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Posts Tagged ‘client satisfaction’

Austin B2B Tech Marketing Company
The Net Promoter Score was introduced back in 2003 by Fred Reichheld with the purpose of helping companies measure and evaluate customer loyalty. A company’s Net Promoter Score is one of the most useful metrics for gauging the potential of organic growth in its customer base. In its purest form, Net Promoter Score can be described with one straightforward question:

“How likely is it that you would recommend (Company X) to a friend or colleague?”

It may seem odd in our world of complex metrics and overwhelming customer data, but this simple question around loyalty has been the driving force of game-changing improvements for countless companies.

Asking the Question

Let’s take a look at how the scoring works for the Net Promoter Score. Once you ask the question of your customers, they can answer based on a scale of 1 to 10 and the score is broken down into three categories:

9 to 10 – These are your Promoters. Also known as enthusiasts, promoters are your most loyal customers who keep buying from a company and urge friends, family and colleagues to do the same.

7 to 8 – These are your Passives. Passive customers are satisfied with what you provide but are not overly enthusiastic. If your customers fall in this category, they may be easy targets for your competition.

0 to 6 – These are your Detractors. Customers who had a poor or substandard experience with your company are in this category. Unhappy customers are also a concern because they may spread negative comments online or by word-of-mouth.

To calculate your company’s Net Promoter Score, take the percentage of customers who are Promoters and then subtract the percentage who are Detractors. The final number is your positive or negative Net Promoter Score. For example, if you had 65% of your customers listed as Promoters and 20% of your customers as Detractors, your score would equal +45. On the flip side, if you had 20% of your customers listed as Promoters and 30% of your customers as Detractors, your score would equal -10.

Why it is important
Now that you have a basic understanding of the Net Promoter Score and how it’s measured, let’s look at a few statistics from research done by Bain & Company.

  • Promoters account for more than 80% of referrals in most businesses.
  • Promoters generally defect at lower rates than other customers, which means that they have longer, more profitable relationships with a company.
  • Passives have a repurchase rate as much as 50% lower than those who are Promoters.
  • Detractors account for more than 80% of negative word-of-mouth.
  • On average, an industry’s NPS leader outgrew its competition by a factor greater than two times.

Launch Marketing’s NPS for 2014
As an organization that prides ourselves on providing exceptional services and results to clients, we take great care in surveying our clients on an annual basis to gauge client satisfaction. We are excited to announce that in the survey areas of Reliability, Flexibility and Professionalism, Launch Marketing received 100% Above Average to Excellent ratings from our clients, with a majority rating Excellent. Not only that, but more than half of our clients indicated that they are 10/10 (100%) likely to recommend us to clients, and more than two-thirds rated us 9 out of 10 and higher.

We were pleased to hear a great deal of positive feedback from our clients, but we think this sums it up best:

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In a benchmark study, of scores submitted in the B2B services sector, they average to a 61.6, and the highest submitted is a 70.3. You can understand why we are proud and thrilled to receive a net promoter score of +70.5 for 2014. To put our score further into perspective, according to a benchmark study by Satmetrix, companies with the most efficient growth engines operate with an NPS of 50 to 80.

As we continue to deliver turn-key marketing services focused on delivering leads and driving revenue, client success and satisfaction remain top priorities.

Need help surveying your clients to determine your Net Promoter Score? Contact Launch Marketing today! Be sure to follow us on Twitter and like us on Facebook to keep up with the latest B2B marketing tips and trends.

Speaking Your Customer’s Language

January 15th, 2015 by Jeff Mangels

Customers lan blog 2

Jargon. Lingo. Slang. Call it whatever you like but we all find ourselves using it. I was recently catching up with an old friend over lunch and realized that phrases like “digital marketing strategy,” “conversion rates,” and “audience segmentation” started to dominate our conversation. If you had been eavesdropping on our conversation, you would have thought I was talking to a client rather than a friend.

I found it funny how comfortable I was talking business with a friend who wasn’t “in the business.” He was gracious enough to humor me, but it got me thinking about how businesses tend to use jargon and marketing messages that simply do NOT resonate with the people they most want to connect with.

No matter what industry you are in or what your business is, you are providing a product or a service that people want. Your customers are not industry experts. You are. The trick is figuring out how to communicate your products and services in terms and phrases that your ideal customers already use. Another way to think of it is talking like your customers think. This is speaking your client’s language.

Speaking your customer’s language means paying attention to tone and voice. Are you overly technical in your communications where a straightforward approach would be much more effective? If your audience is technical, allow yourself to take on that voice. If you are an IT company and need to speak directly to the C-suite, you had better make the business case and speak to business ROI.

Speaking your customer’s language also means not hitting them with a barrage of industry-speak in an attempt to look smart. Don’t let your message get lost in a sea of buzzwords or technical jargon. We often become so familiar with our products and services that we lose sight of the layman’s terms that our customers are using. You will earn the trust of your audience when you can communicate with them the same way that they communicate with each other.

Not sure how to speak your customer’s language? The easiest thing to do is just listen to them! Your customers are out there talking about their problems and challenges. You just need to listen carefully.

Here are a few tips on better understanding your customer’s language:

1. Read industry publications relevant to your customers and understand how situations are described. Make your communications relevant to their needs.

2. Attend customers’ industry events and listen to the phrases and words used to describe challenging situations.

3. Track current and potential customers on social media. Monitor most used words on Twitter by tracking the relevant hashtags.

4. Join LinkedIn groups pertinent to your customers’ industry. Monitor the discussions and the words most used to address needs.

5. Broaden your knowledge by reading customers’ industry blogs, online articles, discussion boards, etc… See what people are writing about and what they care about

In marketing, before we can focus on pictures and design elements, we need to build our strategies and communications on and around current and prospective customers. Reaching your customers and connecting with them where they are is only half the battle. Once you’re there, you have to speak their language too.

If you need assistance evaluating your customer’s language or communication strategies, contact Launch Marketing today! Be sure to keep up with the latest B2B marketing tips and trends by following us on Twitter and Facebook.

 

Image via http://www.thereluctantspeakersclub.com/blog/2011/06/how-to-make-your-accent-work-for-you-when-you-make-a-speech/

Our 2013 Annual Client Satisfaction Survey Results are In!

February 26th, 2014 by Kathryn Drake

As part of our ongoing commitment to providing exceptional service and results to our clients, we annually conduct a survey to gauge client satisfaction. We have analyzed the results from our 2013 client satisfaction survey and are excited to share the findings!

Each year we ask our clients to rate Launch Marketing’s quality of services based on their personal experience. As a token of our appreciation, Launch Marketing makes a $20 donation to the Austin Children’s Shelter for every completed survey.

The results are in and we are excited to share them! A key question for us, since our business is primarily based on referrals, is how likely are clients to refer Launch Marketing to a colleague. We asked this question based on a scale of 1-7 with 7 being extremely likely and our average rating was 6.76! In addition, when it comes to quality of service, 100% of clients rated our reliability and professionalism as above average or excellent.

For quality of deliverables, 93.3% of clients rated our professionalism as above average or excellent (6.7% was unknown) and 100% rated value add and thoroughness as above average or excellent. Other highlights include:

What sets Launch Marketing apart from others in the market in terms of quality of deliverables?

  • “Consistency”
  • “Professionalism”

What sets Launch Marketing apart from others in the market in terms of quality of service?

  • “The work has been high quality and of great value to us compared to hiring an internal resource. The team has been easy to work with.”
  • “Timely, friendly, true partner.”
  • “Attention to detail, working within the client’s process and with the client’s team; highest levels of professionalism, availability.”

Other comments we were excited to hear included: “Great doing business with you, you save me time!” and “It is an extreme pleasure to work with such talented professionals.”

We love working with our clients and are excited to see that they enjoy working with us too. Here’s to another great year!