NPS® (Net Promoter Score®) is a system that allows you to understand which of your clients are promoters, and which are detractors for your insurance agency. A Net Promoter Score® gathered by asking your clients to fill out a simple survey to learn how likely they are to recommend your agency to friends or family. The statistics and comments you can gather from an NPS® campaign can be incredibly helpful, but what to do with those statistics and numbers is one of the most crucial steps to creating and retaining customers who will enthusiastically tell others how happy they are with your services.
Closing the Loop
Responding to your clients’ scores and comments is known as “closing the loop.” If you imagine your customer’s journey as a circle or loop, it begins with your customers’ interaction with you, and then continues when they respond to the NPS® survey. Closing the loop is the most important step in your customer’s journey. Ideally, you’ll be constantly running this loop throughout your business. We recommend that you look for ways to incorporate customer feedback as part of the general customer experience for both your customers and your team.
Why is this the most important step? It allows you to directly reach out to your customers and connect with them personally. By really listening to what isn’t working—and working to address their issues—you can turn clients who would have left (called Detractors) into a loyal client base (called Promoters).
In the sections below we’ll cover actionable things you can do right away to boost customer retention.
NPS® Score 0-6: Detractors
Detractors are the group you want to make sure you address right away. They are just plain unhappy with the product or service they received. Ideally, you should reach out to them within 24 hours to address their issues.
Why is a 24-hour timeframe so important? Studies have shown that Detractors are very vocal and comprise approximately 80% of negative reviews online. These are also the people who are most likely to leave your business and tell everyone about it on their way out the door.
Reaching out to your Detractors can be intimidating, but it can have the most impact on your business. Take these steps to help turn Detractors into Promoters.
- Always thank them for being a client and taking the time to respond to the survey.
- Ask them what their reason for their low rating if they didn’t already indicate this in the comments.
- Acknowledge their issue and listen deeply to what the problem is.
- Come up with a plan to resolve their issue. If you’re not able to solve the problem right away, don’t be afraid to admit it; what matters is that you’re willing to try.
- Most importantly, make sure you actually resolve their issue, and that you follow up to let them know.
NPS® Score 7-8: Passive or Neutral
Passive customers, sometimes called Neutrals, are your middle-of-the-road clients. They’re generally content with your service but they’re not wowed by it. Here are a few steps you can take to help turn Passives into Promoters.
- Reach out and thank them for taking the time to respond to your survey. Mention that you noticed that they’re happy, but not thrilled. Ask them why, and listen to any pain points they have.
- Acknowledge their feedback and decide what actions you want to take. Most importantly, make absolutely sure you take those actions and follow up with them after.
- Take this opportunity to make sure they have all the coverage they need and inquire about any life events that may indicate that more insurance is needed.
NPS® Score 9-10: Promoters
Promoters are your most loyal clients. They already sent a rave review, which is great! You don’t need to do anything else, right
Nope. Retaining your Promoters is every bit as important as winning over your Detractors.
The best thing you can do is to thank them for their loyalty. A personalized thank-you card and gift is a great way to show your promoters how much you appreciate them. These are also the people to ask for referrals and positive reviews on Google. Ask them with a no-pressure, simple request, and you’ll probably be surprised by how many are willing to help you out.
Learn More About Launching an NPS® Campaign
There are many ways to go about setting up and launching an NPS® campaign, but few insurance agents have the time and resources to research and set up one on their own. That’s why our Fuse™ product includes a pre-built NPS® quickstart campaign to help you understand how your clients feel about your agency quickly and easily. Schedule a demo of Fuse™ today to learn more about the NPS® campaign and other pre-built campaigns designed to help you build relationships and grow your agency.