In today's hyper-competitive world, where brand reputation travels at lightning speed on social media, understanding customer sentiment is no longer a luxury – it's a necessity. But how do you truly gauge these often-unspoken feelings?

Enter the Net Promoter Score (NPS), a simple yet powerful metric that can unlock the secrets to building a loyal customer base and propelling your business toward sustainable growth.

The Power of NPS:

• Predicts Revenue Growth: Studies show a strong correlation between high NPS scores and increased revenue. Loyal customers spend more, stay longer, and become brand advocates.

Identifies Promoters and Detractors: NPS categorizes customers as Promoters (likely to recommend you), Passives (neutral), and Detractors (unhappy and likely to churn). This pinpoints areas for improvement and helps you focus on your most valuable customers.

Actionable Insights: NPS goes beyond simple satisfaction surveys. The open-ended feedback reveals the "why" behind the score, providing actionable insights to improve customer experience.

Businesses that skip NPS miss out on the following:

• Early Warning Signs: Unidentified detractors can lead to silent churn, eroding your customer base without warning.

• Untapped Potential: Unheard promoters' voices can leave valuable feedback for product development and brand improvement.

• Benchmarking Opportunities: Knowing your NPS against industry standards helps you understand your competitive advantage.

In this newsletter, we take you through our approach to NPS studies and highlight the depth of our output.

NPS is implemented through a multi-stakeholder survey conducted periodically. It is a closed-loop feedback system where issues are analyzed in a “drill-down” fashion, actions formulated, and multiple rounds of follow-ups assess results on the ground.

At 1Lattice, we gather responses systematically through a “Driver tree driven approach” and deep dive into the reasoning for every response (depicted by L1, L2, L3, and L4 drivers).

Our surveys are conducted both face-to-face and telephonic interviews. NPS is a dynamic metric and ideally must be tracked periodically (3 months / 6 months / 12 months), the frequency of which varies by industry. We provide detailed insights into the periodic surveys with time trends to track upliftment.

To better understand our NPS approach, we have highlighted the following case study along with some illustrative outputs:

At 1Lattice, we have developed expertise in NPS studies. If you wish to understand your customers better and gain insights into what they really think about your brand, please reach out to us.

We would be happy to hear from you!