While you can find many methods of doing the calculation on the web, there is only one correct answer. The value of a customer to your company is the total cash flow they generate for you over their entire lifetime. The single calculation method for this is Discounted Cash Flow; the Net Present Value of […]
This is the 18th article in a series on the Net Promoter Score and Net Promoter System. The subject this time is a critical one: the relationship between NPS trends and revenue. The topic has been somewhat controversial over the years, though I am not entirely sure why. If you work for a for-profit organization, […]
Welcome to the 101st Customer Strategy newsletter! The five topics this week are: Unusual tips on prioritizing / choosing improvement initiatives Why not share your benchmark NPS data with customers? Latest blog posts – Deep series on NPS continues Notable items from other sites – Tech support cartoons – Vertica NPS benchmarks Looking forward Unusual tips […]
This is the 17th article in a series on the Net Promoter Score and Net Promoter System. This time I cover cultural differences in the way people respond to surveys. As a person who has lived and worked in seven countries, I believe cultural differences exist and matter. My career has taken me regularly to […]
This is the 16th article in a series on the Net Promoter Score and Net Promoter System. In addition to the direct marketing techniques mentioned in my last article, here are some additional ways of improving response rates to email-based surveys, in priority sequence: By far the most important thing you can do is allow […]
This is the 15th article in a series on the Net Promoter Score and Net Promoter System. The subject this time is the use of classical direct marketing techniques to improve response rates. By classical, well… yes, I do mean ‘old’. Like most people, I receive lots of survey requests by email. Unlike most people, […]
Welcome to the 14th article in my series about NPS and the Net Promoter System. This time I cover response rates, sample sizes and statistical significance. Perhaps the most important points are about how to communicate such technical concepts. (Hint: Don’t!) All survey types are sensitive to response rates. The lower your response rate, the […]
This is the 13th episode in my series on the Net Promoter Score and the Net Promoter System. This one is a bit longer than the average and covers some important topics, including whether you should bother surveying your customers at all. If you have missed some prior articles in the series you will find […]
Welcome to the 100th Customer Strategy newsletter! The five topics this week are: 100 newsletters already? When is it OK not to bother with improving customer experience? Latest blog posts – New series on NPS continues Notable items from other sites – CXO Infographics, 100 customer-centric companies Looking forward 100 newsletters already? Yes, this is indeed […]
This is the 12th episode in my series on the Net Promoter Score and the Net Promoter System. There is a learning check / quiz at the end of this post. Suppose you have performed an NPS survey and feel the data set is not representative of your customers. What should you do? A common […]
