In our modern, technologically complex world, the foundations of business have drastically changed. The era of the milk man and the friendly neighbourhood grocer are gone.
High tech advances have provided countless portals for firms to streamline their operations. The internet is essentially a DIY network that gives businesses the capability to expand their reach without the parallel of labour costs. Department stores and grocery stores have adopted digital self-check-out stands that reduce line ups without having to increase staff. Restaurants have the capability to provide touchscreen menus that automatically send your order straight to the kitchen.
The further we advance into this technological era, the more globalized our world becomes. Increased globalization yields a fierce increase in competition – and of course what better catalyst for competitive advantage than cost reduction. CRM outsourcing has grown to a multi-billion dollar industry. If your cell phone is giving you grief and you call up your provider help line, likely you will be connected with someone in India or the Philippines (not before weaving through a series of pre-recorded options … “If you are pulling your hair out with frustration, press 3”).
In a global market that demands scrutinized cost reduction and mass marketing, how could you not trade in personalized service for something faster and cheaper? WHY would you not?
The internet has given a newfound power to the consumer. If a consumer feels strongly about a product (be it positive or negative), they can broadcast their opinion to an audience of thousands or even millions. Word of mouth has evolved into something much more far-reaching and instantaneous in its power and influence- word of fingertips!
The Net Promoter Score (or NPS) is a system that categorizes customers as promoter, passives or detractors. The customer is asked “how likely is it that you would recommend this company to a friend or colleague?” Results are then scaled as followed:
• Promoters (score 9-10) are loyal enthusiasts who will keep buying and refer others, fueling growth.
• Passives (score 7-8) are satisfied but unenthusiastic customers who are vulnerable to competitive offerings.
• Detractors (score 0-6) are unhappy customers who can damage your brand and impede growth through negative word-of-mouth.
To obtain your company’s NPS you take the percentage of “promoters” and subtract the percentage of “detractors”. To give this some perspective, the global average NPS is approximately 15%. Apple has a score of 68, Amazon has a score of 71, Costco has a score of 76…oh, and FROGBOX has a score of 91.
With the constant bombardment of media and advertising the consumer has become less receptive to a company’s message. Therefore, we have come to trust the words and opinions of our fellow consumer. The FROGBOX business model is founded on the quality of our customer service. We firmly believe that the best marketing we have is providing a service with such excellence that you can’t wait to share your experience with others.