Imagine if you could ask one question that would tell you if your customers would buy more of your products and services or if they were going to your competitors! Looking at how revenue has increased or dropped in your different product and service lines is useful but it is a rear view mirror approach – it tells you your past, not your future. Customer surveys, by phone, face-to-face interviews, focus groups or on-line surveys are common ways to find out how customers see your products but they ask a lot of questions, take a lot of time, and are costly.
How many of us cringe when we get that phone call, are stopped in the shopping mall or get an email from the ‘customer representative’ who just wants a few minutes of our time to answer questions about our experience of company X’s product or services? Our first thought is often; “Oh yeah, a few minutes my foot, I know you’ll wind up asking 30 or 40 questions and take at least 15 minutes of my time!” Our response is often’ “No thanks, I am busy right now!” – and that’s why the response rate to these surveys is often lower than 30%.
Fred Reichheld in his new book, The Ultimate Question, suggests that there is one question that predicts better than anything else if your customers are going to continue their business with you. This question leads to a ‘Net Promoter Score’ which indicates the amount of commitment … Continue reading