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All Posts Blog: Grow Your Business by Strategically Improving Customer Advocacy
(Part 4 of 4 – Customer Satisfaction Series)

Grow Your Business by Strategically Improving Customer Advocacy
(Part 4 of 4 – Customer Satisfaction Series)

Sep 19 2016
12
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Since being introduced in Frederick Reichheld’s article “The One Number You Need to Grow”, the concept of measuring customer loyalty through a single question survey has become a common practice among many B2B companies.  The power of this single metric, “Net-Promoter Score” (NPS), is built on the concept that “word of mouth” is a strong driver of growth.  According to Reichheld, “research shows a strong correlation between a company’s growth rate and the percentage of its customers who are “promoters” – that is, those who state they are extremely likely to recommend the company to a friend or colleague. The Net-Promoter Score (Figure 1) is calculated by subtracting the percentage of customers who say they are unlikely to recommend from the percentage who say they are extremely likely to do so.”  

 

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