Increase your business profitability – Track Your Customer Quotient

Most of the marketers grapple with increasing ROI from the Marketing Spend.
Problem is further augmented due to non subjectivity attached with marketing spend. Most of the marketers fail to categorize customers according to their potential.

Recently I came across a wonderful book – The Ultimate Question, written by Fred Reichheld which helps marketers to categorize the customer subjectively.

NPS, the system proposed by the author, is very easy. You just need 3 simple things to implement the system.
1. Systematically categorize customers into promoters, passives, or detractors. If you prefer, you can call them loyal advocates, fair-weather friends, and adversaries.

2. Creating closed-loop processes so that the right employees will directly investigate the root causes that drive customers into these categories.

3. Making the creation of more promoters and fewer detractors a top priority so employees up and down the organization take actions based on their findings from these root-cause investigations.
Find the detailed post at: http://netpromoter.typepad.com/fred_reichheld/