So, Black Friday has come and gone, and you have made it out to the other side.
Well done! Pat yourself on the back for navigating your store through the chaotic waters of customer demand and (hopefully) making a success of it!
However, the job isn’t over yet.
Most businesses make the mistake of thinking once BFCM weekend has passed and their store has been rightfully depleted of all its stock, they’ve walked away winners. But they fail to remember empty stock shelves, so to speak, don’t equal happy customers.
And we’d bet that most businesses don’t do their due diligence to determine what customers really think post-BFCM.
Well, that’s where NPS comes in.
What is NPS? We’re going to tell you. And we’re also going to tell you how you can use NPS after Black Friday to get into the minds of customers and use what you find to drive customer retention and repeat revenue.
What is NPS? How is it measured?
Net Promoter Score surveys measure customer loyalty by identifying customers as promoters, passives, and detractors. Essentially, NPS data is captured by asking:
“How likely are you to recommend xxx Company?”
Customers then answer on a scale of 0-10 (0 being the lowest and 10 the highest) which is then used to calculate your NPS score and identify the promoters, passives, and detractors of your brand.
Promoters are those who answer 9 or 10 on an NPS survey. Passives are customers who answer 7 or 8 on an NPS survey. They’re not likely to harm a business with negative word-of-mouth, nor are they likely to recommend the business. They’re just unenthusiastic and may switch to a competitor who offers something new or more exciting.
Detractors are customers who rate your brand between 0-6. Detractors are unhappy with the company and are likely to share their negative experiences online and with friends and family.
NPS has evolved into a useful tool that manages your customers' experience with your business. You’ll be able to regularly contact your customers, understand their grievances, remedy them quickly, and ultimately, endeavour to manage and maintain as much of your customer base at the promoter level as you possibly can.
How can you use NPS in the wake of Black Friday?
When analysing your NPS after BFCM, ideally, you are looking for the score and the comments your customer gave to provide actionable insights.
Actionable insights are concrete findings you can use to meet customer expectations, keep doing more of what is working and improve what isn’t. Wherever possible, you should seek to gather information that you can use to manage your customers’ overall experiences with your company positively.
You can take it one step further by using Omniconvert’s Reveal to implement triggered follow-ups with customers based on their specific NPS score. Reveal gives you customer insights into critical customer journey moments and helps to uncover improvement opportunities inside your business using the NPS tool.
Positive triggers should lead you to ask happy customers to share their feedback over social media and platforms. Negative triggers should drive immediate actions by directing unhappy customers straight to the relevant role players to remedy the issue. And thanks to Omniconvert & Gorgias, speedy responses to negative reviews are easy! Omniconvert Reveal collects customer responses through NPS surveys & divides customers into RFM Segments. At the same time, Gorgias creates a framework that helps your support prioritise responses depending on the NPS score and RFM segment. This means you can offer real-time support, satisfy your customers, reduce churn, and better manage customer experience!
But let’s explore a few practical ways of leveraging NPS to its full potential after BFCM!
Customer Lifetime Value is a great tool to determine your business's present and future success. By measuring the net profit you’ll take in throughout your entire relationship with a customer, you’ll be able to narrow down exactly how valuable they are to your business. Omniconvert’s Reveal is the perfect candidate to help you do this since it’s built entirely around CLV and Customer Value Optimization (CVO).
Using NPS as an integral tool, Reveal’s CVO powers help retailers acquire, segment, monitor and nurture their customers. Thanks to its monitoring prowess, it generates crucial insights about customer behaviour, buyer habits, and satisfaction – helping you retain your most valuable customers and generate more just like them!
Increase Cross-Selling and Upselling
Promoters buy more than Detractors, of course. Meaning that you’ll be able to effectively target your marketing and sales efforts to those more likely to be responsive to cross-sells and upsells.
An effective way of doing this is by creating an email flow in Klaviyo that requests an NPS score from existing customers. By pulling the NPS metric into Klaviyo, you can successfully create a flow where the first email asks customers to rate their latest purchase experience with your brand from 0-10.
Then, once customers have shared their ratings with you, you can begin to target your Promoters and Passives with tailored emails that recommend alternative products to encourage repeat purchases and revenue.
Should you not use the Gorgias integration, you can give those customers easy access to customer support in follow-up emails.
For example, should customers rate 0-6, they would be sent to customer service, while those rating 7-8 would be the next level up, and those rating 9-10 would be your biggest fans. How you divide customers up would be entirely up to you and what suits your brand.
Increase in Referrals, Leading to Increased Customer Acquisition
Like with cross-selling & upselling, Promoters are also really great candidates for seeking referrals to new customers. This method of incentivising can often work better than standard discounts.
Once you’ve identified your Promoters via your Klaviyo NPS Request Flow along with REVEAL, you can send these customers emails incentivising referrals to friends and family. And since Promoters are big fans of your brand already, it is highly likely that they will be the vehicles that boost your customer base!
Increased Customer Retention
Use NPS to retain the customers loyal to your brand (and get them to spend more) and improve the customer experience of unhappy customers! You can take action with Detractors by directing them to customer service, incentivising them to get them to stay, as well as to encourage purchases. This way, you convert them into happy customers!
On the other hand, give your happy customers even more reason to stay by encouraging them to sign up to your loyalty program and subscriptions (if you offer those). Take it one step further by offering customers a discount for signing up and off of their first subscription order!
Measuring and Understanding
Conducting regular NPS surveys means that you will be more aware of the percentage mix of Promoters, Passives and Detractors in your customer base, and can measure the changes that any of your initiatives (e.g. product changes) effect, and also identify when any disruptive changes occur.
In many industries, you can easily measure and compare your NPS score to your industry competitors and benchmark yourself against these companies, finding areas of improvement and honing in on what is getting you the most success.
PR & Marketing
Achieving a high NPS that compares favourably versus your competition is something that you can use to promote your company through marketing and PR activities, attracting new customers to your company impressed by this and also letting your existing customers see that they have made the right choice!
Give your customers an experience of a lifetime
People like to think that NPS is a purely transactional metric. But it’s much more than that. NPS is a relationship metric. When a customer gives you a score, their score reflects their perception of the overall brand experience and not of an individual or team.
Call us crazy, but we like to think of ourselves as customer experience experts. That’s why we strongly believe in NPS and its power to bring lifelong customers to your door and drive consistent growth for your brand.
If you’d like our team to take a deep dive into your brand’s customer experience and see where we can help you improve, get in touch with us today to book your Customer Experience Audit!