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Showing posts from October, 2021

Net Promoter Score (NPS): The best tool to boost an organization’s growth and success

  What is the Net Promoter Score (NPS)? Net Promoter Score is a renowned tool used by organizations to determine the customer satisfaction level that their products or services provide to them. The organizations use this tool to determine the level that the customers are willing to recommend their goods or services to other people. This tool was introduced with the motive to determine the organization’s performance, along with measuring the customers’ loyalty and satisfaction level. How Net Promoter Score (NPS) Is Measured- NPS is calculated based on the customer’s responses. Customers answer the questions on a scale within 1 to 10 ( where 10 is “extremely likely” and 0 is “extremely unlikely”. Based on the responses, customers are divided into categories as Promoters(score 9-10), Passives(score 7-8), or Detractors(score 0-6). Reasons to measure Net Promoter Score There are several tools used by organizations to check the performance of their goods and services, but the Net Promote...

The Importance of Survey Data Collection in Market Research

Let’s discuss some of the reasons why surveys are important for market research: Branding any product or service, naming it, and then testing Get detailed information about customer demographics Increase visitors and a growing number of sales Update product price according to market demand Measure customer satisfaction Many people think of a survey as a secondary option, they say our product and service launch comes first before any survey. But hardly they know that survey is a helpful tool to gain information about geography, personal taste, and preferences, it can be used to make your marketing strategy before the release of any product/service. Imagine you have a new marketing idea and you hesitate to take your first step because you don’t know what will be your customer reaction to it. This is the perfect time to run a survey program and know the required information such as whether to focus on any specific group or a state and so on. The Survey is a two-way gaining process, busine...