SingleHop’s Customer Retention Rate Leaps with Net Promoter®
March 11, 2014 by FindMyHost News
Web Hosting Services – SingleHop, dedicated server and cloud hosting company, has “virtually eliminated” customer churn after implementing a Net Promoter program to drive up customer satisfaction and bring the voice of customer into the organization.
Since implementing its Net Promoter program, its customer retention has skyrocketed, and it now has a churn rate of less than 0.2% per month – a figure that compares favorably with an average monthly churn rate of around 0.5 – 1% for SaaS businesses in 2013.
SingleHop’s journey to increasing customer retention began in mid-2011, when it partnered with CustomerGauge, a customer feedback and analytics platform based on the Net Promoter System, to bring customer feedback into the organization in a systematic, deliberate way. Using CustomerGauge features, the organization has taken steps to deeply embed the voice of customer at all levels of the organization to help fuel customer-focused innovation and transform its internal culture according to objective feedback.
Explaining the reasons behind this initiative, Mark Cravotta, Executive Vice President Worldwide Sales and Services, noted: “Without the voice of customer and the interaction, we’re really just a commodity, and there are plenty of commodities on the market today. But customer feedback doesn’t just give customers the feeling that their voice is heard, it really fuels innovation and growth.”
To ensure that feedback filters throughout the organization, access to CustomerGauge system is universal, and daily, weekly, and monthly reports, which include actual responses from customers, are sent to a cross-section of senior management. Digital signage further embeds the voice of customer in the organisation by displaying recent customer comments throughout the company’s offices.
“Listening to customers, understanding what is needed in our offering, and being able to evolve that to a place where customers feel like they are getting what they want, at a fair price, in a way that they can do business that is beneficial to them, is a real outcome of this program,” said Mark Cravotta. “We are tremendously pleased with how far we’ve come, but now we want to do more than just eliminate churn – we want to drive up customer satisfaction and really make them delighted with the services we provide.”
Net Promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld.
CustomerGauge is a Software-as-a-Service (SaaS) platform that uses Net Promoter to measure and report on customer feedback in real time. Because CustomerGauge already has all the pieces in place – end-to-end and fully integrated – a program can be up and running much faster than comparable in-house programs. Clients include Philips, Melitta, Tommy Hilfiger and Electrolux. CustomerGauge sends over 5 million emails on behalf of its customers annually, across 140 countries and 32 languages. www.customergauge.com.
SingleHop is a dedicated server and cloud hosting company that offers highly scalable, automated, on-demand infrastructure and value added services to both end-users and resellers. With clients in 114 countries, three geographically dispersed U.S.-based data centers, and a new facility in Amsterdam, SingleHop provides dedicated, cloud, and managed services to more than 4,000 customers with 10,000+ servers online. SingleHop delivers state-of-the-art resources and services with industry-leading deployment time and custom support. SingleHop was established in 2006 in Chicago and was named #25 on the Inc. 500 list for the fastest growing companies in America in 2011. For more information, see www.singlehop.com
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