The Power of One Question
There are countless theories and strategies about how to monitor your customer satisfaction levels, the main way being to launch some sort of customer satisfaction survey. But, as discovered by Fred Reichheld, author of The Ultimate Question, these customer satisfaction surveys do a poor job predicting the likelihood of a customer either repurchasing from you or referring your company to a friend.
So how do you combat this issue? Ask customers a single question: “On a scale of zero to 10, how likely are you to refer us to a friend or colleague?”
The methodology is explained in the article entitled, One Question Can Predict the Future of Your Company on INC.com, but Reichheld suggests this test is especially effective for smaller companies; the main reasons being that it’s easy, cheap and predictive.
Watch how Tom Gimbel, like Fred Reichhel, created and grew his successful “tool,” LaSalle Network, HERE.