Delivering measurable customer value: Sellforte Customer Happiness Survey 2022 received an NPS of 56%

The foundation of our business lies in our ability to deliver measurable value to our customers. It's the reason customers buy the service, and it's the reason customers stay with us. All Sellforteans play a role in delivering customer value. While TV cameras often zoom into the scoring of a goal, it is important to understand that each pass that happened before it were critical in making the goal happen.

Sellforte’s NPS of 56 was a strong testament of the excellent customer service Sellforte has been providing, with many open-ended feedback complimenting on the good work and collaboration with the Customer Success Managers and Customer Data Scientists. This was highly encouraging for the entire customer delivery team who works hard to help our customers reach their business goals.

Sellforte’s retention rate in July 2022 was at 96% which supports the feedback that we are getting from the NPS results and showing that Sellforte customers were happy with the service Sellforte was providing them with.

The variety of feedback that we received from different industries helped us in identifying the next topics for our product development roadmap.

We received feedback from a diverse range of industries and companies, allowing us to gain a broader understanding of our customer base and their unique needs. The survey included participants from the following industries:

• Marketing Agencies
• FMCG
• Other
• Retail
• Telco

The individuals who participated in the survey came from various job titles, including Analytics/Customer Insights, General Management, IT, Marketing, Sales, Trade Marketing, and Agency roles.

To illustrate the data, we have provided a pie chart below that shows the percentage of participants from each industry.

As you can see from the chart, Retail was the largest industry represented in our survey, with 31% of participants coming from this sector. This is not surprising, as our company specializes in providing products and services to the retail industry, with a large international clientele. The feedback we received from retail participants is particularly valuable, as it helps us to identify specific areas where we can further improve our offerings to meet the unique needs and challenges faced by retailers. We are committed to providing tailored solutions to our retail customers and will continue to use their feedback to enhance our products and services to better serve this industry.

Nevertheless, this diversity in industry representation allowed us to gain valuable insights into the unique challenges and needs of our customers from different industries. While retail was the largest industry represented, we also received feedback from participants in other sectors such as Marketing Agencies, FMCG, Other, and Telco.

We can generally chalk up the lower scores of FMCG customers to the poorer data quality compared to retail or telco. FMCG customers do not own their sell-out data, so there is always some hassle and possibly, additional cost to obtain the data in the granularity needed. At the same time, data for trade marketing activities are often in a poor shape. Data collection tends to be cumbersome and data validation lengthy. All of these reasons results in customer fatigue and increases the work involved, hence reducing the customer satisfaction for FMCG customers. For the agencies, there is sometimes a tension between us and them as we present results that may not reflect well on them or the choices they have made. Ideally, media agencies should take on an attitude of seeing us as partners and working together closely to help our common customer reach their business goals and succeed in their marketing efforts.

This variety of perspectives helped us to identify common themes and areas for improvement across industries, as well as to pinpoint specific challenges and needs unique to each sector. The feedback we received from participants in each industry was essential in helping us to improve our products and services to better meet the needs of our diverse customer base. Overall, we are grateful for the valuable feedback provided by all participants and will continue to use this feedback to enhance our offerings and better serve our customers.

The retail and telecommunications industries have a well-established history of utilizing Marketing Mix Modeling (MMM) to enhance their overall marketing strategies. These industries possess vast knowledge on the subject, having dedicated significant resources and efforts towards developing detailed and sophisticated data for modeling purposes. At Sellforte, we pride ourselves on being able to cater to the complex needs of these industries with a state-of-art SaaS product. Our innovative approach enables us to provide unparalleled insights and solutions to our clients, allowing them to make informed and data-driven decisions.

We can generally chalk up the lower scores of FMCG customers to the poorer data quality compared to retail or telco. FMCG customers do not own their sell-out data, so there is always some hassle and possibly, additional cost to obtain the data in the granularity needed. At the same time, data for trade marketing activities are often in a poor shape. Data collection tends to be cumbersome and data validation lengthy. All of these reasons results in customer fatigue and increases the work involved, hence reducing the customer satisfaction for FMCG customers. For the agencies, there is sometimes a tension between us and them as we present results that may not reflect well on them or the choices they have made. Ideally, media agencies should take on an attitude of seeing us as partners and working together closely to help our common customer reach their business goals and succeed in their marketing efforts.

The Customer Happiness Survey 2022 was conducted from June 16th to June 30th, 2022. The survey was sent out to a total of 133 customers via email, with a reminder email sent out to those who had not yet responded after one week. The survey remained open until the end of June, giving participants plenty of time to provide their feedback.

To encourage participation, we included gift cards as a reward for completing the survey. While participants were not required to provide their personal email addresses to take the survey, it was necessary if they wished to receive a gift card.

In order to ensure the accuracy and relevance of the data collected, we made it mandatory for participants to provide their company information. This allowed us to segment the responses based on different customer demographics and identify any trends or patterns.

Overall, we received a 24% response rate, with 32 customers providing their feedback. While this may seem like a relatively small sample size, it is still statistically significant and provides us with valuable insights into the experiences and satisfaction levels of our customers.

The Customer Happiness Survey 2022 was designed to gather feedback on a variety of aspects related to our business and services. The survey was divided into five sections to ensure that we covered a comprehensive range of topics and factors that contribute to customer satisfaction.

Sellforte used the following five sections:

By dividing the survey into these sections, we were able to gather detailed feedback on a wide range of topics related to customer satisfaction. This allowed us to identify areas of strength as well as areas where we need to make improvements, helping us to ensure that we continue to meet and exceed our customers' expectations.

NPS gives indication on how likely the customer would recommend a company - the higher the value, the more likely the customers would recommend a company

Net Promoter Score (NPS) is a well known metric that measures customer loyalty and satisfaction. It is a straightforward and effective way to gauge customer satisfaction and identify areas for improvement. In this section, we will explain what NPS is, why it is relevant, and how to calculate it.

What is NPS?

NPS measures customer satisfaction and loyalty by asking customers how likely they are to recommend a company's product or service to others. It is based on the simple premise that loyal customers are more likely to recommend a product or service to others. NPS scores range from -100 to +100, with higher scores indicating higher levels of customer satisfaction and loyalty.

Why is NPS relevant?

NPS is relevant because it provides a simple and effective way to measure customer satisfaction and loyalty. By understanding how likely customers are to recommend a product or service, companies can identify areas for improvement and take action to address customer concerns. NPS scores can also be used to benchmark a company's performance against competitors and track changes in customer satisfaction over time.

How to calculate NPS?

To calculate NPS, customers are asked to rate their likelihood of recommending a product or service on a scale of 0 to 10. Customers who give a score of 9 or 10 are considered Promoters, those who give a score of 7 or 8 are considered Passives, and those who give a score of 0 to 6 are considered Detractors.

The NPS score is calculated by subtracting the percentage of Detractors from the percentage of Promoters. For example, if 50% of customers are Promoters, 20% are Passives, and 30% are Detractors, the NPS score would be 20 (50% - 30%).

NPS scores can range from -100 to +100, with higher scores indicating higher levels of customer satisfaction and loyalty. In general anything above 0 means that we have more promoters than detractors and scores above 50 means that the amount of promoters is significantly higher compared to the detractors thus resulting in an excellent score.

Sellforte’s customer happiness score was at 56% which is above the industry average of 36% as well as qualifying for the “excellent” category

After analyzing the data collected from our Customer Happiness Survey 2022, we are pleased to announce that our Net Promoter Score (NPS) is 56%. This score indicates that our customers are highly satisfied with our products and services, and they are likely to recommend them to others.

In the highly competitive world of Software as a Service (SaaS) companies, customer satisfaction is essential for business success. The NPS is an important metric used to measure customer satisfaction and loyalty. According to industry benchmarks, the average NPS score for SaaS companies ranges from 30 to 36.

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