Increase user loyalty

 

How do you treat users and users treat you. Even in the harsh environment of the market, adhering to the positive benefits, to provide customers with better quality and services, can also increase user retention and increase market share. However, the negative benefits of users can only win short-term benefits, which is harmful to the long-term development of enterprises/products.

 

Net recommendation value(Net Promoter Score, NPS), was first founded by Fred ryknok, founder of Bain's customer loyalty business
Reichheld) The customer loyalty concept proposed in 2003 for enterprise positive benefits and real growth. The net recommendation value is equivalent to user satisfaction. As an "Warning Device" for enterprises, it plays an increasingly important role.

 

The net recommendation value is a survey tool that asks customers, for example, whether they are willing to recommend the company's products to friends and colleagues? According to the reply, the customer is divided into three categories: "recommender", "passive", and "negative". The recommender and negative user are users that have an impact on the company's actual product reputation. It allows us to see how many users will create a good reputation for us and how many users are criticizing us. The final score of the net recommendation value is obtained by subtracting the percentage of the recommender from the negative score. The net recommendation value above 50% is considered to be good. The survey shows that the NPS value of most companies is between 5-10%. If the value of the net recommendation value is between 70-80%, it proves that your company has a group of good customers with high loyalty.

Net recommendation value (NPS) = (number of recommenders/total number of samples) × 100%-(negative loss/total number of samples) × 100%

 

Satisfaction and loyalty are two different concepts. Simply put, satisfied users will still "Rebel ". High satisfaction only means that we provide features consistent with the product description and respond to user difficulties in a timely manner, but it does not mean that we have a competitive advantage or growth momentum. The net recommendation value makes up for this problem, avoiding our self-comfort to the product status quo with stricter standards, and truly focusing on the driving force and competitive advantage of product growth. This indicator not only takes into account the user's direct economic benefits (product selection behavior), but also considers the potential economic benefits (impact of product reputation) as the recommender ). Final Net Worth integrates the positive and negative effects of current users, which can effectively predict the long-term profit growth of enterprises/products.

 

The net recommendation value is not a simple user measurement result, but allows decision makers to take actions based on data, so that all employees can improve interaction with users in their daily work. The integrated NPS data is only the beginning. After obtaining the data feedback, the employee can understand and analyze the causal relationship, and find the correct execution method through further phone calls or lab tests, it is our goal to optimize the existing process and improve user experience. For example, how to reduce the negative loss after obtaining data? How can we find and solve the pain points of core users?

 

Reference material (Satisfaction + loyalty + brand ranking)

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