Richard Owen, President and CEO of Satmetrix, had a lot to say at the Satmetrix’s 8th Annual Net Promoter Customer Experience Conference. At his keynote: Friends with Benefits or Enemies with Consequences: The promoter-driven economy and the next decade of innovation in customer experience, Richard explained that Satmetrix sees four important factors to the future of Net Promoter Score success in the new economy:
- Analytic models
We live in the information age where most all data is big – really big! Without search engines, we could not find anything in the oceans of information we have today. So Data – Big Data – is the first factor we must consider when thinking about NPS.
It is because of big data that we need analytic models to help us make sense of all the information. No human mind can sort through the terabyte, petabytes, exabyte, and more that we need to process. Only with analytic models can we turn data into information that we need to measure and monitor our customers’ journey to improve their experiences with our brand.
Analytic models are only the beginning. We need tools to optimized our models, test our strategies, and manage or business rules to enable our understanding and help us turn the information into strategic business decisions focused on how our customers experience our brand to increase adoption, retention, advocacy – and long-term sustainable market share and revenue.
And finally, our organizations need to adapt to these new ways of processing data, analytic modeling, and using the new decision management resources. This is a cultural change – a cultural revolution. If organizations do not adapt to the subscription experience economy we are in they will cease to be competitive or relevant.