Let's not kid ourselves, we all clearly understand how the difference between a strong, valued relationship and a competitive relationship with our clients feels. However, what's often missing is the discipline to measure and monitor the quality of their relationships. Worse, there is no organizational strategy to take action in a way that continually advances the relationships.
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Are you wondering how to improve forecast accuracy, predict future revenue and close more deals? In a recent survey, CSO Insights reports the following major barriers to a company’s ability to predict future revenue.
One common question that I'm asked is ... "how does new revenue growth result from achieving high NPS scores?" The fact is that Net Promoter leaders on average grew at more than twice the rate of their competitors.
At some point in the future, as a business owner, you might consider the sale of your company. You hire an investment banker and they do a deep dive on your business. He/she looks at the historical financials, new customer acquisition, retention and your ability to increase customer share. All of these things are yesterday’s news and while interesting, do very little to predict future revenue and EBITDA.
Profitable growth ... it's the oxygen of a company. Any organization looking for a silver bullet to grow their company should look no further than the Net Promoter Score Survey (NPS). NPS provides an economical and concise metric for assessing how loyal a company’s customers are. Effectively, managing that measurement is the key to future growth.
"A 5% increase in client retention can increase a company’s profitability by 25-95%." This may sound liked a bold statement, but let’s breakdown why committing to Net Promoter Surveys drive the client retention process.