How loyal are your customers?

What do your customers think of your business? Would they recommend you, your products or services to their family and friends? Calculate your Net Promoter Score (NPS) and gauge your customer’s overall satisfaction with your business and their loyalty to your brand.

Net Promoter Score is used by many companies to gauge the loyalty of a firm’s customer relationships and serves as an alternative to traditional customer satisfaction research. What’s more, it’s felt by many that there is a strong correlation between a high Net Promoter Score and company growth. Your NPS can be as low as −100 (everybody is a detractor) or as high as +100 (everybody is a promoter). An NPS that is positive (i.e., higher than zero) is felt to be good, and an NPS of +50 is excellent.

Calculating your Net Promoter Score

To calculate your Net Promoter Score ask your customers, most likely in a simple survey how likely they are to recommend your company to a friend or colleague, using a scale of zero to 10, with 10 being highest. Then work out the percentage of responses that scored your company between seven and 10, then zero and six. Subtract the zero-to-six percentage from the seven-to-10 percentage, and you have your Net Promoter Score.

You can also take the opportunity when surveying your customers to ask some further questions on how and what you can improve to potentially push your NPS even higher.

Would you like to join our Board of Trustees? Dorset Advocacy

Dorset Advocacy is a charitable organisation based at Poundbury in Dorchester. We cover the geographical area of Bournemouth, Poole and Dorset.

We work with people with physical disabilities, who have ill health or learning disabilities and people with dementia and autism. We make sure that their voices are heard and their rights are respected. We are passionate about supporting people to have choice and control in their lives. We have 30 advocates and 60 volunteers who supported over 4000 people over the last year. We are very proud of our achievements.

We are looking for 2 people who are willing to apply their professional skills to support our organisation. One of these roles requires someone with a strategic finance or accountancy background, to help us to appraise the viability of project proposals, diversify income streams, assist with our pricing models and help us plan for our long-term sustainability.

If you share our passion and could use your commercial, strategic, or financial acumen to support us to meet our strategic objectives, we would be delighted to hear from you.

Please contact our Chief Executive – Mike Pochin on: 01305 251033, to find out more.
For more information about the organisation please see our website:
www.dorsetadvocacy.co.uk

for more information on this blog contact Richard Wills (Trustee) richardw@dorsetadvocacy.co.uk

Street Support Re-launch (5 Oct 2018)

Bcars arms around 2Mary (not her real name) ended up on the street in her 50s because of domestic abuse – she found her way to Sleepsafe and off the street for the winter – one year later people have helped her get a flat, volunteer, learn new skills and regain her self-confidence – Good News… but what would have happened if she hadn’t had someone to help her find lcoal support.

18 months ago, charities and agencies working to help rough sleepers get off (and stay off!) the streets in Bournemouth had 3 challenges put to them;
– first – do we actually know what each other are doing to help
– second – people kept asking “what can we do?” – they wanted to help but had no idea how
– third, students from the University were saying “is there any help actually out there – there’s nowhere to find out who does what and when”.

Roll on to summer 2018, and these organisations including YMCA, Big Issue, Shelter, BCHA, Citizens Advice, Bournemouth Foodbank, Faithworks in tandem with the Councils, the University and Health teams have brought http://www.streetsupport.net to the town.
This one stop website brings into one place all the help in the town, and all the opportunities for people of goodwill to get involved.

And the impact – well, rough sleepers can get help quicker – advisors can flick onto the system and see who else is well placed to give help there and then; people who want to help can see the needs and volunteering opportunities that fit them. And we think this will really help local businesses to know how to respond to the issue of homelessness on their door-step.

On Friday 5th October, we start the next stage of the local Street Support story. Conor Burns, Martin Underhill and people from across all sectors of life are meeting to commit themselves to the project that is now conurbation wide, and to launch “Change for Good” – a simple alternative and independently managed way for people to give money to homelessness work in the town

There couldn’t be a more pertinent example of how change will only come when everyone can see how they can play their part. Come
along to the BCHA Factory in
Alderhills on the 5th at 2pm to be in on the next stage of town-wide transformation!” (https://bit.ly/2IkfYAH)

Alistair Doxat-Purser
Chief Executive, Faithworks Wessex

Who are your top customers by Profit or Life Time Value

Have you ever stopped and calculated who are your best customers?  It sounds simple but how often do you identify and rank the customers who drive the most profit for your business?

Ranking these customers from highest to lowest by Profit or Life Time Value lets you see which individuals or groups drive an outsized portion of your business results.  When you can look at a single list and see your main customers you have the power to identify the unique characteristics of your customers and work hard to attract more.  Is it who they are, where they live, or what they buy?

Knowing that answer can be more valuable than just making a sale. By focusing your customer service, marketing, promotions and sales offers you can build the long-term value of these customers.  You can also find more existing and new customers who share the same characteristics as well as empower these customers to become advocates of your business.

At e-nexus we specialise in Strategic Marketing Planning & Performance Measurement.  Need some help? Find out how we can help your business by visiting our website.

About the author

Richard Milton is founder of e-nexus – a Marketing Consultancy based in Bournemouth specialising in Strategic Marketing Planning and Performance Measurement.  He is a career long marketer holding numerous senior marketing positions throughout his 20+ years in the profession.

Describing himself as a marketing strategist, Richard spends his time working with business owners, managers and marketers to help them improve their marketing decisions, investments and impact by connecting data, insight and creativity alongside his strategic experience.