How many of your customers would recommend others to do business with you?
As performance consultants, Qeep are experts at how to measure the performance of organizations and people through the use of Key Performance Indicators - KPI. Over the last decade, one particular KPI has proved more and more relevant, when determining the sustainable performance of our companies – the loyalty of the company’s customer.
The migration of trade and shopping onto digital platforms such as Amazon, Alibaba and company homepages etc. has taught us how easily customers can click onto another product, if ours does not match their needs. Furthermore, companies like Starbucks, Apple and Tesla have taught us the benefits of creating strong loyalty via great customer experiences.
The new truth: A company is no stronger than the loyalty of its customers.
At Qeep we help you:
· Define your customer loyalty target – varies by industry, company category and size
· Create your customer loyalty index
· Collect your customer loyalty data
· Design your customer feedback development loop
· Implement your customer improvement tracking system
The ultimate KPI - NPS
At Qeep we recommend that you measure customer loyalty by the Net Promoter Score - NPS measure. For detailed description of the measure, please click: NPS
The NPS measure allows you to quickly and frequently check with your customers how they rate their relationship with your company. NPS provides you with fast feedback on whom of your customers are:
- Detractors and unhappy with your performance
- Passive advocates and okay, but not overly happy with your performance
- and then those who will actively Promote your business and products.
Presenting your staff, colleagues and stakeholders with a report like this, provides everyone with a quick overview and fast understanding of our current status.
Furthermore, the NPS measure allows you to react quickly to unhappy customers and to learn from those that are very loyal to you. This process is the “infinity loop” of NPS:
When you work with Qeep on establishing feedback and a tracking system, you will learn to manage Relational feedback and Structural feedback. The left side of the infinity feedback loop provides you with a process for managing the Loyalty Emergencies that occur when a customer provides a low score and a negative feedback. The right hand side of the loop provides a process for long term business, product and process development based on customer feedback.
In the middle of the loop, you find the “huddle.” When Qeep helps you set up your NPS feedback loop, we facilitate the establishment of huddle forums, at which managers and peoples regularly evaluate customer feedback and determine changes and improvement to be made. These decisions kick off the structural side of the process.
All in all, with Qeep you gain a complete system to target, track, develop and execute on Customer Loyalty.