1.1 Customer Satisfaction
The Net Promoter Score (NPS) measures customer experience. Not only is it a simpler, more easily understood and more actionable measure than other customer satisfaction ratings, but it also links directly to the economic growth.
The NPS can be calculated by asking one question "How likely are you to recommend us to a friend or colleague?" and scoring the answers on a zero-to-ten scale. The final score is simply the percentage of customers who are promoters (those who scored 9 or 10) minus the percentage who are detractors (those who scored 0 to 6).
A common approach to query the needed data is to implement this question as an automatic add-on after a completed sales process.
Best practices for an effective customer satisfaction survey
- Ask the ultimate question and very little else
- Find a scale that works and stick to it
- Aim for high response rate from the right customers
- Report relationship data as frequently as any other financial/economic data
- Audit you processes and results to ensure accuracy and freedom from bias
1.2. Customer feedback
To match existing demand and enable a customer-centric product development, feedback mechanisms are crucial for every startup.
Best practices for feedback mechanisms
While early survey can be handled without established mechanisms, it pays of to develop a distinguished strategy and partner up with experienced service providers in the long-run.
Some companies that specialized in customer feedback analytics are listed here:
Chattermill - is a customer feedback analytics tool that captures and analyses every piece of customer feedback across the customer journey in one place and in real time
Product Board - is a product management system that helps organizations to understand what customers need, prioritize what to build next, rally everyone around the roadmap and therefore get the right products to market faster