One of the most beautiful things about blogging is…and it’s cliché to say it…that it’s a conversation.
I start off a topic and then others engage, enriching us all.
So, too, with my recent post on using the Net Promoter Score to gauge the health of my (or any) business.
I was excited and proud of the fact that Never Stop Marketing scored an NPS of 78%.
Then, I got a comment on that post (and a follow up tweet) from Rob Markey.
It turns out that Rob is a partner at Bain (where NPS was invented) and the leader of the NPS Loyalty Forum.
What’s more, he was co-author of The Ultimate Question 2.0: How Net Promoter Companies Thrive in a Customer-Driven World.
So he knows a thing or two about the topic and he pointed me to this great case study (and video) of how Charles Schwab uses NPS not only to gauge the business’ health as a “snapshot” or diagnostic tool and also using it to provide a “continuous feedback loop” to guide the activities of the business.
I think the takeaway here is that you can (and should):
- measure NPS to get started
- start a specific set of activities to affect NPS (at all levels of the score range)
- measure NPS again
- figure out which activities drive NPS in which direction
- go back to step 2
It takes it from a nice piece of data to an actionable indicator for the future.
I’m planning on driving this with some of my clients and will, of course, report back.