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This One Number Gauges the Health of Any Business

by | Jul 17, 2019

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When subscribers love your WISP and the service you provide, they become the best salespeople; your WISP promoters.

Have you ever taken a survey that asks just two questions? The first question reads something like: 

“On a scale from 0 to 10, how likely are you to recommend [BUSINESS/PRODUCT] to friends, family or colleagues?”

If you answered this question it was quickly followed by a second question, “What’s the reason for your score?”

A survey like this is designed to get an accurate and meaningful response based on a customer’s perception and experience with a business or its products. 

The customer’s score is categorized to determine how well you’re perceived – not what you think and feel your subscribers’ perception of your WISP is, but what they actually think and feel about your brand and services. 

Why is this important?

Subscription-based businesses like WISPs depend on subscribers’ patronage to generate long-term revenue and wealth. Positive results from a survey tell you you’re on the track to build a strong subscription-based business and the residual income that drives your ultimate wealth.

When you have clear indications of which subscribers love your WISP, they can become your best salespeople. Then, you’ll know who to ask for a testimonial that you’ll be proud to share on your website. 

The survey results give you a Net Promoter Score® (NPS), a number that businesses pay attention to when they want to gage the business health of their organization or want to identify who will be their best promoters.

Read on to find out how to apply NPS’ straight-forward, profit-generating principles to grow your WISP.

What is the NPS?

It’s a number that measures customer satisfaction and predicts business health. The NPS is a calculation of survey responses from customers based on their experiences with a company. 

What is an NPS Survey?

The survey presents two questions to determine your best customers – salespeople, (WISP promoters) and whether a WISP’s service satisfies its subscribers and how to improve it.

Why are there only two questions?

Because it’s a very short survey, it doesn’t require a large time commitment and more subscribers will complete the survey.

Determine your business health and the subscribers who promote your service using a simple score.

Which question should I ask?

Position the first question on a customer’s experience, like how satisfied they were with a repair call or installation. The question should ask for a response on a sliding scale of 0-to-10 and ask about the likelihood that a subscriber will refer your WISP:   

 

“Based on your recent repair call, how likely are you to refer friends and family to Your WISP Name?”

You can send a survey whenever your subscribers are in contact with the WISP – make sure the question is specific enough to the situation.

The second question is, “What’s your reason for the score?” The responses uncover the things that your subscribers care about – prompt response, etc. – and areas where you can improve.

What do the scores mean?

Subscribers who score their satisfaction from zero to 6 in the first question are Detractors, those who score in the 7 to 8 range are Passives and 9 to 10 are your WISP’s Promoters.

  •         Promoters are loyal and enthusiastic and may refer friends and family.
  •         Passives are satisfied but not motivated to promote your WISP.
  •         Detractors are unhappy and can damage your WISP’s reputation.

Work with detractors to discover why they’re dissatisfied and how you can make them happier with your WISP.  

Calculating the NPS

Subtract the percentage of Detractors from the percentage of Promoters to get the NP Score. The highest score you can have is 100 when you all your subscribers are the highest Promoters. The lowest score is -100, when all your subscribers are Detractors.

The closer the number is to 100 the healthier your WISP’s foundation because there are subscribers who are delighted by your WISP, or at least will continue to do business with you.

If your score is close to or under zero, it’s time to look at your customer service and network stability.

How do I use NPS?

Subscribers who are in the 9 and 10 range are your promoters. Create a database to ask for testimonials or referrals. Or, send a note requesting they share their experience on Facebook.  

 Promoters can be as effective as a well-trained sales force for your WISP. Keep them happy, provide great service, value them and they will reward you with referrals that can be the building blocks of your WISP’s growth.

But, if there are subscribers below the promoter level, there’s a process called Closing the Loop that allows you to create more WISP promoters. Keep an eye out for the article in next week’s Success Blog!   

Learn more about how Visp.net, the blog author, is committed to exceeding your expectations. To catch up on the latest business growth principles, check out more of our original WISP-centric blogs here.

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