As a marketer, you’re always looking for ways to improve your company’s Net Promoter Score (NPS). And if you’re not familiar with NPS, it’s a measure of how likely customers are to recommend your company to others.
One way to improve your Net Promoter Score (NPS) is by using personalized video. A Personalized video is a video that is specifically tailored to an individual customer. They can be used to thank the customer for their business or to encourage them to refer friends and family.
Thanks to advances in video technologies, creating a personalized video is now easier and more affordable than ever before. In this blog post, we’ll explain what the NPS is, how personalized video can help improve your NPS, and how to use the Mediawide Personalized Video Platform to create personalized videos.
What is a Net Promoter Score (NPS)?
A Net Promoter Score (NPS) is a customer satisfaction metric that measures how likely customers are to recommend a company’s products or services to others through customer feedback.
How is the NPS calculated?
The score is calculated by asking customers to rate their likelihood to recommend on a scale of 0-10, and then subtracting the percentage of detractors (those who rated 0-6) from the percentage of promoters (those who rated 9-10).
The resulting score can range from -100 to 100, with a positive score indicating more promoters than detractors and a negative score indicating more detractors than promoters.
How is the NPS helpful to companies?
NPS can be a helpful tool for companies to gauge customer satisfaction and identify areas where they can improve.
For example, if a company has a low NPS, they may want to focus on personalizing their customer service or conducting more personalized video campaigns. If a company has a high NPS, they may want to focus on maintaining that level of customer satisfaction.
Ultimately, NPS is just one metric that companies can use to gauge customer satisfaction. Other metrics, such as customer retention rate or customer lifetime value, may also be helpful in understanding customer behavior.
What affects the NPS
The Net Promoter Score (NPS) can be affected by a number of factors, including the quality of the product or service, the availability of alternatives, customer satisfaction levels, and brand loyalty.
NPS is also affected by changes in customer needs and wants, as well as by external factors such as the economy. Because NPS is a measure of customer loyalty, it is important to track NPS over time to gauge the health of your business and identify potential areas for improvement.
Thoughts on the usefulness of the NPS
Advocates of the NPS argue that it is a simple and effective way to track customer satisfaction over time, and that it can be used by businesses of all sizes.
Critics argue that the NPS is too simplistic, and that it does not take into account important factors such as customer loyalty or brand equity.
Additionally, some argue that the NPS can be easily gamed, and that it is not an accurate measure of customer satisfaction.
Ultimately, whether or not the NPS is a useful metric for businesses depends on the specific business and what factors are most important to them. However, there is no doubt that the NPS has become one of the most popular metrics for measuring customer satisfaction, and it shows no signs of slowing down.
How can personalized videos improve your Net Promoter Score (NPS)?
Using personalized video is a great way to improve your NPS. By personalizing the video, you can make sure that it is relevant and interesting to the person who is watching it. This will encourage them to keep watching, and they are more likely to remember the video.
In addition, personalized video can help to build a rapport with your audience. By taking the time to personalize the video, you are showing that you value their opinion and feedback. This will encourage them to give you their honest feedback, which can help you to improve your NPS.
Customer satisfaction
Personalized video can also help to build a personal connection with customers and create a feeling of belonging. This is especially important for businesses that have a lot of customers or that operate in a large geographic area.
By personalizing the video, you are showing that you are interested in each individual customer and that you value their business. This feeling of connection can encourage customer satisfaction and therefore continue doing business with you and refer others to your company.
Customer feedback
Personalized interactive videos can also help in gathering your customer feedback, which in turn helps measuring NPS. By adding simple surveys or forms in your videos, customers can quickly and effectively respond to questions, and help improve your NPS.
In short, personalized video offers a powerful way to improve your NPS by engaging with customers on a personal level.
The benefits of using personalized videos to increase your Net Promoter Score (NPS), and in turn your customer loyalty
A loyal customer is defined as someone who makes repeated purchases from a company over a period of time.
A long-standing study by Bain & Company found that a 5% increase in customer retention can lead to a 95% increase in profitability. Furthermore, another study found that it costs 6-7 times more to acquire a new customer than it does to retain an existing one. These studies underscore the importance of customer loyalty and its impact on profitability.
There are many ways to increase customer loyalty, but one of the most effective is through the Net Promoter Score (NPS). Companies with a higher NPS have been shown to have higher levels of customer loyalty. In fact, studies have found that companies with an NPS of 50 or higher had twice the customer loyalty rate of companies with an NPS below 50.
If you’re looking to increase customer loyalty and profitability, focus on increasing your company’s NPS score. Implementing an effective NPS program can help you identify areas where you need to improve and make changes that will lead to more satisfied, loyal customers.
Personalized video has been shown to be an effective way to increase NPS. By creating videos that are tailored to the individual viewer, companies can create a more personal and favorable impression, leading to increased customer loyalty.
In addition, personalized video can be used to address specific concerns or needs that a customer may have, further increasing their satisfaction. Overall, using personalized videos is an effective way to increase your Net Promoter Score (NPS) and customer loyalty.
Tips for using personalized videos to improve your Net Promoter Score (NPS)
Personalized videos are one way to improve your NPS by showing your customers that you value their feedback and are committed to providing them with a great experience. Here are a few tips for using personalized videos to improve your NPS:
• Use customer testimonials
Customer testimonials are one of the most powerful ways to improve your NPS because they show potential new customers that others have had a positive experience with your business.
• Make sure your videos are high quality.
Poorly produced videos can reflect poorly on your brand and turn potential customers off. If you’re not sure how to produce high-quality videos, consider outsourcing this aspect to Mediawide Professional Services whose knowledge of template creation and support is highly rated.
• Keep your videos short and sweet.
No one wants to watch a long, drawn-out video about your business. Keep your videos short and to the point so that viewers stay engaged until the end.
• Use personalized calls to action in your videos.
A call to action is an instruction that tells viewers what they should do next, such as visiting your website or following you on social media. Including personalized calls to action in your videos will help encourage viewers to take action and improve your NPS.
• Use them to say thank you
A simple thank you message can go a long way in making your customers feel appreciated. Send them a personalized video thank you after they make a purchase or leave a positive review.
• Use them to address concerns
If you receive negative feedback, reach out with a personalized video message to try and resolve the issue. This shows that you’re willing to go the extra mile to make things right. You can even include a short survey or questionnaire to gain actionable insights
• Use them for customer retention
Send periodic videos to your best customers, offering exclusive deals or updating them on new product launches. This helps keep them engaged with your brand.
• Truly personalize your videos.
Address your customers by name, use their city or state in the video, and customize the content to fit their needs. This will show customers that you care about them and are willing to go the extra mile to provide them with a great experience.
By following these tips, you can create personalized videos that will help improve your NPS and in turn, increase customer loyalty. Personalized videos are a great way to show customers that you value their feedback and are committed to providing them with a great experience.
How to create personalized videos for your customers
There are many platforms out there that can help you create and manage personalized videos. The Mediawide Interactive Personalized Video Platform is a powerful video personalization solution that enables you to create highly personalized videos for your customers.
The Mediawide Interactive Personalized Video Platform makes it easy to use customer profiles to target specific segments with personalized messages, and you can also use Mediawide PVP to dynamically insert customer data into your videos, making the experience even more personal.
The Mediawide Interactive Personalized Video Platform integrates with your existing CRM and marketing platforms, you can easily track and measure the performance of your personalized videos. From MailChimp for SMBs to OpenText Exstream for Enterprise customers, Mediawide has you covered.
Where does the personalization come from?
When you need to personalize a video, a template is first created. This template can contain tagged elements that can simply be swapped out for personalized data, this data can be in the form of words, images, audio, or video. The Mediawide Platform has a number of methods of obtaining this personalized data…
• Mediawide API
Using the Mediawide API, CRM platforms can send the personalized data to the Mediawide Platform, and in return immediately deliver a Personalized URL which can then be used in your communications. This is the fasted method of creating a high volume of videos.
• Mediawide Folder Import
The Mediawide Platform can also obtain personalized data through a folder input and output queue. This solution is quick to set up, and can handle moderate volumes of throughput. The output folder is then used to immediately deliver the Personalized URL to the customer experience platform.
• Direct Integration
The Mediawide Platform also has direct integration with certain customer experience platforms, such as MailChimp and SalesForce. With these solutions, the videos can be created within the Mediawide Platform, and the Personalized URLs for the videos can be directly imported into the Vendor’s database, ready to be used on subsequent campaigns.
• Custom Integration
The Mediawide Professional Services team can also create custom connectors, these can be designed and deployed quickly to help you with your own customer experience platforms
Mediawide’s video personalization technology is the perfect way to create more engaging and effective customer communications. Contact Mediawide today to learn more about how our platform can help you achieve your marketing goals and help solve some of your NPS pain points.
Conclusion
Using personalized video is shown to increase customer loyalty, gain happy customers, and improve your Net Promoter Score (NPS). This is due to the fact that personalization creates a connection between the customer and the brand. When customers feel a connection, they are more likely to be loyal and recommend your business to others.
In order to create these personalized videos, you first need some customer data. Once you have this data, it’s easy to create a video that feels tailored just for them. Our team at Mediawide can help you get started with creating personalized videos for your customers – all you need is a free trial. So what are you waiting for? Sign up today and see how personalized videos can improve your NPS score!
