Customers Say: “SHOW Me You Care!”
Demonstrate That You Value Customers for Higher NPS
Vice President, Innovation & Strategy, NICE Satmetrix, Inc.
Does your company care about its customers? You probably answered yes, but your customers might not know it, according to original NICE Satmetrix research. In 73,000 consumer responses to the survey question “This company shows they value me as a customer,” 35% of customers answer with a resounding “no” or a tepid “not sure.”
More than 1/3 of customers are unhappy with how they are being treated. That stands in contrast to many businesses’ belief that they are making inroads in their vital differentiation strategy of the year: Create a better customer experience. Instead of measuring and demonstrating their own loyalty to their customers, companies focus on whether customers are loyal to them, continually asking for Facebook “likes” or tweets.
These one-way interactions can convey an attitude that customers don’t have much to offer beyond what’s in their wallets.There’s a lot at stake. A perception of caring correlates to a very wide difference in Net Promoter Score, a proven leading indicator of growth. NPS is 55 among customers who agree that companies show they care, versus -56 for consumers who do not – a 100-point difference.
The good news is that 62% of customers do think companies care, and are your Promoters. How does your company stack up? Whether you are above or below this particular benchmark, you can shift the balance in your favor by understanding their experiences: These people can be considered your extreme Promoters, people who will recommend your brand to others, stay longer with your company, and, ultimately, continue as customers. Intentionally designing processes so that you can replicate their experiences is your number one goal!
About NICE Satmetrix Benchmarking Data
NICE Satmetrix benchmarks help you understand your company’s customer experience performance against the broader market. Our unparalleled database of customer insights and metricsrepresents companies of all industries, regions, and sizes, providing trustworthy data to guide your decision-making.
About the Author
Laura L. Brooks, PhD, is Vice President of Innovation and Strategy at NICE Satmetrix. She is co-developer of The Net Promoter Score, and co-author of Answering the Ultimate Question: How Net Promoter Can Transform Your Business.Laura has extensive experience working with clients to build worldclass customer loyalty programs. Currently, she works on building thought leadership into NICE Satmetrix’s technology solutions.