How likely are you to recommend a business to your friends or family?

 

This question is one of the most valuable to identifying the overall loyalty of a customer. It’s measured by the Promoter Score to give you an overview of the perception of your business. NPS Provides a single powerful metric for Customer Experience.

 

The Net Promoter System (NPS) is a customer satisfaction metric comprised of scores that measures how likely someone is to recommend your business on a scale from 0-10. 0 is very unlikely to recommend and 10 is very likely to recommend.

 

Net promoter scores are grouped by responses into three categories:
  1. Promoters
  2. Passives
  3. Detractors

 

Detractors are customers who score a 0-6. Passives score 7-8. Promoters are customers who score a 9-10.

 

NPS is measured by the ratio of positive reviews over the total amount of reviews, minus the negative reviews over the total amount of reviews.

 

For example, if there are 100 total responses, and 70 are Promoters, 20 are Passives, and 10 Detractors, then you take 70 -10, which equals a 60 NPS.

 

Low NPS measurements can motivate you to make changes, and positive responses push you to engage more and find out what exactly you’re doing right.

 

Along with NPS it’s important to collect both qualitative and quantitative feedback so we ask why the customer gave that particular score.

 

This open-ended text feedback is a great source of qualitative insights and gives the customer a chance to expand on their reasoning for their scores. Plus, it provides you excellent insight into where to make operational improvements.

 

Net promoter scores can be used in all businesses but can have a significant impact on emerging industries like cannabis.

 

Because cannabis is just establishing itself, there is not much data as to the best way to run a dispensary, it is a trial and error process. NPS gives insight and direction for dispensaries to make a change according to their customer feedback.

 

NPS is a key metric in customer experience management. With the importance of customer experience and the emerging technology for Customer Experience Management platforms in the cannabis industry, it’s important to understand and use your NPS to improve your dispensary and create a customer experience that gives you a competitive advantage.

 

At RipeMetrics we use NPS to automatically capture real-time feedback from your customers. It’s the quickest and easiest way to make data-based business decisions distilled from real customer feedback.

 

Sign up for a demo today to discover how RipeMetrics can help you on your journey to build a world-class Cannabis Customer Experience.

We are in a world that is rapidly evolving, and everyone’s cheese is constantly being moved.

Businesses in the cannabis industry are beginning to seek more information about Metrics- What are metrics, and why do many businesses think they are important to understand when running an operation? More notably, why do some businesses think they are the only thing you need to understand when running a business?

 Metrics are Key Performance Indicators (KPIs) that help measure a company’s overall performance, like measuring productivity, growth, and efficiency. In any good software platform, the key metrics are displayed on a dashboard giving the business owner the ability to follow operational performance, spot opportunities for improvement, and track trends.

 

Today’s technology is advancing at a blistering pace, and it means you’ll have more big business decisions to make more often. Keeping an eye on your KPI and metrics dashboard will help you make more informed business decisions.

Metrics tell a business the direction it’s heading, where it’s been, where there are problems and where the business is flourishing. They should support and reflect the various strategies for all aspects of your business.

 

This includes:

  • Customer Experience
  • Satisfaction
  • Finance
  • Marketing
  • Competition
  • Standards
  • And more

At RipeMetrics, we give you a suite of technology that focuses on the most important metrics to increase your sales and reduce marketing cost.

 

You can leverage your company’s metrics to understand and overcome low points in your business. As you see a trend down in business you can identify specific factors that may be impacting sales and take action to adjust your marketing message. Or, you can begin to reach out through different communication channels to help get average spend back on track.

Promoter Score (NPS) is a highly recognized measure for performance customer loyalty and satisfaction. 

NPS asks the question: 

“How likely they are to recommend your product or service to others”

Knowing these scores can give you an overview of the performance of your business from the perspective of the customer.

In the cannabis industry metrics can be used to measure quality of service of individual employees. With this information you’re able to address the specific concerns to each employee and bring attention to the areas where you can improve.

Metrics help to clarify performance expectations for your teams and for every role in your company. Overall metrics will improve your customers experience which directly benefits your businesses sales.

If you’re interested in learning more about how RipeMetrics can help your cannabis business make better informed decisions, increase customer satisfaction, and improve loyalty.. Sign up for a demo today!