Hale: NPS promoters demand half the discount in sales negotiations
Tom Hale · SurveyMonkey's Secrets to Keeping Customers Happy for 20 Years · Oct 9, 2018 · at 7:02
Tom Hale, President of SurveyMonkey, shares findings from correlating NPS data with customer contract pricing and discounts.
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“Promoters demanded half the discount. When they talk to our sales accounts.”
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More from Tom Hale
Hale: Choosing between relational and transactional NPS is a false dichotomy
“Some say relational NPS is better for B to B SaaS. Some people say transactional NPS is better for e-commerce sites. I say phooey. Both are good. So, I think it's a false dichotomy. I think you should ask both.”
Hale: Only one in three businesses truly prioritize customer centricity
“We recently conducted a survey, this is like within the last four or five months, asking how many businesses really, really believe that customer centricity was really important, and it was about one in three.”
Hale: NPS leaders outgrow industry competitors by a factor of two
“In fact, in every industry, the NPS leader tends to outgrow the competitors by a factor of two.”
Hale: NPS promoters deliver three to eight times the LTV of detractors
“Promoters provide three to eight times the lifetime value of detractors, because why? Well, they cost less, they stay longer, they retain, and they refer friends.”
Hale: NPS functions as a risk management metric during business transitions
“This is an example of using NPS, not just to drive growth, but to map, to minimize risk. And so what we did is we looked at the NPS of our customers and measured it as we were making this four-quarter transition between, you know, subscription and transaction,…”
Hale: Detractors predict churn, advocacy predicts growth, and purchasing questions predict ARPU
“NPS is really great because it helps you predict where churn is. It's, it, you know, if you have, ah, detractors, it's really, it helps you identify who's gonna churn. Advocacy really helps drive, you know, this is, would you recommend this product or service.…”