How to Drive Higher Customer Satisfaction and Revenue

by Leigh Hamer | Last Updated: Nov 8, 2022

Happy customers stay customers. This translates into annual recurring revenue (ARR) and an increase in customer lifetime value (LTV). Hang tight the alphabet soup is just getting started. But first, a history lesson… Near 20 years ago, Fred Reichheld created the Net Promotor Score (NPS), which elegantly simplified the customer feedback process. It distilled the lengthy customer surveys that were a common practice into two questions: How would you rate us? and Why? The questions strike to the core of the quantitative and qualitative information companies need. Today, NPS is the most popular customer experience metric and is measured in two-thirds of companies, according to a Lumoa study. NPS measures a customer's brand loyalty, which correlates directly to a company’s revenue. The London School of Economics discovered an average NPS increase by seven points correlates with a one percent growth in revenue. This is because promoters (customers who like you a lot) spend more, forgive mistakes, and try new products, according to Temkin research:

92 percent of promotors are likely to purchase more
67 percent of promotors are likely to forgive the company if it makes a mistake
62 percent of promotors are likely to try a new product

Lumavate created the NPS Customer Survey Template to give brands a vital digital experience that will help drive customer satisfaction and revenue. It includes a form that captures a customer’s rating and comments. It also lets a customer select if they want a company representative to contact them, and then provide their contact information. All of that data can be stored in a Lumavate Table or in Salesforce. The NPS Customer Survey Template gives your company a leg-up on the competition. This Template can easily be copied into your Lumavate Studio and enable you to quickly customize the content and branding to personalize it for your business. To store the data in your Salesforce instance:

Begin by connecting your Salesforce account to Lumavate.
Then create a new form in Form Builder and connect the fields to your Salesforce data fields.
Copy the NPS Customer Survey Template and connect it to the form you created.

To store the data in Lumavate’s Table Builder:

In Table Builder, copy in the NPS Customer Survey Table.
Create a new form from the NPS Customer Survey: Table Builder Template. Connect the fields to the Table Builder data fields.
Copy the NPS Customer Survey Template and connect it to the NPS Customer Survey: Table Builder Table.

Using the NPS Customer Survey Template, it takes less than 10 minutes to have a fully functioning customer feedback form up and running. Text NPS to 586828* to see an example of how the NPS Customer Survey Template could help your brand. *Msg & data rates may apply. May receive up to 2 msgs. Reply HELP to 586828 for help. Text STOP to 586828 to cancel. For terms and privacy, click here to learn more.

How to Drive Higher Customer Satisfaction and Revenue

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