The Redwood Shores, Calif. company that helped create the Net Promoter Score this week released an insights platform designed to improve customer experience programs.
Officials at cloud-based provider Satmetrix boast that the new product, Satmetrix NPX, puts a customer-centric view at the center of its software through the introduction of a "Customer Graph." Officials touted the Graph's single, integrated view of the customer journey that maps customer feedback directly to corresponding data.
The new platform offers a view of the "entire customer journey" by using high-volume, high-frequency customer data sets, according to company officials.
Net Promoter Backing
But let's back up. The road to this product release has been an interesting one for Satmetrix.
It starts 12 years ago, when the company teamed with "loyalty marketing" business strategist Fred Reichheld and Bain & Company to produce the Net Promoter Score (NPS) customer loyalty metric. NPS is based on the key question, "How likely is it that you would recommend our company/product/service to a friend or colleague?"
It's widely used but not without critics. Some say it does not provide a link to revenue growth for businesses. Others say it uses a scale of low predictive validity.
However, the Satmetrix team still stands behind it.
“We increasingly see NPS adopted as the customer metric in the key performance indicator (KPI) portfolio," Deborah Eastman, chief customer officer for Satmetrix, told CMSWire. "We also continue to prove the link between NPS and financial performance factors such as reduced churn, reduced cost to serve and overall growth."
The financial linkage is dependent on whether an organization measures NPS correctly, she added.
"An accurate NPS reflects the overall customer journey," Eastman said, "and includes the customer segments that matter most to growth."
Customer Experience Success
Eastman also said the NPS is used as diagnostics on a daily basis to "drive continuous improvements in customer experience."
"NPS," she added, "is an outcome of the experience you deliver, and has the power of engaging employees in making more promoters and less detractors.A properly designed NPS program collects continuous information from additional data to inform the business on how to improve NPS. The integration of these data sources, linked to the customer journey and disseminated throughout the organization, helps companies deliver a consistently reliable customer experience that drives growth."
She claimed NPS is not a research methodology, but rather an "operational measure of a company’s customers experience that provides a leading indicator into future financial performance."
Inside New Platform
Satmetrix officials said the NPS success promises more positive results in its new NPX platform. They call it "easy to deploy," a cloud application that helps companies run self-service capabilities and a highly configurable platform.
Company officials touted features such as personalized views, social sharing of analytics and automated re-publishing to social media.
The features include:
- Social sharing: Users can share reports with individuals or teams and monitor real-time results
- Text analytics: Users can click a button to view the comment themes over time, the sentiment of the comments and a "frequent words" chart to understand emerging themes for customers
- Reporting: Offers customizable reporting with a variety of charts included in the application
- Bring your own data: Allows integration of structured and unstructured data from multiple sources into a single unified CEM platform
“To deliver successful customer experience management, you need three things: robust software, quality data and the expertise to make sense of it all,” Richard Owen, CEO of Satmetrix, said in a statement. Owen called the new technology a game-changer that allows companies to be "pragmatic, proactive and responsive with their customer experience programs in ways that give them a competitive advantage."