Whilst NPS is powerful in measuring client loyalty, it also has power as a tool for upselling and ultimately increasing your growth.
What makes NPS so powerful?
As with any data point, your NPS is only as powerful as what you choose to do with it. Knowing how to harness this data could see your accounts grow through upselling and cross-selling your products and services, but to do that you need to know where to start.
Before you read on, if you need any information about what NPS is, please check out our blog on The Power of NPS.
5 steps to harness NPS for upselling
1. Survey your clients:
Firstly, you need to establish where your clients sit regarding loyalty. By asking your clients to answer the question, “on a scale of 0-10, how likely are you to recommend us to a friend or colleague?”
2. Segment your clients:
Your client responses can then be segmented based on the score they give you. Clients who score you 9 or 10 are considered promoters, while clients who score 7 or 8 are considered passive. Clients who score 6 or below are considered detractors.
You can find more on the meaning behind your NPS respondents scores here.
3. Primarily focus on promoters:
Usually we might suggest that you focus on your detractors. However, in the case of using NPS to upsell, focus on your promoters. These are your most loyal clients. Take the time to thank them personally for their feedback. Consider which of your additional offerings might be appropriate for this client and work with them to identify where you might be able to meet their needs. Having an open conversation will allow you to find these opportunities.
4. Address detractors:
Whilst upselling to your promoters can feel exciting, it’s important not to forget about your detractors. You should consider how you can approach these clients to understand their concerns and try to address them. Demonstrating that you are not afraid to face their concerns and are open to working with them is a step toward transforming a detractor into a promoter and brand advocate.
5. Use NPS to track progress:
Continued use of NPS will allow you to track your progress with detractors and ensure that your promoters are happy with any products and services you have upsold to them. Overall, the more effort you put into your NPS data, the higher rate of client loyalty you should see over time.
Want to know more about how to integrate NPS into your business reviews process? At Clientshare we have created a unique business reviews tool that integrates NPS and CSAT as standard to improve the way you deliver reviews, retain clients and grow contracts.
Check out our 30 second introduction to Pulse here.
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