Technology has always wowed us and left us stunned by just how much it can change our lives and impact them for the better. Companies have traditionally released tech-based products with little in the way of product explanations and demonstrations without prioritizing the overall customer experience.
Customer experience is directly linked to customer loyalty, even for the telco giants. That’s why tools like the Verizon NPS score have emerged as popular metrics by which businesses can understand, measure, and cultivate customer loyalty.
What is an NPS Score?
The Net Promoter Score (NPS) is a customer loyalty metric that measures how likely customers are to recommend a company's products or services to others. The metric is calculated based on several factors, one of which is questions that ask customers how likely they are to recommend products or services to their friends, colleagues, or family.
Why is the NPS Score Important?
NPS is important for many reasons, but the most relevant reason telco giants should pay attention to this score is its ability to directly reflect customer loyalty and satisfaction.
A low NPS typically means low customer satisfaction levels. For companies in the telecommunications industry, this means not just a loss of revenue but potentially higher costs of acquiring new customers.
Other reasons why NPS is important include;
- It gives you a competitive edge over competitors in the same niche. Benchmarking your NPS against competitors gives you a clear picture of your position in the market.
- It can indicate growth or stagnation. These metrics can give you valuable insights into areas where your company can improve, and you can act accordingly.
- NPS encourages telecom companies to adopt a customer-centric approach
Keeping a close eye on the NPS allows companies to identify and address issues that reduce their revenue from valuable subscribers. Here’s how to do it effectively.
Strategies to Improve Your NPS Score
As a rule of thumb, any strategy geared toward improving your NPS score should start by focusing on understanding your customer’s pain points, improving their experiences, and looking to build strong relationships.
With that said, here are a few pointers that’ll help you improve your NPS score;
- Actively listen to customer feedback.
- Focus on delivering exceptional customer service based on your customer feedback.
- Improve customer service delivery.
- Aim to reduce customer friction in any part of the customer journey. For instance, aim to optimize digital channels like websites and apps for smooth and seamless user navigation.
- Personalize the customer experience - let the customer feel special through messages, especially on special days like birthdays and anniversaries.
In Conclusion
The NPS score is a very important metric that points key stakeholders to the right direction especially where customer experiences are involved.
A high NPS score indicates that your customers work as brand advocates for your products or services. On the other side of the coin, a low NPS score shows customer dissatisfaction and shows areas where you need to improve your customer service.
