While a technical background is a mandatory prerequisite for becoming a product manager, there are some technical skills worth having in your toolbox as a PM. The good news is you don’t need to go back to school to master these technical competencies either. The skills we’ll discuss in this article won’t put you in competition with your engineers or make you smarter than your system architects. But they WILL make you faster, more independent, and more knowledgeable about your product and your users.
https://community.uservoice.com/blog/technical-skills-every-product-manager-should-know/
NPS, CES, and CSAT are customer loyalty metrics. They’re used to measure the level of loyalty that a customer has toward your brand. Customers are considered loyal when they consistently purchase from your brand over an extended period of time.
How do you get loyal customers? A great customer experience (CX), of course.
In recent years, research by CustomerThink, Forrester, and Gartner have found at least 70% of business leaders believe CX will help their companies differentiate in a world where products and services are increasingly commoditized, and competing based mainly on price is not a viable long-term strategy.
An indisputable key component of a customer experience strategy is the Voice of the Customer (VoC) program, also known as customer voice. It captures, analyzes and reports on all customer feedback—expectations, likes, and dislikes—associated with your company.
In your VoC program, there are two types of customer data that you should collect: structured data and unstructured data. Today, we’ll discuss the three most popular customer loyalty metrics that fall under the structured category—NPS, CES, and CSAT—and the role that each should play in your CX strategy.
https://www.business2community.com/strategy/nps-ces-csat-which-one-is-the-best-metric-02242935/
In order to get feedback you can actually use to build a better product, you need to know the right questions to ask, and the right answers to look for.
Simply asking your users how they like your product is a waste of time because it will always get the same response.
https://usabilityhour.com/user-feedback/
One of the industry standards for determining customer satisfaction and loyalty is the Net Promoter Score system. If you haven’t heard of Net Promoter system, you’ve likely seen it in action: rating an experience or a product on a scale of 0 to 10. It is also the only industry satisfaction question to use a full 11-point scale. But do you know what each of the numbers actually means and how to use the question in a feedback experience?
https://www.questionpro.com/blog/net-promoter-score-system/
In this article, the author discusses 6 strategies that will help to raise your NPS and generate more revenues as a result of higher customer satisfaction.
https://solvvy.com/detractors-vs-promoters-improve-nps/
NPS or Net Promoter Score, is a tool used by businesses and entrepreneurs to measure the loyalty of their customers. By conducting an NPS survey, you can learn more about who your customers are, how they feel about your service, and what you can do to improve it.
NPS has become an extremely popular metric among companies both large and small. In fact, according to Bloomberg, two thirds of Fortune 1000 companies are using it today. Business owners are aware of the importance of getting to know their customers in order to satisfy their needs, and nowadays there are different ways to build customer loyalty and measure it.
So, what is NPS, and how can it help your business? Let’s take a closer look at how this tool can change the way you do business.
https://www.businessfirstonline.co.uk/articles/6-things-need-know-net-promoter-score/
For those of you who might be new to this, NPS is a simple one-question survey in which you ask your customer “How likely are you to recommend our product to friends or colleagues?”. Because NPS is a strong indicator of customer satisfaction across support, product, success, and more, it’s meaningful for all departments. Not only does it indicate how loyal your customers are, it also helps you gauge the entire company’s customer centricity.
https://www.business2community.com/infographics/dos-donts-nps-infographic-02023517/
If you’re not actively gathering customer feedback—and acting on this feedback—you’re losing out. Why? The happier you make your customers, the more likely it is that you’ll retain them. Bearing in mind that it’s six to seven times more expensive to acquire a new customer than it is to retain an existing one, I’d say you should definitely invest your time and effort into making the most of your customer feedback.
https://www.allbusiness.com/5-ways-customer-feedback-can-help-beat-competition-115931-1.html/
Many B2B companies use Net Promoter Scores (NPS) to evaluate customer outcomes and make important customer-related decisions.
The use of NPS scores attempts to distill diverse customers' complicated feedback about a company into a single score. It asks the question, "How likely is it that you would recommend our company/product/service to a friend or colleague?"
While helpful as a general indicator of customer sentiment, NPS scores alone provide an incomplete picture of customer relationships and often can lead to an imperfect understanding of the current health of a company's customers.
http://news.gallup.com/businessjournal/228047/ways-beyond-nps-fully-understand-b2b-relationships.aspx?g_source=link_NEWSV9&g_medium=TOPIC&g_campaign=item_&g_content=3%2520Ways%2520Beyond%2520NPS%2520to%2520Fully%2520Understand%2520B2B%2520Relationships/
The point is that each customer journey is its own unique story. From the supermarkets point of view when they look at the sales at the end of the day they will see my transaction amongst the thousands of others but they won’t know my story. Even if I got a prompt on my receipt to fill out a survey to enter a prize draw and I went and gave them an NPS rating, would they know any more about my customer story?
http://customerthink.com/evolving-customer-surveys-into-customer-stories/
Bookmarks on this page are managed by an admin user. 
