CEO and co-founder of CustomerGauge, Adam Dorrell joined Shep Hyken on Amazing Business Radio this week to discuss how companies can monetize a Net Promoter System.
In the interview, Shep and Adam discussed some of the findings from CustomerGauge's 2016 NPS Benchmark Survey, which found that the NPS industry still has a long way to go in maximizing the benefits of a Net Promoter System. CustomerGauge's research found that 40 percent of survey respondents were not sure how much business they retain each year.
As a result of these findings, Adam discussed CustomerGauge's new "monetized Net Promoter®" approach that will not only help companies keep track of their retention rate, but also maximize the value of their existing customer base.
However, this doesn't just happen by chance. NPS is an actionable metric, which means that companies need to act on customer feedback in a timely manner—within 48 hours to 2 weeks according to the research from our latest white paper.
You can check out the full recording below, and the additional blog post here, which includes key takeaways:
A huge thank you again to Shep Hyken for inviting us to his show!