The worst number in business
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INC. THIS MORNING
The worst number in business
Good morning,
In the past two decades, the net promoter score, known as NPS, went from a budding idea with some value to an overgrown weed. The customer-experience metric has crept its way into nearly every nook and cranny of marketing strategy, and CEOs have clutched to the stat in spades, especially in recent years.
The fixation on NPS among businesses is worrisome. As Inc. columnist Nick Hobson argues, the number is arbitrary, and provides no insight as to what to do next.
Instead, it’s better to focus on metrics that are connected to relevant outcomes, like churn rate, cash flow, and revenue. Read on for why relying on NPS won’t help and may even hurt your business.
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HERE'S WHAT ELSE I'M READING TODAY:
Some products seem to go spontaneously viral on Kickstarter. But actually, it can take intense planning. How one new brand did it.–Inc.
Meta, the company formerly known as Facebook, released a slew of free tools to help small businesses better access first-party data--this, after Apple made it harder last year to target customers through social media advertising.--Inc.
This Hollywood director’s rule can help you be more charming and productive. –Inc.
Since men often sit in powerful positions at organizations, they can be prime allies for women to help dismantle power structures that block equal opportunity. –HBR
Saying “no” more often is a simple way to boost your mental health. –WSJ
ONE MORE THING:
Your social media manager may be ready to quit. –Inc.
--Brit Morse
Associate editor, Inc.
How are we doing? Send me ideas and feedback at BMorse@inc.com and on Twitter at @britnmorse.
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