Do We Still Need Raving Fans?

Do you have Raving Fans?

I’m sure many of you have read , or at least heard of, the book Raving Fans by Kenneth Blanchard which was first published back in the 1900’s….hehe, 1993 to be exact. In this book, Mr. Blanchard illustrates that, regardless of your industry, creating loyal customers is not enough, it’s critical to turn your customers into Raving Fans.

In a Bain Consulting Study (https://lnkd.in/exFbtynm) done a few years ago, they found that the industry NPS (net promoter score) leader outgrew their competitors by a factor of two to one. What is a Net Promoter score you say? From their own website (netpromoter.com), Net Promoter Score®, or NPS®, measures customer experience and predicts business growth. This proven metric transformed the business world and now provides the core measurement for customer experience management programs the world round.

You calculate your NPS® by using a key question , using a 1 – 10 scale: How likely is it that you would recommend [mybrand] to your colleagues?
Respondents are then grouped into three categories:
* Promoters (score 9-10) are loyal enthusiasts who will keep buying and refer others, fueling growth.
* Passives (score 7-8) are satisfied but unenthusiastic customers who are vulnerable to competitive offerings.
* Detractors (score 0-6) are unhappy customers who can damage your brand and impede growth through negative word-of-mouth.
Subtracting the percentage of Detractors from the percentage of Promoters yields the Net Promoter Score, which can range from a low of -100 (if every customer is a Detractor) to a high of 100 (if every customer is a Promoter).

Unless you’re the Federal government handing out checks, where callers will wait for hours and hours on hold, you need to treat your customers with the love and attention they deserve. In today’s business world, with so much information at their fingertips, customers hold the cards to the success of your business. Certainly, your ability to solve a problem they have but don’t want OR provide a result that they want but don’t have is vital to business success. But if you truly want to grow your business, you have to place just as much emphasis on insuring that your customer experience matches, or exceeds, the quality of your offering. I’ve often stated, with much criticism, that I would always pick a restaurant with mediocre food and fantastic service over one that has fantastic food and poor service (don’t hate, just my opinion).

Anyway, thanks for playing and In the words of Eric Thomas…. Keep Grinding! #netpromoterscore #customerexperience #management #growth #business #success #smallbiztips #smallbusinessowner