This is where NPS comes into play. You need to collect reviews to uncover issues and avoid negative ratings. By doing so, you can ensure your customers are satisfied and recommend your brand to their friends and family.
Why is it so important to calculate the NPS?
In addition to avoiding bad reviews and negative crypto currency database recommendations, calculating and improving NPS has several benefits, which we detail below.
The Net Promoter Score allows you to understand your customers' loyalty and the likelihood that they will become brand advocates by recommending your brand to their friends and family.
NPS is essential for assessing the risk of losing customers who cancel their subscriptions or switch to competitors.
A basic premise of marketing is that retaining an existing customer is always much less expensive than acquiring a new one. It's also more profitable because they may return to you again.
An increase in customer retention of just 5% can boost revenue by 30% to 90%. If you identify customers who are likely to abandon your brand, you can take actions to retain them and generate a higher return on investment .
Changes in customer NPS can be a good indicator or warning of their current level of satisfaction or the likelihood of churn.