Satmetrix Press Release
Satmetrix Launches Net Promoter Fast Start to Help Companies Quickly Measure Their Net Promoter Score
Defined by Co-Developers of the Net Promoter Metric, Satmetrix — New Offering Builds in Best Practices from the Experts
FOSTER CITY, Calif., — May 2, 2006 — Satmetrix Systems, Inc., the leading global enterprise customer experience management (CEM) company and pioneer of the Net Promoter® Discipline, today introduced a new product, Satmetrix Net Promoter Fast Start™. The new on demand solution allows companies to measure their Net Promoter score in six weeks and take the first step towards implementing the Net Promoter Discipline in their company.
A part of the Net Promoter Discipline, the Net Promoter score is a metric, created by Satmetrix board member and loyalty expert, Fred Reichheld. Net Promoter Score (NPS) measures customer experience by using a radically simple question: How likely is it that you would recommend us to a friend or colleague? It allows companies to track promoters and detractors and produces the single most reliable indicator of a company’s ability to grow by measuring an organization’s performance in its customers’ eyes.
Comprising best practices refined over years of delivering Net Promoter implementations, Net Promoter Fast Start offers companies with time constraints and resource limitations a first step in the structured roadmap to a true customer-centric business focus. Net Promoter Fast Start enables companies to explore the Net Promoter Discipline to determine what it can do for their organization before making a full investment in a complete solution. The insights learned from this phase are analyzed and presented by a Net Promoter Discipline Certified Business Consultant then used to refine the solutions in an ongoing process of optimization.
“The right goal for a company that wants to break the addiction to bad profits is to build relationships of such high quality that those relationships create promoters, generate good profits, and fuel growth,” said Fred Reichheld, author “The Ultimate Question”.
According to Bain & Company research, in most industries, the company with the highest Net Promoter score has grown at more than twice the rate of the competition. Sustained value creators — companies that achieve long-term profitable growth — have Net Promoter scores two times higher than the average company. Further independent studies of Net Promoter, such as the one recently released by researchers at the Enterprise London School of Economics, have further proven the financial impact of Net Promoter.
The key to using Net Promoter to unlock the door to good profits and sustainable growth is to start by measuring it. Satmetrix offers people, programs, processes and technology to help measure and move Net Promoter scores in the right direction. With the introduction of Satmetrix Net Promoter Fast Start, companies can now get up and running in close to six weeks.
Net Promoter Fast Start allows companies to:
- Understand their Net Promoter Score, including referrals and purchase intent of customers, key drivers of customers who are ‘likely to recommend’ and a company’s competitive performance.
- Gain an understanding of the data to plan for next steps.
- Determine appropriate strategy for a full implementation.
”The Net Promoter Discipline is based on a unique metric that has been proven in industry after industry to be the single most reliable indicator of a company’s ability to grow,” said Tony Gaughan, VP of Products for Satmetrix Systems. “Net Promoter Fast Start takes all of Satmetrix’ expertise gleaned during the development of Net Promoter to quickly and efficiently get companies up and running with the goal of driving action to improve the customer experience and thus create more customer promoters and increased profitable growth.”
About Net Promoter®
Net Promoter is more than a metric to measure customer experience and profitable growth --Net Promoter is a discipline by which companies profitably grow by focusing on their customers.
Widely adopted and published in Harvard Business Review, NPS was created by Fred Reichheld, Director Emeritus of Bain & Company with Satmetrix playing a vital role in its development. Many leading companies such as GE have adopted Net Promoter as a standard. Further independent studies of Net Promoter, such as the one recently released by researchers at the Enterprise London School of Economics, have further proven the financial impact of Net Promoter. Satmetrix continues to develop and refine Net Promoter best practices for the Net Promoter community. For more information visit http://www.netpromoter.com/.
About Satmetrix Systems
Satmetrix Systems, Inc., headquartered in Foster City, Calif., is the leading global enterprise customer experience management (CEM) company. Satmetrix Systems enables organizations to achieve profitable growth by improving customer retention, increasing levels of satisfaction, and enhancing customer experience. The company puts real time, actionable information from an organizations customers direct to the right people in the organization, fast. Satmetrix Systems also provides industry thought leadership; it developed the Net Promoter® metric with Fred Reichheld, Bain Fellow and director emeritus. For more information about Satmetrix Systems, please call 650-227-8300 or visit www.satmetrix.com.