Author: Franz Malten Buemann

Companies use all sorts of metrics and techniques to evaluate their customers’ satisfaction with their products and services. Google reviews, social media activity, and customer service surveys all help companies learn about their customers’ experiences.
Contact centers use a few different metrics to measure customer experience. Floor-level metrics assess the efficiency of the contact center’s operations, and include Average Speed to Answer (ASA), Auxiliary Time, Handle Time, and more. Net Promoter Score is the most common customer satisfaction metric for contact centers.
What is a Net Promoter Score?
A net promoter score (NPS) is a market research metric that measures how likely a customer is to recommend a brand to someone else — be it a friend, family member, or colleague. The score falls on an index between -100 to 100, and measures the overall satisfaction and loyalty of a customer.
Net Promoter scale.
To calculate NPS scores, you must present your customers with a survey question: “How likely are you to recommend our product or service to a friend or colleague?” The answers are scored on a 0-10 scale. Answers can be categorized into three groups;
Promoters (9-10): These customers are satisfied with the product or service. They’re likely to recommend the company to others, and continue to be loyal to the company. Promoters make up 80% of business referrals, and contribute to business growth over time.
Passives (7-8): These customers are neutral. They’re somewhat satisfied with the company’s product or service, but they might switch to a competitor’s product or service with little thought. Passives aren’t likely to promote your company to others, but they’re also not likely to engage in negative word of mouth.
Detractors (0-6): These customers aren’t satisfied with the product or service. Not only are they unlikely to recommend the company to a friend or colleague, but they also might hurt the company’s reputation through negative word of mouth.
Net Promoter calculation.
To calculate your NPS score, subtract the percentage of customers who are detractors from the percentage of customers who are promoters. The number will fall between -100 to 100.

TIP:
% of Promoters – % of Detractors = Net Promoter Score

Why is a Net Promoter Score important?
Companies, including contact centers, use NPS to assess customer satisfaction and loyalty, make improvements to their business services, and grow their business through referrals. To summarize, the main benefits of measuring and achieving high NPS are increased customer loyalty and long-term business growth.
How to leverage Net Promoter Score in your call center.
Luckily, contact centers have access to modern technology that can help them learn more about metrics like Net Promoter Scores, and helps to improve and leverage them.
For example, Fonolo Voice Call-Backs improve customer experience as well as various metrics, including ASA, CSat, and NPS.
Fonolo’s Portal provides data-rich reporting, including metric notifications, reports, and real-time data.
By using technology to assess and monitor metrics like NPS, contact centers can use data to improve their customer service and operations.
 
How to determine the right NPS for your contact center.
The ideal NPS score is relative to your company’s industry. Let’s take a look at some NPS benchmarks for different industries:
Average NPS by Industry in the USA, 2020

Streaming Media – 39
Supermarkets – 34
Airlines – 29
Banks – 21
TV/Internet Services – 0

If you’re a supermarket using competitive benchmarking for your industry, you’ll want your NPS to be higher than average, or 34. Remember, everything is relative. An NPS of 10 would be great for a TV/Internet Service provider given their average, but would be poor for a streaming media business.
Contact center benchmarks vary by industry, so you’ll need to find out what your competitors’ NPS are to see how you compare. Experts say that a range of 0 to 30 is good, while scores over 70 are phenomenal.
Final thoughts.
Net Promoter Scores are one effective metric for assessing your customers’ satisfaction and loyalty to your contact center. These scores are relative to your industry, so competitive benchmarking is the best way to assess whether or not your NPS score stacks up. If you’re interested in learning more about NPS and other metrics for your contact center, book a free demo for Fonolo’s portal today.The post Blog first appeared on Fonolo.

submitted by /u/CX-Expert [link] [comments]

Two centuries ago, shoemakers in England were called snobs. (It sort of rhymes with cobbler).

Good ones combined care with quality. They put in the effort to make a shoe that exceeded expectations, and leaned into the possibility of their craft. The others were simply hacks, trying to get by with little effort.

In an ironic and cruel twist, the term “snob” was taken from these committed craftspeople and used to describe someone who looked down on others, particularly those with fewer resources. A hard-working cobbler was viewed with disdain, because they had no silver spoon. It was also used to describe someone who gave those with more money or caste a persistent benefit of the doubt that they might not deserve.

And for a century the term has been pushed beyond cultural economics to describe someone who is a defender of scarcity and the status quo. A wine snob, for example, insisted on an expensive vintage, preferably from certain parts of Europe.

The circle comes around, as it often does. The best kind of snob is a throwback to that original cobbler and their customers, someone who can see past appearances or the traditional approaches and instead looks for care and quality. Which can happen regardless of where someone comes from. It’s not enough to be a cobbler. You need to be one who cares.

Effort and good judgment lead to good taste and cultural leadership.

We shouldn’t settle.

It always seemed like a silly question–school is for doing what you’re told, summer vacation was for discovering all the things that were worth caring about.

As adults though, regardless of our hemisphere, we’re always on vacation from school. No tests or diplomas, simply a huge array of choices.

And in a world that keeps changing, regardless of how much we might want it to slow down, learning is the attribute that is often overlooked.

The folks at Linkedin asked me to create a short video series on how organizations can become more creative. You can check it out here.

And Akimbo, proudly an independent B corp, has a bunch of effective workshops coming up, all of which you can find out more about today:

The Regular Decision Deadline is July 27 for altMBA’s October 2021 session

The ninth (!) session of the Podcasting Workshop with Alex DiPalma is now open for pre-enrollment (starts July 20th).

The sixth session of the Freelancer’s Workshop starts in about a month. Nothing will transform your work as a soloist as much as this workshop.

Bestselling author Bernadette Jiwa’s powerful Storytelling Workshop starts in August as well. You can sign up today.

And we’re around the corner from their breakthrough Real Skills Conference. Check out the details so you don’t miss out.

8 reasons why you need effective business communication in your company
Improves employee engagement
Good for team building
Boosts customer relationships
Helps with business goals
Creates a communicative culture
Encourages collaboration
Increases productivity
Improves creativity
Full article: https://www.ringcentral.com/us/en/blog/effective-business-communication/
submitted by /u/vesuvitas [link] [comments]

Over the past year or so, the concepts of leadership awareness, emotional intelligence, and employee mental health became a central topic for EX and HR professionals worldwide. We saw first-hand how COVID-19 and other social events around diversity and inclusion reshape and develop the EX-field. As a team determined to deepen our understanding of what…
The post The future of work: An interview with Jacob Morgan appeared first on Customer Experience Magazine.