Tying your NPS Score to Product Development

Hey There!

I’m excited to say that a lot of y’all were really excited about the NPS Score lesson I shared last week! Especially when you were able to point out where yours was better than this newsletter’s.

It is totally fine because in a few months I will run another survey and we will see where we all are then.

One question that came out of the discussion around NPS was where does that fit in the marketing mix and what can you do with it.

Great question!

And, the answer is that it fits directly into the way that you design your products or services.

Everything is Product!

My basic take on this topic is that everything you offer whether it is physical or a service, tangible or intangible is a product.

There are 3 levels to your product development that matter:

• The core benefit

• The actual product

• The augmented product

The core is the outcome you produce.

Let me be generous with the newsletter and say that the core of the product is that I do a good job of educating you on a concept in a way that allows you to put it to use pretty quickly.

Yours, maybe different.

But the core benefit is the outcome someone gains from working with you.

The actual product is how this is delivered.

Duh! The newsletter!

Now the augmented product is where things get fun because in normal times this newsletter is a doorway to other stuff folks do with me like using the two newsletters, I was able to create and sell workshops around the world.

For our purposes, the augmented product is any other benefit or way that people have to engage with you and your service.

Peter Drucker said something that is very important to consider here when he said, “The customer rarely buys what the business thinks it is selling.”

This matters because when you are using your NPS score to gain insight into how folks feel about what you are offering, the two bonus or other questions you might ask in the course of finding out your NPS score can provide you insight into what people are really buying from you.

So the NPS Score gives you the chance to revisit your product and to measure what people are buying against what you think you are selling. If you do your measuring successfully, you’ll be able to tweak your offer in a way that will increase your NPS score and, more likely than not in most environments, grow your market share.

So the NPS score gives you the information to better understand your customers and what they are looking to you for. But more importantly, it provides you an avenue to figure out if you are moving in a better direction as you improve the offerings you deliver.

What’s next?

If you haven’t already tried out using the NPS score, maybe run a quick survey. And, if you have, check your data to see what people are really telling you about what they are buying from you.

Let me know what you find out.

Next week: touchpoints?

See you then!

Dave