Here are the 3 most important questions you should always ask your business customers to increase your account retention.
- How likely are you to recommend this product or service to a friend/colleague?
This is single handedly the best and most important question to ask your customers. When you recommend products or services to your friends, you don’t mention average companies; you mention the ones that exceed expectations.
If you find out a lot of your clients are giving you 9’s and 10’s, you know that you’re doing something right. We call those people ‘promoters’. Keep doing what you’re doing and encourage these clients to recommend your business to other businesses.
If you get back 7’s and 8’s, you know that you’ve got a little work to do. These are ‘passive’ clients and they typically have the mindset that everything is okay and there isn’t a big enough need to switch vendors. However, if you reached out to these clients to write a review or introduce you to other businesses, they would most likely decline.
If you get back any number between 0 and 6, you’ve got yourself a detractor. These clients are going to be the ones that give you negative reviews and that don’t recommend your business. You need to come up with an action plan to move them to passive or promoters. These clients are often the ones that leave and go to the competition.
Why does Net Promoter Score matter?
Client Retention and client churn can happen for other reasons outside of the net promoter score. However, this metric gives us great insight into the voice of the customer. If a client is a promoter; we know there is a very good chance they’ll renew our contracts. If a client is passive; we know we have work to do, but we also know that the client is relatively happy. If a client is a detractor, we know that we must provide them with additional support to prevent losing them.
- Which other options did you consider before choosing our product and/or service?
This is a great question to ask immediately after the sales cycle. Also, you could use this question if you upsold a current client on additional services. We want to get a clear understanding of what other companies the client was considering prior to choosing us. Was it a specific feature? Did the price sway the client? Did the online reviews help us?
The answer that they provide will help us plan for the future. In order to stay ahead of the competition, we have to obtain a clear understanding of what matters most to our accounts.
- What else would you like us to know?
This is a nice opened ended question which allows your customers to provide additional feedback. We find that if you have not asked more than 15 questions prior to getting this one, you will typically get a transparent response. If you have exhausted your assessment taker, the likelihood that they answer this truthfully diminishes.
Also, you’ll want to take into consideration where the customer is within the product lifecycle. Are they a long-standing client? Did they just go through onboarding? How many other projects do they current have on their plate?
The answers you receive to these questions will likely vary, but often patterns will emerge. Be prepared to create action plans on the outcome of the assessment.
In addition, a few other questions that we often suggest to include:
- If you could change just one thing about our product or service offering, what would it be?
- How satisfied were you with your last experience with us?”
These are great questions to ask and can easily be switched out for #2 and #3. These are a little more specific and they don’t require as thoughtful of a response. If your customers are willing to fill out long assessments, you can easily include these.
Prior to sending your customers assessments, always make sure they’re aware they’ll be receiving one. We see the highest response rate in our assessments once the company or account manager has socialized the assessment to their clients.
Ultimately, it comes down to obtaining actionable information and then executing the strategies and tactics to retain your customers!