Business planning

NPS – some reflections

NPS Loudspeaker

In my previous blog post “Recommend to a friend”, I brought up the background to the measurement of customer loyalty with the Net Promoter Score, NPS [2]. The method is easy to use and popular among commercial companies as well as in the public sector. But, all methods based on a relatively simple model has its weaknesses. In this post, I am sharing reflections and some criticism of the NPS approach.

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Inspiring Webb Days

 Webbdagarna in Stockholm

Webb Days Logo

I visited Stockholm’s Webbdagarna (Webb-days) from the 22nd to 23rd March. It is Sweden’s leading event and meeting place for anyone working with digital media and digital channels. The conference is organized by Internetworld and gathers some 1600 participants. A major part of the sessions were in English. If you are living in the Nordics and want to follow the digital development and discover new business opportunities, I can recommend a visit to the event. The next conference is held in Malmö on the 17th to 18th May and followed by Gothenburg on the 21st to 22nd September. The next Stockholm event will be held March 21st to 22nd, 2017.

It was overall very professionally organized with many great and inspirational speakers. There are, of course, a lot of topics and information covered during the two days. I can, in this blog, just share a few hopefully inspiring takeaways.

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Price Tag

I have, in previous posts, raised the importance of defining the industry and to understand what the company offers to its customers, i.e., which right to existence the company has. Once you know your industry, what to offer, and who your customers are, you then need to decide the price of the product.

A while ago I got the question from some young entrepreneurs asking how to price their products. There are, of course, many different more or less complex pricing and business models. However, I decided to share three very basic methods, and I believe these might also be of interest to some of you who read my blog. The basis for the three models are:

New competitors — one of three key questions

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New Competitors

Image: Shutterstock and Vestadil AB.

There are currently three questions that all corporate boards and managements have to ask themselves:

  1. In what business are we?
  2. Who are our new competitors?
  3. How can we attract and retain talented people?

In my previous blog post I addressed the question: “In What business are we?“. The answer is vital input when positioning the company and its businesses. I highlighted the necessity, in the strategic business development, to make a thoroughgoing analysis of the business (industry) in which the company operates.

When making the business analysis, we need to drill down and deeply understand the “problems” that the company’s products aim to solve for the customer, i.e., the core benefits.

The chosen market position will, in turn, determine which products to be developed and what competition the company will meet. In this blog, I deal with the second question, namely the challenge to grasp who are the company’s competitors – particularly new, unexpected competitors. In an upcoming post, I will address the third question to give my view of the challenge of attracting talents to our businesses.

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