Why businesses should never settle
The current market is flooded with capable brands and products, and therefore it is important to focus on aspects of a business that ensure customer loyalty. Sourcing new customers is always a bonus, however, if you cannot keep current or previous customers, the exercise is redundant.
Many businesses spend lots of money attempting to attract new customers. Our Team at Velixo has found that by simply listening to our customers we can keep current customers and gain new ones. Therefore businesses should not settle on their laurels, regardless of current success. Growth is always possible.
What a Net Promoter Score can tell you about your business.
The Net Promoter Score is a commonly used measure for customer loyalty. Recently we conducted a customer experience survey to find out our NPS score and how we can improve our service and product. By asking “How likely is it that you would recommend our brand to a friend or colleague?” we have been able to gather extremely valuable information from our customers. Velixo is proud to announce we received a score of +67 and comments such as “If I could give it 11 out of 10 I would”.
What is the Power of Negative Feedback?
From reviewing every response, we were able to address any negative feedback or suggestions for improvement. By working on any perceived gaps in our business we were able to increase customer satisfaction, learn about areas of our product that customers want to be changed or enhanced and reflect upon our customer service experience (which will, in turn, increase our NPS score). Needless to say, self-reflection is vital for improvement.
‘Detractor clients’ (those who don’t give positive NPS feedback) can greatly impact the business’s marketing tactics and organic leads. Complaints, negative reviews and negative word of mouth comments are a few of the implications of Detractors. To turn a Detractor into a Promoter (those who give positive feedback) is an expensive exercise. However, the best way to do this is to listen to your customer’s feedback and embrace the suggested changes.
Our overall goal at Velixo is to make our customer’s life easier, to provide effective products and frequent support.
What we can learn from Positive Feedback?
A high NPS score means that you’re doing something great. Even if there are a few tweaks to make, something about your business is great. It also means the company can use referral marketing to increase new leads. Positive online ratings, customer reviews and word of mouth in a saturated market are very important to gain new leads and are the most trusted source of intel. For instance, many travelers will not stay at a hotel or Airbnb property with negative reviews, and this isn’t just the hospitality industry. Free publicity from existing customers is not only an efficient way to market but financially viable for any business, big or small.
Some of the positive comments we received along with the NPS results are the following:
- “We continue to be impressed with the Velixo tool”
- “The product does all the work. I just stand next to it and it makes me look good.”
- “Velixo reports have drastically reduced the amount of time it takes for my month-end financial statement preparation. I couldn’t be happier. Excellent product. “
- “I have created a whole new Executive Reporting package out of Velixo. Everyone loves it!”
It is comments like these that encourage us to not settle, but rather push our boundaries as a business and continue to make our customers happy.
We would like to thank all of our customers for completing our recent survey as we endeavor to continually improve both our product and service.