The Net Promoter Score is a critical measure of a company’s performance. Rootsquared has shown that it is directly related to a customer’s future purchase intentions. Critically, we can also see that NPS is influenced by the fundamentals of a marketing offer, namely, Brand Strength, Service quality, Product / Service Functionality and Business Case (RoI).
But is that all there is?
Over the years researchers and have investigated the importance of other measures of success. From the early days of service quality to overall satisfaction. Much of the work at Rootsquared has looked at how firms work together and collaborate, and the importance of the strength of the relationship ie the Mindshare.
But in the highly transactional digital world, has the relative importance of the strength of the relationship to influence a firm’s performance diminished?
Does the level of Mindshare, the strength of the relationship, have an impact on a customer’s likelihood to purchase more from a firm?
This was the ‘Hey that’s funny’ moment.
Our researched showed that the strength of the relationship, Mindshare, has a major impact on a customer’s intention to buy more. Sitting alongside NPS, it was a critical determinant of customer’s future purchase intention.
We were anticipating that Mindshare would be relevant and a lot of the academic literature bears out the key importance, but we were surprised at how great a role it played.
At Rootsquared we help firms measure the strength fo the relationships, identify weaknesses and make recommendations where prioritized actions can lead to improvements.
If you’re ready to take an innovative approach to business development, get in touch to see how we could assist you.