Why Customer Success-Powered Growth Starts With Executive Buy-in
The Case for Executive Buy-in For an Advanced NPS Program
Growth-savvy customer success experts agree that creating a customer-first culture begins and ends with executive buy-in. While it's clear that executives should focus on only four or five key business initiatives—not try to do everything—one of those things should undoubtedly be championing customer satisfaction by supporting an advanced NPS program.
Here’s why: According to The 2018 NPS Benchmark Study, when high-level executive support is present, an organization is twice as likely to successfully build an advanced NPS (Net Promoter Score) program.
And as we discussed in an earlier blog, an advanced NPS program doubles your likelihood to achieve both 100%+ growth and net-negative churn.
Still Room For Improvement
While many executives have expressed support for customer advocacy, this has yet to translate into the majority establishing an advanced NPS program.
Even worse, companies that lack high-level support for NPS tend to experience both higher customer turnover and significantly lower revenue growth.
Why are so many executives missing the opportunity for growth?
Most likely, busy executives don’t understand the true impact that an advanced NPS program can have on their business. They might think it’s enough to hire a customer success manager and let that department, or marketing, lead the charge. The issue is that this silos your customer advocacy program and does not drive a culture of customer advocacy.
Executives with advanced NPS understand that they need to lead customer advocacy from the inside out.
Quantifiable vs Non-quantifiable Outcomes
All executives want their employees and themselves to have a level of pride knowing that their customers are happy. While that seems non-quantifiable, using NPS to action customer feedback does just that. Using an automated system to continually drip out surveys along the customer journey, and deliver real-time customer feedback to the front line staff can help drive pride in overdelivering on customer expectation.
According to the benchmark study, successful executives know that NPS best practices (combined with the best NPS software) unlocks:
- Operational integration to measure and impact ROI
- Lower customer churn and higher revenue growth
- Increase in sales / upsells and referrals
- Assessment of both customer and employee experience
- More reviews and testimonials
Customer success experts agree, and data supports the need for executives to champion actioning feedback. Growth happens when you create advocates. Advocates happen when you have robust support from executives.
Internal culture change doesn’t happen in a vacuum. It starts at the top. It’s up to executives to lead the charge and take NPS out of the boardroom and involve the entire team.
What to learn more about NPS benchmarks and how you compare?