Which is Net Promoter Score (NPS) analysis?

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Interestingly, a customer satisfaction survey using this method can be conducted by the entrepreneur himself. It is based on asking a question: Please rate on a scale of 1 to 10 how likely you are to recommend company X to your friend. Respondents who score from 1 to 6 are considered brand detractors, from 7 to 8 are indifferent, and from 9 to 10 are brand promoters. The NPS is calculated as the difference between the percentage of promoters and detractors. The advantage of the NPS indicator is the ease with which we can use it and the possibility of making comparisons over time in a simple way. This type of continuous communication with customers can allow us to respond to problems as they arise, maintain good customer relationships, and also increase profitability.

We do not want to settle the controversy over the latvia email list validity of industry analysis. The pressure on entrepreneurs to generate profits as quickly as possible discourages many from collecting data and doing quantitative analysis. From the point of view of the small business owner who decides to research an industry, it is crucial to select methods that allow the research to be carried out in-house. In doing so, we would like to point out that the voice of the customer is the link between the customer and the company. The customer must be at the centre of any analysis and research and then become the heart of the company's business model.

Before any analysis, let us ask ourselves who our customers are and who they could be, and what they need, and let us ask ourselves this question again. Let us review the answer from time to time without letting the market do it for us. If you feel that changes are necessary in your company, voice of the customer analysis can be the tool to make them happen. Translating customer expectations and needs into quantifiable parameters makes it easier to make new investments and implement innovations in products and the organization. Why? Because innovation in a company is linked to a change in its business model. And a prerequisite for the success of any change introduced in the model is to put the customer first, even in the analysis phase.