It’s been a long year for everyone, and some advice professionals like you may have lost a bit of confidence or perspective. This could be keeping you from realising just how valued you are by your clients. The solution is to get an objective measurement of just how satisfied your clients are, then leverage that into getting even more clients.
The easiest way to do that is with NPS.
What is NPS?
NPS stands for Net Promoter Score. It is a market research metric that is very widely used these days, usually as a single question asking the reader to rate how likely they would be to recommend a product, service or company to someone else. You may have responded to one of these yourself at some point.
How do you use NPS?
It’s not at all difficult to use NPS. You simply ask your clients to tell you how likely they would be to recommend you to someone else. Then you offer them the opportunity to tell you why they gave you that score.
The rankings you received at the two uppermost levels of the scale are your promoters, and they should be considered as referral opportunities. You will want to follow up with them for additional feedback and possible recommendations.
You should think about contacting the detractors who gave you a rating on the bottom half of the scale to talk about their concerns or unsatisfactory experience, then let them know if you act on their feedback. You should also give serious thought to the feedback given to you from those who ranked you in the middle of the scale and also let them know if you’ve made changes based on it.
Your NPS is calculated as the percentage of promoters minus the percentage of detractors, so it can be anything from -100 to +100. Surprisingly, experts agree that anything above 0 is actually decent, while anything above 50 is considered excellent. For instance, the average score in the US financial services industry is 60. And Apple only scores 47. The amazing news is that Feedsy has collected an average NPS score for Australian advisers of…85!
Sound hard? Feedsy makes this really easy for you, and it can even be totally automated.
And that’s not all…
Feedsy will also post the positive comments from the scores of “9” and “10” onto an Adviser’s Testimonial Wall. Of course, that will only be if the person opts in to share their love, but 90% of them do. Even better, those same fans are given a link to give you instant rave Google reviews. That means you are amplifying your care directly into Google’s search engine environment, expanding its positive effect exponentially.
So, if you are feeling a bit low or just want to help your clients shout about you from the rooftops, then what do you have to lose?
NPS is ordinarily used only by big brands, but Feedsy now offers this incredibly useful tool to generate testimonials, referral opportunities and Google reviews. Contact us today to find out just how much NPS can do for your business.