OpenMic® Net Promoter Score™ Solution
Understanding the Sentiments behind the Scores
Many companies have been successful in measuring Net Promoter Score (NPS™) program results as a periodic benchmark to drive unified action and to make occasional improvements. When implementing a NPS Program, do marketers immediately ask or analyze a follow-on question about WHY customers responded the way they did? Are they soliciting and reporting NPS on a quarterly basis much like a periodic customer satisfaction survey? If so, there is an opportunity for marketers to immediately collect and analyze additional information upon each touch point used for customer feedback (i.e. call to service center, surveys, forms, etc.). By collecting open-ended answers verbatim, in real-time, marketers can better understand the drivers (aggregated or individual) of customer loyalty, to initiate direct action to solve issues, and to decrease customer churn rates.
Why Are Promoters, Promoters and Detractors, Detractors?
Developed by Satmetrix, Bain & Company, and Fred Reichheld, Net Promoter Score has been embraced as the standard for measuring and improving customer loyalty. Net Promoter Score is based upon a single survey question, "How likely is it that you would recommend our company to a friend or colleague on a scale of zero to ten – ten being most likely?" In addition to being seen as a loyalty metric, it is a discipline for using customer feedback to fuel corporate growth and ultimately holds companies accountable for how they treat customers.
Overtone’s™ OpenMic solution helps companies to go one step further by helping them to identify, in real-time, the key drivers behind their Net Promoter Score and to quickly develop an action plan to address customers' needs. OpenMic is an integrated listening system that extracts actionable intelligence from unstructured customer-generated content and therefore provides the best approach to understanding the sentiments behind the Net Promoter Score. With these actionable insights, marketers can better assess individual loyalty and quickly resolve potential issues closer to the time of interaction. And, Open Mic allows marketers to solicit from all touch points and to quickly analyze large volumes of sentiments.
OpenMic – How It Works
OpenMic analytics clearly explain, in consumers’ own words, the specific aspects of their experience with a company’s products or services that cause them to be promoters or detractors. Consumers’ feedback, in the form of open-ended verbatim answers, is coded into categories that are correlated to Net Promoter segments. For example, a marketer might learn that promoters love a company’s tech support but that detractors are alienated by pricing.
OpenMic Automatically Collects, Analyzes and Reports In Real-time
Even with thousands or millions of customers, marketers don’t have to wait for periodic reports to trigger action and in the right context to make customers happy. OpenMic analyzes every Net Promoter Score response and comment in real-time and can immediately trigger a response to a call center for follow up, respond directly to the customer with a personalized offer, or route a specific Net Promoter Score response to an individual or group.
Overtone’s NPS solution is always scanning, calculating, and analyzing emerging topics of concern from customers that participate in NPS programs. Should the OpenMic system see that there is an emerging issue that can impact Net Promoter Score, it will send marketers automatic alert. Examples might include product quality or service issues in need of immediate attention or a new product release from a competitor.
OpenMic can identify and track changes in tone, most critically, with unsatisfied promoters. Is there a negative tone trend in promoters? If so, Overtone will identify the trend and explain changing customer sentiment before it impacts a business. If listening and responding to direct customer feedback is good business, shouldn’t you be listening too?”
*Overtone and Open Mic are trademarks of Overtone, Inc.
*Net Promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld.
