"So Steve, after reading the latest data analytics report listing our current data on customer acquisition cost (CAC), annual recurring revenue (ARR) and lifetime value (LTV), can you please tell us what steps the sales team is taking to increase customer value, measure sales performance and achieve growth success, while keeping costs down to a bare minimum?"
These days, it seems that everyone is obsessed with tracking performance and their corresponding acronyms. It certainly doesn’t help that there is no lack of data to sift through. In our world of complex metrics and customer data overload (or might I say, overkill) Net Performer Score is like a breath of fresh air. It's no wonder that companies are drawn to it like a horse to water.
Net Performer Score (NPS) is so ridiculously easy to grasp it seems laughable, but it has proven to be a very effective measure for evaluating customer loyalty. It's calculated from the answers to this simple question: "Would you recommend this product?" The number of people who would, minus the ones who wouldn't, gives you the Net Promoter Score.
So why is a metric that is used to evaluate customer satisfaction relevant to sales? I can think of two very important reasons:
Let's start with bad news. A low NPS should trigger alarm bells for any sales team. The sales process is often where customer problems are occurring and the first place management will look to place blame. A company that sees consistently low Net Promoter scores, meaning that most of its customers scored as Passives (satisfied but unenthusiastic) or Detractors (just plain unhappy), would be wise to take a good hard look at their sales process from beginning to end: How does the sales rep interact with the customer? How many errors are they making when entering information into the system? Are their customers satisfied when the product/service is delivered?
Now for the good news. A high Net Promoter score means that most customers are Promoters, AKA loyal enthusiasts. Ding! Ding! Ding! Jackpot! Now the sales team can identify exactly which customers will keep buying and will make the best references. Understanding this, companies that use NPS encourage their sales team to think about ways they can improve communication with potential customers, reduce employee errors and produce a happier customer.
Whether or not your company is using NPS, customer satisfaction is an important KPI for every sales organization looking to fuel growth and achieve success. Another important element to take a look at in improving customer satisfaction is technology. Even scarier then remembering all those acronyms, is learning new technology and then – gulp – using it.
That is why Performance Support solutions are a welcome relief. Whether the user is handling a customer service inquiry or processing a claim, the system provides exactly the right guidance at each step, in real time. Similar to a GPS, it knows exactly what the user is doing and where they are in the process, and it responds with fast, accurate and actionable instructions or automation.
Here are three ways that performance support can help you increase customer satisfaction, improve your NPS and boost sales:
- Reduce employee errors
Employee errors have an unfavorable effect on customer satisfaction. From keying errors to compliance issues, just a ‘slip of the tongue' or typo can cause considerable damage and unwelcome costs for a company.
With Performance Support, your employees have instant and context-sensitive access to the information they need to do their job right the first time, every time, and with significantly less errors. With fewer errors, cost goes down and customer satisfaction soars.
Here is a real-world example of how a leading cable provider used performance support to reduce (in some cases eliminate completely) keying errors resulting in significant savings for the company.
- Improve customer service communications
Is your customer service team putting the customer first? Are they engaged and focused on the conversation? According to a survey by Corvisa Cloud, close to 40% of customers say they get scripted and robotic responses to their phone calls — and they hate it.
Customers want to be appreciated - they can feel when they have your full attention and when they don't. The more engaged your customer service rep is with a customer, the more you are showing them that you truly appreciate and value their business. Performance Support offers real-time guidance and automation so that employees are supported in their tasks and confident to perform at their best and provide better customer service.
Just look at what one inbound sales agent had to say after her company implemented LEO performance support:
“In my opinion, I think that LEO was really helpful in reminding me what OTC’s I should be entering. When you are nesting and just starting out on the phones, talking to the customer and keeping that great rapport can make remembering OTC’s challenging. Watching LEO do it gave me the ability to learn my OTC’s and still converse with the customer.”
- Minimize customer frustration
There are many, many ways in which you are annoying to your customers: Long hold times, confusing scripts, issues that aren't resolved in a timely manner, needing to repeat information – just to name a few. This is no laughing matter. According to Forrester Research a shocking 89% of consumers who experience poor service with your brand will leave for your competition. And the American Express 2011 survey reported that 78% of consumers have bailed on a transaction or not made an intended purchase because of a poor service experience.
Performance support solutions go a long way to alleviate customer frustration. Using in context, process guidance that adapts to the actual conversation, customer service reps that use performance support are able to offer the best solution quickly. Automation enables a seamless business process so that they can concentrate on customer rather than the system. Also, manual tasks such as reentering data are performed automatically - cutting down on call handling time and improving the customer experience.
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