Net Promoter Score & The Customer Experience

Net Promoter Score (NPS) & The Customer Experience In 2003, Fred Reichheld, a partner at Bain & Company, created a new way of measuring how well a brand or an organization treats the people it interacts with—how well it generates relationships worthy of loyalty. Extensive research has shown that your Net Promoter Score®, or NPS®, acts as a leading indicator of growth. If your organization’s NPS is higher than your competitors, you will likely outperform the industry/market, and managing your retail organization to improve NPS will also improve your business performance. Retail organizations that use NPS as the foundation of a measurement framework that is tightly tied to the customer experience can determine where they stand in the market quickly and frequently. HowRead More

“Human Leadership” In Retail

Human Leadership In Retail I am a strong believer in investing in employees. Investing in training & development. Investing in recognition tools that make people [especially top performers/contributors] feel valued and appreciated. Investing in career path planning that is aligned with the company objectives and ensuring that we have the right people in the right places and ensuring that they have the tools and resources to deliver amazing results. I have always aspired to be an accessible and involved business partner to my team members. As a retail leader, I have always felt my job is 90% how my team feels, how I support them, and guide them to find their success. Recently, I read an article from the amazing and always brilliantRead More

What Is CRM in Retail And Why It’s Important

Customer Relationship Management Customer relationship management (CRM) refers to the principles, practices, and guidelines that an organization follows when interacting with its customers. From the organization’s point of view, this entire relationship not only encompasses the direct interaction aspect, such as sales and/or service related processes, but also in the forecasting and analysis of customer trends and behaviors, which ultimately serve to enhance the customer’s overall experience. [Source: Investopedia] CRM is more than just creating a list of names and email address [which is usually a direction issued to the store teams to do]. CRM allows retail organizations to build comprehensive records and profiles of every customer that engages with their brand. In a time when every retailer, in order to thrive andRead More