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Net Promoter Score – it’s more than just a number

Net Promoter Score – it’s more than just a number

How do you rate a service provider’s success? The Net Promoter Score (NPS) is a method in which a company asks its customers how likely they are to recommend a fiber broadband product or company to a friend or a peer. This score gives companies an idea of where they are standing in the industry and helps them benchmark themselves in terms of where they can improve and where they are excelling. According to Mike Render, RVA LLC Market Research & Consulting, NPS is a good methodology and particularly valuable because it is used both nationally and internationally to benchmark where companies might stand in their industry and amongst other service providers.

On the other side of the coin, bad customer experiences are nothing to be trifled with and are difficult to overcome. “[A study from EPB shows that] one out of 26 customers will complain about a bad experience, and the rest will leave silent,” said Katherine Songster, Communications Director, Harry. “That means you’ve lost 26 customers, and then everybody will find that those customers are speaking about their negative experience.”

NPS is more than just a number when it comes to the marketing side of customer satisfaction. The metric and more in-depth customer surveys are opportunities to uncover insights that can improve products and services while elevating fiber as a brand. By providing customers a voice and the chance to provide feedback, companies are now creating a relationship based on trust and loyalty, hoping to forge further connections leading to customer retention and acquisition.

“Retention is where customer care really comes into play, and that is a big part of what we [ASK] do with our partners,” said Ray Monasterski, Business Development, ASK. “…it’s the retention piece that’s really going to drive that customer experience, and that’s why it’s so imperative that you’re thinking about your strategies.”

For more on how to learn from your customers and the new Net Promoter Score initiative by the FBA Marketing Committee to be discussed at Fiber Connect 2024, listen to the latest Fiber for Breakfast podcast.