance of tracking Net Promoter Score (NPS) has been realized by a growing number of enterprises. This raises the question, how do you find the best NPS software solutions? What Is NPS Software?

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Scenario Based NPS — Metrics Part 2

Education Services Group

Do you see the connection to Net Promoter Score (NPS) yet? it would have been a historic promoter fest—10s all around, the perfect NPS, and all champions and advocates for me. Think about the scenarios and timing when you choose to ask your customers this question. The Reason.

Why Bridging the SaaS User-Buyer Divide Is Key to Improving Customer Retention


This post was originally published in Customer Think. . The Customer Success Index 2022 , a survey of more than 350 companies by Gainsight and RevOps Squared, recently uncovered some very interesting, if not troubling data on the state of alignment between SaaS users and buyers.

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How SaaS Companies Can Project Their MRR Using NPS (6 Actionable Tips)


If your company is charging the clients on a monthly basis, signing up new customers and keeping them onboard has an incredible impact on your revenue, growth rate and profits. Luckily, you can accurately calculate and project monthly recurring revenue trends using your NPS data.

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Complete Guide to NPS: The Ultimate Question


Assessing customer satisfaction is crucial and has become an important part of driving growth for a variety of businesses. A Net Promoter Score (NPS) ® is one popular way of measuring customer satisfaction in a way that’s easy to understand. What is a Net Promoter Score (NPS)?

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Using Monetized NPS® to Growth Hack Customer Retention


Peter Drucker, a legendary business icon, once famously wrote that the purpose of any business is to “create and keep a customer.” customer retention rates of most companies aren’t great). The post Using Monetized NPS® to Growth Hack Customer Retention appeared first on CustomerGauge. Blog Featured Growth Hacking NPS customer retention growth

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5 Smart Ways to Use Your NPS® Survey Results


Learn how to use your NPS survey results to boost customer retention and provide the best customer experience. A Net Promoter Score isn't just a number. Articles

The Reasons Behind Apple’s Customer Loyalty and High NPS


Apple’s customer satisfaction and loyalty have been growing steadily over the years, reflecting the way consumers view the brand. According to NPS Benchmarks , Apple’s NPS score in 2017 was a resounding 72 , which is significantly higher than the average NPS score of the consumer electronics industry. In 2007, its NPS was a respectable 58. Because NPS is related to a company’s growth and customer retention levels. Find Out Your Company NPS.

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NPS vs. Social Media For Market Research


One of the most common questions we receive, as an NPS®-focused software business, is how Net Promoter Score® differs from the type of data you can extract by studying people’s reactions on social media platforms like Facebook, Twitter and Instagram. Measure and Improve Customer Satisfaction.

Product Engagement Score: A More Accurate Predictor of Churn than NPS?

Education Services Group

There’s a new kid on the block of customer metrics, and it might be one of the most accurate individual predictors of churn we can find. NPS uses a simple scale and has the advantage of being quick and easy for customers to fill out. However, NPS has its drawbacks.

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6 Exclusive Hacks Of CustomerSuccessBox To Accelerate Customer Retention For Your SaaS


In a Subscription economy, the customer is the true king. It gives the power to the customer aka subscribers to not only choose the vendors among available options but also the power to fire them at their will. So what are the proven hacks to driving customer retention ?

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Ready to Boost Customer Retention? 3 Tips That Can Help! 


Over the years, customer success manager roles have expanded to include many different responsibilities. Bridging the gap between customers and a product team is critical, from managing customer implementations to ongoing account maintenance. Are NPS scores taking a dip?

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