Combining Net Promoter Scores with Revenue inside Salesforce
Take advantage of the power of your CRM solution by combining your survey’s Net Promoter Score (NPS)* with existing Account Revenue data. Why is this not done more often? It’s because a “loyalty” score is intangible and very difficult to show visually on reports!
Here’s how to combine your NPS survey data with Accounts and Opportunities in Salesforce to better understand how a change in a survey score can significantly impact a company’s bottom line.
Let’s begin by setting three levels of visibility. Step 1 will be visible to everyone by putting the score and revenue figures right on the Account record. Step 2 will be visible to Managers who need summarized data on the health of accounts. Finally, Step 3 can be used by executives to see long-term trends.
- Account-level visibility
Create a visual link between NPS and overall account revenue. This data is updated anytime an NPS survey is taken by any contacts associated with the account, or a new opportunity is closed/won.
The significance of placing aggregate data on the Account level is easy company-wide access to this information. By linking a dollar amount at a glance, we’re giving more power to account managers dealing with these accounts on a daily basis.Further, this information is not displaying the last survey or last opportunity, but rather it includes the true NPS formula (described here), and all “Account Revenue” which is a Roll-Up Summary (SUM) of all opportunities set as “won.” Therefore, it is using statistics from across the account, not just displaying static data. In our example, Company B’s NPS score is a negative 40. If this trend continues and the client leaves, we stand to lose $350,000 next year.
- Manager-level visibility – Dashboards
Step two of our analysis is viewed in Salesforce Dashboards. By looking at multiple accounts at once we can spot trends in the NPS score and how it relates to recent opportunities. Conversely, additional charts can be set up showing lost opportunities with their respective scores. To create this Dashboard in Salesforce requires a Matrix table; just add NPS scores, Company Names, and Annual Revenue into the matrix to create your chart. This information is useful when reviewing multiple accounts, but it lacks trending. To overcome this, we have to look at an account over a period of time, as shown in the executive-level visibility below.
- Executive-level visibility – Dashboards
By viewing a single Account over a period of time we can instantly see revenue levels and how scores fluctuate over time.First, let’s standardize the dates on these reports. To accomplish this, we recommend creating a formula that converts completed survey data into a Quarterly Q1,Q2,Q3,Q4 format (e.g., January, February, and March would be Q1 in the formula). This standardizes your data across all reports and makes seeing upward or downward trends much easier to follow.
If you are asking an NPS question at different touch points in your customer journey, then you can use the Q1-Q4 format to segment data from multiple dates into an easy-to-read report. On the other hand, if you only deploy your NPS survey once a year, you would just group by year. However, this makes immediate follow-up on low scores more difficult. We recommend asking the question more frequently than an annual survey. Let’s face it; what gets measured gets done – and acting on low scores can make the difference between renewals and a loss on next year’s reports!
This graph indicates an account that started as a Promoter (9) in second quarter of 2014, however, has been slipping gradually (and may not have noticed) into a Passive (7) and finally into Detractor (5) phase in the second quarter of 2015. Company B accounts for $350,000 in sales in both years and trending this way, may not renew in the upcoming year. Putting this information into the right hands can prevent a loss and get to the root of customer’s complaint, turning them back into Promoters for your company.Tracking willingness to recommend thus becomes much more meaningful when paired with a dollar value. Suddenly a decrease from 7 to 5 on a single question is not a just a metric that lives in a separate part of Salesforce, but a meaningful measurement that can preserve future cash flow in your organization.
*Net Promoter is a registered trademark of Satmetrix Systems, Fred Reichheld, and Bain & Co.