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Innovating Analytics: How the Next Generation of Net Promoter Can Increase Sales and Drive Business Results - Hardcover
Synopsis
How does a CEO, manager, or entrepreneur begin to sort out what defines and drives a good customer experience and how it can be measured and made actionable? If you know how well the customer experience is satisfying your customers and you know how to increase their satisfaction, you can then increase sales, return visits, recommendations, loyalty, and brand engagement across all channels. More reliable and more useful data leads to better decisions and better results. Innovating Analytics is also about the need for a comprehensive measurement ecosystem to accurately assess and improve the other elements of customer experience. This is a time of great change and great opportunity. The companies that use the right tools and make the right assessments of how to satisfy their customers will have the competitive advantage.
Innovating Analytics introduces an index that measures a customer’s likelihood to recommend and the likelihood to detract. The current concept of the Net Promoter Score (NPS) that has been adopted by many companies during the last decade―is no longer accurate, precise or actionable. This new metric called the Word of Mouth Index (WoMI) has been tested on hundreds of companies and with over 1.5 million consumers over the last two years.
Author Larry Freed details the improvement that WoMI provides within what he calls the Measurement Ecosystem. He then goes on to look at three other drivers of customer satisfaction along with word of mouth: customer acquisition, customer loyalty, and customer conversion.
"synopsis" may belong to another edition of this title.
About the Author
LARRY FREED is the President and CEO of ForeSee, a customer experience analytics firm that measures satisfaction and delivers powerful insights on where to prioritize improvements for maximum impact. An expert on customer satisfaction across all touchpoints and at the brand level, Larry speaks extensively on the topic at private and public sector industry events and has been quoted in numerous publications and media, including CNN, the Wall Street Journal, the Washington Post, and Investor’s Business Daily, among many others. Larry is also the author of Managing Forward, published in 2011.
From the Back Cover
A satisfying customer experience is the driver of any business’s revenue growth. If you know how to measure and improve the customer experience, you will increase sales, return visits, recommendations, loyalty, and brand engagement across all channels. Over the past decade, Net Promoter Score, has become a Key Performance Indicator used by businesses all over the world, from small mom-and-pop shops to Fortune 500 giants. However, NPS has not kept pace with the evolving world of customer behavior and customer experience analytics. Enter the Word of Mouth Index (WoMI).
Innovating Analytics introduces and explains WoMI, a metric that measures a customer’s likelihood to recommend or to detract. Tested on hundreds of companies and more than 2 million consumers over the last two years, WoMI provides a more accurate and comprehensive measure of word of mouth and its impact on your business.
Innovating Analytics goes on to examine the four drivers of business success, why the customer experience matters, and the value of the Customer Experience Measurement Ecosystem. Through detailed guidance, it explains:
- What NPS is, what it does well, and how it is flawed
- How to use WoMI to identify a business’s promoters and detractors more accurately
- How to use behavioral data, feedback, observation, and satisfaction to predict customer behavior
- Best practices for improving customer experience
- How to use Big Data to improve the effectiveness of marketing and merchandising
This is a time of great change and great opportunity, and businesses desperately need more reliable and more useful data in order to make better decisions and achieve better results. Innovating Analytics offers the right tools to make the right assessments of how to satisfy your customers and gain a competitive advantage today.
From the Inside Flap
A satisfying customer experience is the driver of any business’s revenue growth. If you know how to measure and improve the customer experience, you will increase sales, return visits, recommendations, loyalty, and brand engagement across all channels. Over the past decade, Net Promoter Score, has become a Key Performance Indicator used by businesses all over the world, from small mom-and-pop shops to Fortune 500 giants. However, NPS has not kept pace with the evolving world of customer behavior and customer experience analytics. Enter the Word of Mouth Index (WoMI).
Innovating Analytics introduces and explains WoMI, a metric that measures a customer’s likelihood to recommend or to detract. Tested on hundreds of companies and more than 2 million consumers over the last two years, WoMI provides a more accurate and comprehensive measure of word of mouth and its impact on your business.
Innovating Analytics goes on to examine the four drivers of business success, why the customer experience matters, and the value of the Customer Experience Measurement Ecosystem. Through detailed guidance, it explains:
- What NPS is, what it does well, and how it is flawed
- How to use WoMI to identify a business’s promoters and detractors more accurately
- How to use behavioral data, feedback, observation, and satisfaction to predict customer behavior
- Best practices for improving customer experience
- How to use Big Data to improve the effectiveness of marketing and merchandising
This is a time of great change and great opportunity, and businesses desperately need more reliable and more useful data in order to make better decisions and achieve better results. Innovating Analytics offers the right tools to make the right assessments of how to satisfy your customers and gain a competitive advantage today.
"About this title" may belong to another edition of this title.
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Hardcover. Condition: Very Good. 288 pages. How does a CEO, manager, or entrepreneur begin to sort out what defines and d rives a good customer experience and how it can be measured and made actionable? If you know how well the customer experience is satisfying your customers and y ou know how to increase their satisfaction, you can then increase sales, return visits, recommendations, loyalty, and brand engagement across all channels. More reliable and more useful data leads to better decisions and better results. Inn ovating Analytics is also about the need for a comprehensive measurement ecosyst em to accurately assess and improve the other elements of customer experience. T his is a time of great change and great opportunity. The companies that use the right tools and make the right assessments of how to satisfy their customers wil l have the competitive advantage. Innovating Analytics introduces an index that measures a customer?s likelihood to recommend and the likelihood to detract. The current concept of the Net Promoter Score (NPS) that has been adopted by many c ompanies during the last decade?is no longer accurate, precise or actionable. Th is new metric called the Word of Mouth Index (WoMI) has been tested on hundreds of companies and with over 1.5 million consumers over the last two years. Author Larry Freed details the improvement that WoMI provides within what he calls the Measurement Ecosystem. He then goes on to look at three other drivers of custom er satisfaction along with word of customer acquisition, customer loyalty, and c ustomer conversion. Seller Inventory # 1513g
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