TruRating Announces Partnership with TSYS to Provide Savvy Retailers with Smarter Customer Insights

ATLANTA – January 22 2019 — TruRating announced today a partnership with TSYS, a leading global payments provider, offering innovative solutions to issuers, merchants and consumers. TruRating will be available on TSYS’s Genius® Customer Engagement platform, where merchants can select innovative solutions that enhance business operations beyond payments. Genius is the flagship product developed by Boston-based Cayan, which was acquired by TSYS in January 2018.

TruRating provides easy-to-understand insights via an online dashboard and mobile app, and will be the first application on the Genius platform related to customer feedback. Genius, through its Unified Commerce Solution Suite, gives its business customers the unprecedented ability to manage the consumer experience across locations and between channels without ever touching cardholder data.

“Between TSYS’s innovative Genius platform and our in-store and online capabilities, merchants will be able to connect with and learn from their customers more easily than ever before,” said Georgina Nelson, CEO, TruRating. “Our partnership will give businesses the opportunity to access and analyze real customer feedback across channels, giving them the power to make smart and informed decisions.”

TruRating was launched in 2014 by Nelson, a former lawyer who wanted to help businesses get better insights by giving a voice to the “silent majority” of consumers who never give reviews. Using the payment terminal at checkout, paying customers provide a quick response to one rotating question, which produces an industry-leading 88 percent response rate. This validated customer feedback data is fed back to merchants in near real-time.

TSYS provides technology-led acquiring services to more than 800,000 merchants and more than 100 integrated partners in the U.S.  They bring a strong omnichannel presence with a fully integrated, multichannel customer engagement platform, and their flagship Genius platform delivers a seamless and scalable unified commerce experience across channels.

“Merchants have to constantly listen to their customers in order to stay relevant,” said Henry Helgeson, President and EVP, Integrated Solutions, TSYS Merchant Solutions. “Genuine, validated customer feedback provides businesses with the insights they need to stay on top of what their customers want and their purchasing experiences – whether good or bad. TruRating’s solution provides the merchants we work with the opportunity to receive feedback in near real time so they can make the customer shopping experience even better.”

For all businesses using Genius, whether large chains or SMBs, TruRating offers an equal opportunity to access customer experience data on a scale like never before. Business owners can better support their teams, while effortlessly increasing revenue — in some cases up to an eight percent increase within weeks of switching on TruRating.

Following a successful pilot program, TruRating is now live within the Genius ecosystem. To learn more about how TruRating can help your business, visit www.trurating.com/business.

# # #

About TSYS

TSYS® (NYSE: TSS) is a leading global payments provider, offering seamless, secure and innovative solutions across the payments spectrum — for issuers, merchants and consumers. TSYS succeeds because it puts people and their needs at the heart of every decision to help them unlock payment opportunities. It’s an approach TSYS call People-Centered Payments®.

The company headquarters are located in Columbus, Ga., U.S.A., with approximately 13,000 team members and local offices across 13 countries. TSYS generated revenue of $4.9 billion in 2017, while processing more than 27.8 billion transactions. TSYS is a member of The Civic 50 and was named one of the 2018 World’s Most Ethical Companies by Ethisphere magazine. TSYS is a member of the S&P 500 and routinely posts all important information on its website. For more, visit tsys.com.

Intelligent Customer Feedback for Retailers via new GK Software and TruRating Partnership

gk_trurating_pr

ATLANTA – January 9, 2019 — TruRating, customer experience experts specializing in retail and hospitality insights, and GK Software USA, a leading provider of software solutions to the retail, grocery and hospitality industries, announced today that they will be working together to bring even more value to GK Software customers.

TruRating’s original point-of-payment customer feedback software will integrate with GK’s platform to provide retailers the ability to ask each customer one question at check out. Rotated with every transaction, the questions cover a range of elements relating to the in-store experience. The simplicity of the solution means that an average of 88% of customers are happy to respond – an unheard-of response rate in the world of customer surveys and CX platforms. In addition, the integration will soon deliver a new, AI-driven opportunity to retailers – the ability to trigger different, specific questions based on customer actions, such as the brands or types of products purchased or use of a loyalty card.

“The possibilities of Dynamic Questions are vast, and we’re delighted to be showcasing it with GK Software at NRF,” said Georgina Nelson, TruRating CEO. “Their leadership and experience in the field of retail software, AI, and in-store solutions is renowned, which makes them an ideal partner for us to bring retailers access to never-before possible customer experience insights.”

gk-press-release-truinsights copy

TruRating was launched by Nelson in 2014 to help merchants better understand the ‘silent majority’ of customers who don’t leave feedback. “It’s more important than ever to understand what your customers want, particularly in the retail, grocery and hospitality industries” said Todd Barstow, Vice President of Sales for GK Software. “We strive to deliver our clients the latest in cutting-edge solutions, and our partnership with TruRating means we can provide a further advantage – the ability to better engage with and understand their customers.”

Visit the GK Software booth number 3267 at NRF to see TruRating’s Intelligent Questions demo in action.

To learn more about how TruRating can help your business, visit www.trurating.com/business.

# # #

About GK Software USA:

GK Software USA is a division of GK Software SE, one of the world’s leading developers and providers of omni-channel software for the retail, grocery and hospitality industries. GK Software breaks down the barriers to unified commerce through a single, global software platform that includes its OmniPOS solution for point of sale, mobile POS, mobile customer engagement, TransAction+ payments and a full range of store/back-office solutions – which is why 10 of the Top 50 retailers worldwide rely on GK Software. The company serves hundreds of customers in North America, representing more than 40,000 locations, both directly and with its partners. GK Software is headquartered in Germany, with U.S. headquarters in Raleigh, North Carolina. For more information, visit www.gk-software.com.

CX Icons: Annette Franz

Over the coming weeks, we’ll be speaking to a variety of experts in the field and there is no better way to start than with Annette Franz, Founder and CEO, CX Journey Inc. and the undisputed queen of customer journey mapping – a CX Icon if there ever was one!

With over 25 years of experience in the field, Annette is regularly recognized by companies around the world as a top influencer in Customer Experience, one of the “Top 100 Most Influential Tech Women on Twitter”, as well as being an official member of the Forbes Coaches Council.

Annette was kind enough to give up some of her valuable time to the TruRating team recently, to give us her insights on the state of customer experience today.

Hi Annette – thanks so much for speaking to us today!

Thanks for interviewing me for your blog! I’m always happy to talk about customer experience and its importance to the business.

Why is it important to focus on customer experience and what are the benefits of doing so?

Let me first take a step back and define customer experience and explain why it’s so important for companies to focus on the customer.

In its simplest definition, customer experience is the sum of all the interactions that a customer has with a company over the course of the relationship and, importantly, the customer’s feelings, emotions, and perceptions of the brand during the course of those interactions.

The purpose of a business is to create and to nurture a customer. When companies focus on the customer and her experience rather than on maximizing shareholder value, magical things happen. The return on investment (ROI) is great, for all constituents.

Customer experience consultancy Watermark Consulting has been tracking the ROI of customer experience vis a vis the S&P 500 for the years, and their findings every year had been strong and compelling. They take a look at the top 10 publicly-traded Customer Experience Leaders and the bottom 10 publicly-traded Customer Experience Laggards from Forrester Research’s Customer Experience Index research and compare their performance on the S&P 500.

  • Leaders outperform the market with a return that’s 35 points higher than the S&P 500.
  • Laggards trailed, with a return that’s 45 points lower than that of the broader market.

Why customer experience? Well, as Sam Walton said, there’s only one boss, and it’s the customer. She pays your bills! In this world where products and services are becoming more and more commoditized every day, customer experience is really the one true differentiator. We know that customers are willing to pay more for a better experience, so price can no longer be that differentiator.

There are benefits and desirable outcomes for the business and for the customer. When businesses focus on the customer experience, they see…

  • A reduction in churn and increase in customer retention
  • Stronger customer relationships
  • A reduction in sales cycles
  • Process improvements, efficiencies
  • Innovation: innovative products and experience
  • Culture changes that support a customer-centric culture and beyond
  • Greater shareholder returns

Customers benefit by…

  • Receiving the value they expect (or more)
  • Being the beneficiaries of innovation
  • Having a better experience
  • Achieving the jobs they’re trying to do
  • And doing so with less effort
  • Experiencing less frustration
  • Feeling like the business cares about them

Who should own customer experience in an organization?

I know people like to say that everyone owns customer experience, but that’s not really true. Yes, everyone must be engaged and rowing in the same direction and working toward delivering a consistent experience across the board. Employees must be bought in, committed, and doing the work to deliver the experience customers desire. I don’t dispute that. But if I’m going to be pedantic and talk about ownership, ultimately, it’s the CEO.

I think what most people mean when they ask this question is really: Who champions the customer experience in an organization? Who herds the cats and evangelizes for the cause? Who is the head change agent, guiding and coercing executives and employees through their resistance to change? (I made that sound pretty attractive, didn’t I?!) That person typically holds the title of Chief Customer Officer or VP of Customer Experience or some variation of that. The individual may also be (or have been) the CMO, CIO, COO, or even CRO and, potentially, has no previous knowledge of how to develop a customer experience strategy.

Ultimately, this “ownership” or “championship” should reside with an individual who reports directly to the CEO. Oh, and one more thing. This individual will need to partner with the head of HR. Employee experience and customer experience go hand in hand. These two individuals must become solid partners in this journey.

What does the future of #CX look like?

It’s really difficult to answer this question when so many companies are still struggling with what customer experience is and what it looks like today. But here are my thoughts on what the future looks like, given the well-informed and connected customer, advances in technology, and the massive amounts of data that companies collect about their customers: the experience needs to be personalized, simplified, relevant, and consistent.

How can a tool like TruRating help companies to improve their CX?

I’ve been talking a lot lately about putting the “customer” into customer experience. There are three ways to do that: (1) through listening (e.g., via surveys or other listening posts), (2) characterizing (e.g., creating customer design personas), and (3) empathizing (e.g., walking in customers’ shoes via journey mapping).  Of course, once you’ve learned make sure to do something with the insights.

Any improvements must be grounded in data, insights, and customer understanding.

Feedback platforms like TruRating offer companies a tool to listen, glean actionable insights, and identify what needs to be improved (or what they need to keep doing) to deliver a great experience.

What’s your message to companies that are falling behind? 

It’s all about the customer. It’s why you’re in business. Because of customers. Without them, you have no business. If you want to differentiate your business, focus on the experience you deliver for your customers.

Get started. Today. It’s not too late to understand your customers and the experience they’re having – and then design a better experience.

And finally, you need to focus on employees and their experience. They’re the ones who deliver the experience. If they’re not having a great experience, neither will your customers. Start here.

___

To hear more from Annette and to learn about her work head to the CX Journey website or check out her recent contributions for Forbes here.  And make sure to follow Annette on Twitter for a daily dose of CX expertise.

Fore more from TruRating, check our previous posts in the customer experience series:

 

 

TruRating Engages Crowd Support to Ramp up the Ratings Revolution

Following a £7.5 million raise, TruRating are extending the invitation to all!

TruRating, a technology company specialising in point-of-payment customer feedback solutions, today launched an equity crowdfunding campaign on Seedrs, seeking to raise £1.8 million.

On a mission to change the way the world gains insight, TruRating is a unique solution to the problem of customer reviews and feedback being unreliable and easily gamed. While the vast majority of customers don’t tend to leave reviews or answer surveys, by asking just one question at the point of payment, TruRating is able to collect responses from a huge 88 percent of validated, paying customers.

TruRating has already secured funds of £7.5 million from institutional funds, family offices and private individuals in this round. These funds have come from the UK, USA and Asia as the business has sought an international footprint of shareholders to support future international expansion. Patrick Yee, Executive Director/Chief Operating Officer of OSK Ventures International Berhad, recent investors based in Kuala Lumpur, commented “We are very excited about the potential of TruRating as a means to help businesses understand their customers better and improve performance, whilst also empowering the consumers to provide feedback in a convenient way. We look forward to  growing the business with them in Asia as they look to additional markets beyond the UK, North America and Australia.”

As the funding round progressed, TruRating received many requests from friends and contacts who aren’t able to invest via traditional routes, and so decided to add to the funding round with an ‘equal equity opportunities’ flourish!

“I love the philosophy of crowdfunding – opening up direct investment opportunities to everyone, removing the barriers to investing by making it simple, easy and affordable,” said Georgina Nelson, CEO and Founder of TruRating. “I’ve always thought there are parallels between the crowd funding platforms and what we are doing at TruRating.  Disrupting and democratising an industry and making it truly accessible.  What Seedrs and others are doing for investment, we are doing for customer experience. It feels like an alignment of vision and so we are thrilled to open up some of our funding round to the public, for everyone.”

The Seedrs campaign represents a great opportunity to invest in a technology provider that already has a solid track record and recently saw JD Sports Fashion roll out the TruRating customer feedback platform across 360 of their UK stores. Other customers include Maxol, Ping Pong and Kathmandu, as well as a host of household names who are in pilot phases with the technology. 

Nelson continued: “We’ve already come a long way in a short time period – having collected over 39 million customer ratings to date – but with our existing investors and the power of the crowd community we’re hugely excited about the trajectory for the business. This is more than just a fantastic investment opportunity, it’s a chance to be at the forefront of an industry where we make a significant difference to the shopper experience.”

The investment raised through the Seedrs crowdfunding campaign will go towards extending their technological partnerships with even more global payments players and developing additional digital solutions to sit within their product suite alongside the existing in-store and online solutions.

Those interested in investing or finding out more about the Seedrs campaign can visit: https://trurating.seedrs.com/

TruRating Announces Expanded Partnership with Verifone to Enable Merchants to Collect Consumer Input at the Point-of-Sale

TruRating, customer experience experts specializing in point-of-payment customer feedback solutions, announced today that a global contract has been signed with Verifone, a world leader in payments and commerce solutions. Merchants using Verifone solutions including Verifone Point, FiPay and Verifone Connect will have access to the TruRating application to start listening to and learning from customers.

TruRating’s user-friendly POS feedback software app, paired with Verifone, will allow merchants to collect countless consumer ratings. This will help merchants better understand their strengths and weaknesses so they know how to improve their businesses. With responses collected in real-time, actionable knowledge is available faster than ever before. Some merchants have seen as much as an 8 percent revenue increase after implementing TruRating.

“We’re very excited to be working with a company like Verifone that shares our values when it comes to developing innovative technology built with both the consumer and merchant in mind,” said Georgina Nelson, CEO, TruRating. “This partnership will allow thousands of merchants to connect with the customers they don’t normally hear from and gain insights to make smarter, more informed business decisions.”

TruRating was launched by Nelson in 2014 to help merchants better understand the “silent majority” of customers who don’t leave feedback. Using the payment terminal at checkout, customers can answer a quick, one-question prompt to easily share their thoughts across a variety of key customer experience metrics, including service, atmosphere and product. This strategy has generated an industry-leading 88 percent response rate and allows merchants to monitor feedback in near real-time.

“We are committed to enabling businesses to do more than accept payments at the POS,” said John Mansfield, VP and GM of Vertical Markets, Verifone. “The retail ecosystem is transforming, and it is important for merchants to drive a deeper level of customer engagement. With TruRating, we are offering merchants better and faster consumer insights to help them grow their businesses.”

With Verifone Connect, merchants can start, run and grow their businesses with a secure and adaptable end-to-end product. Its simplicity is based on a digital experience for onboarding disparate devices, seamlessly integrating payment and non-payment applications with the POS system. The product is highly flexible to changing business needs with apps that can be preloaded onto devices or downloaded from the marketplace. Paired with Verifone’s next generation devices, merchants can manage their businesses and drive revenue by providing personalized, meaningful customer experiences beyond accepting payments.

Now live within the Verifone Connect ecosystem  – as well as via Verifone Point and FiPay – TruRating is available now in North America and will be available in the United Kingdom, Australia and New Zealand by end of 2018. To learn more about how TruRating can help your business, visit www.trurating.com/business.

TruRating and Datacap Announce New Partnership at RetailNOW

Datacap_TruRating

TruRating, customer experience experts specializing in point-of-sale customer feedback solutions, and Datacap Systems, the leading integrated payments middleware provider, announced today that TruRating will be launched on Datacap’s point-of-sale platform in Q3 2018.

TruRating provides easy-to-understand insights via an online dashboard and mobile app and represents the newest release in Datacap’s value-added offering. Their point-of-sale partners will very soon be able to deliver TruRating to their merchants, giving them the potential to generate an industry leading 88 percent customer response rate across categories including product, service and value.

“We’re excited to launch our customer feedback integration with Datacap, a FinTech pioneer that’s been around longer than the term FinTech,” said Georgina Nelson, TruRating CEO. “Their mature presence in the payments space provides even more credibility to our solution, and we’re delighted to be working with such an established partner to provide merchants with access to previously untapped customer insights.”

TruRating was launched by Nelson in 2014 to help merchants better understand the “silent majority” of customers who don’t leave feedback. As customers check out, they can answer a quick, one-question prompt on the payment terminal to easily share their thoughts across a variety of segments. This strategy has generated industry leading response rates, both in-store and online, and allows merchants to monitor feedback in near real-time.

“The integration with TruRating represents a significant value-add for our point-of-sale partners,” said Justin Zeigler, Datacap director of product strategy. “Point-of-sale providers can now present additional value to their merchant clients through an engaging customer feedback solution.”

In addition to this partnership, TruRating and Datacap are leading a panel at RSPA’s RetailNOW, taking place August 5-8 in Nashville. The panel, titled “Impactful Selling By Focusing On Value” and happening Tuesday, August 7 from 8:50-9:30 a.m., will feature Zeigler and Alan Outlaw, N.A. president at TruRating, plus representatives from TSYS/Cayan and Ingenico. RetailNOW is the premier event for players in the point-of-sale technology industry.

To learn more about how TruRating can help your business, visit http://www.trurating.com/business.

TruRating Debuts Plug-In with Magento, Launches Full Online Offering

The original in-store customer feedback solution now first of its kind available in the e-commerce realm

TruRating announced today an official extension with Magento Commerce, the worldwide leader in cloud digital commerce innovation. TruRating is now available for Magento merchants looking to select innovative solutions that enhance business operations.

In addition, the TruRating solution, which began as an in-store service when the company was founded in 2014, is now available to all online retailers as well as Magento, through a simple initiation process. This means that for the first time, businesses with both online and brick-and-mortar stores can gather customer feedback across those channels, combining ratings with transaction data to gain omnichannel insights that haven’t been possible before.

TruRating’s online business solution, which provides easy-to-understand insights via a dashboard and mobile app, generates a 59 percent quantitative customer response rate and 20 percent qualitative customer response rate, greatly outpacing typical industry standards. All feedback is gathered quickly and efficiently on the payment confirmation page, ensuring that the online shopping experience remains seamless and uninterrupted. Through Magento, digital retailers can go live with TruRating in less than 15 minutes and for those handling  less than 10,000 transactions per year, TruRating is free.

“Providing an extension through Magento seems the obvious way to officially launch our online product offering and bring more retailers the customer insights they’re craving,” said TruRating CEO Georgina Nelson. “Nearly 35 percent of businesses around the world use Magento to host their online store.”

The company was launched by Nelson, a former lawyer who wanted to help businesses get better insights by giving a voice to the “silent majority” of consumers who never give reviews. Online shoppers are asked one question on the payment confirmation page that can be answered simply using a number from 0-9, and written responses are also encouraged. The validated customer feedback data is fed back to merchants in near real-time, and the performance dashboard allows them to easily switch between online and brick-and-mortar stores.

“TruRating online is a natural evolution of our wildly successful in-store solution,” said Mary Hubbard, head of consumer product at TruRating. “Having worked with major retail brands in the past, I know first-hand that TruRating addresses well-known blind spots with their customer interactions, particularly as we’re witnessing the rapid change from traditional customer journey to consumer demand for flexible, personalized, omni-channel shopping experiences.”

You can get our online extension here: https://marketplace.magento.com/tr-trurating-rating.html

Furthermore, TruRating will be attending ETA Transact 2018, April 17-19 in Las Vegas, and Magento’s Imagine 2018 conference, April 23-25 in Las Vegas. If you’re interested in arranging time to speak with an executive at either show, email pr@trurating.com.

TruRating is planning additional e-commerce announcements in Q2. To learn more about how TruRating can help your business, visit www.trurating.com/business.

Reducing Our Footprint One Reusable Coffee Cup at a Time.

TruRating is changing the way the world gives feedback, and while we are at it, we want to change the way we give back to the world.

Did you know that forest lands the size of 50 football fields are cleared every minute? Or that 8 million tons of plastic makes its way into our oceans each year? We realize that we’re part of the disposable generation, so we want to do everything we can to minimize our impact on the environment.

This year, we have taken our cue from the three R’s of waste management in our aim to reduce our consumption, reuse when possible, and recycle what’s left over. We thought we were doing well already, but looking around the office, we realized there was plenty more we could do.

First stop, the kitchen. While we like to keep the TruRating office full of delicious snacks and beverages, we don’t want it to be at the detriment of the environment, so that’s why we have made a commitment to remove excess plastics and single-serve snacks in place of bulk groceries when possible.

We purchase eco-friendly products for dishwashing and cleaning—which is good because now that we’re no longer throwing out so many bottles and cups, the washing up has increased!

For Christmas, we gifted all employees a reusable TruRating water bottle. So, for those people who tended to buy bottled water every day can now refill their very own bottle for free. Our offices also have reusable coffee cups and we’re hearing stories around our global offices of team members chasing after people who are going out for coffee and forgot the cups! And those individual portioned coffee pods? Banished for good.

TruBottle

Then there’s the rest of the office. We’ve never been huge on printing, preferring to do our best to be a paper-free office, but if we have to print, it’s double-sided, black and white, and on recycled paper so we’re not killing additional trees. Speaking of which, we’re also filling the offices with more plants, creating a cleaner and happier working environment for us all.

And because you don’t miss what you don’t use, we’re being more diligent about turning off lights and equipment when it’s not in use, and are also working with our building managers around energy efficiencies like lighting and air-conditioning settings.

While we’re a long way from having zero-impact, we like to think every little bit helps. If you have suggestions, please send your ideas at hello@trurating.com on how we can improve our environmental program.

Would You Recommend NPS to a Friend or Colleague?

I’m 7-ish.

NPS, or Net Promoter Score, is a tool companies use to measure customer loyalty. It’s based on the question, “Would you recommend (company X) to a friend or colleague?” and is traditionally asked on a 0-10 scale (shorter scales are becoming more popular, however.) Though respondents are only shown the extremes of the scale, they are broken down into three categories—detractors, passives, and promoters. The percentage of detractors is subtracted from the percentage of promoters to yield the Net Promoter Score.

I love the question, but have reservations about how it’s used and downright loathe how NPS is calculated—7-ish.

The question

The question “Would you recommend us to a friend or colleague?” is powerful because it captures, in one stroke, both satisfaction and loyalty. Among the 24+ million ratings we’ve received, it’s the single question that ties most to spend. In retail, customers who rate the question highly spend on average 26% more than others (we get all the transaction details associated with each rating, so we can actually link satisfaction to spend—no voodoo math here.)

The application

Of course, in isolation, the question is limited. It doesn’t tell you why, and it isn’t very actionable—you can’t go into stores and exhort associates to “make customers recommend us more!” Imagining that conversation just makes me sad.

But it is a monster for internal benchmarking, both over time and at the store level. Assuming adequate sample, the ebbs and flows of your customers’ ratings should mirror how effectively you’re driving their loyalty. So, for example, if a dip corresponds with an adjustment to your labor model or a category reset, that’s quite instructive. And, again, assuming adequate sample, stores with your highest scores are where your best practices and top performers are living. What are they doing to drive loyalty that others should be doing?

I like the question less for external benchmarking. Companies will generate their own scores by asking their customers directly and then rely on survey panels to gauge their competitors. In mixing methodologies, you introduce enough variables to make the comparisons moot—timing, survey design, selection bias.

Compounding the issue is the fact that respondents tend to interpret the question very literally. I was recently talking to the head of CX at an exceedingly well-managed children’s clothing retailer who bemoaned that her score lagged retail apparel NPS benchmarks, despite incredible brand equity and outsized financial performance. We realized that many of her customers are in fact less likely to recommend her company because a lower proportion of the population is in the position to receive a recommendation for a kid’s clothing company. We all wear clothes, but only some of us have kids. For internal benchmarking, variance in interpretation should impact your scores evenly. For external benchmarking, it will have a disproportionate impact on each company within your industry and introduce way too much noise into the data.

The calculation

Honestly, we spend more time talking to our merchants about how an NPS score is calculated than we do discussing what we can learn from it. The math isn’t hard—it’s just different from the way we calculate everything else. What can be learned from a net score that can’t be learned from an average? From our analysis, nothing. Across all of our outlets, there’s a 93% correlation between their net and average scores (see below.) We even found that net calculations tended to dampen trends, obscuring crucial insights. So if you want to hide a decline in your customer’s loyalty, go for it. If you want to catch the decline ASAP, we recommend an average.

That dampening effect makes sense when you think about it. A 0 has the exact same effect on your NPS as a 5 does. So if your new labor model prompts someone who’d previously rated you a 5 to then rate you a 4, and then, as you make further tweaks, a 3, you’ll never see that you’re denigrating that customer’s experience until they’re gone, and it shows up in your bottom line. Averages, however, catch that change and are thus far more instructive for internal benchmarking.

Conclusion

So how likely am I to recommend NPS to a friend or colleague? I love the question as a barometer for how you’re doing today versus how you were doing yesterday. But it’s too noisy for external benchmarking and the net aspect diminishes its value. So I’d give it a 7—“passive” per the net reading of the scale, which is a bizarre label for someone who’s just written 782 words on it.

If you’d like to learn more about TruRating for your business, visit our website and get in touch.

 

Shop Smart: How Data, AI and Culture Power Intelligent Retail

Forward-thinking retailers are investing in people and secure digital technology to infuse intelligence across all elements of retail. Inspired by Microsoft 2018 Retail Study, this paper explains how retailers can deliver seamless customer experience across multiple channels, proactively and efficiently connecting their organization to the diverse needs of their customers.

TruRating Partners with Poynt to Empower Smart Merchants with an Appetite for Customer Feedback

Available through the Poynt Apps Marketplace, TruRating Gives Merchants the Potential to Generate an Industry Leading 88 Percent Customer Response Rate

TruRating announced today a partnership with Poynt, the maker of the world’s first smart terminal. TruRating will join Poynt’s Apps Marketplace, where merchants can select innovative solutions that enhance business operations beyond payments.

TruRating, which provides easy-to-understand insights via an online dashboard and mobile app, will be the first app for the Poynt Smart Terminal related to customer feedback. Other apps currently in the Poynt marketplace allow merchants to oversee employee timesheets, conduct advanced sales reporting or create and manage gift card programs, among other high-value capabilities.

“Poynt has built a beautiful terminal that’s all about connecting merchants and consumers, which is exactly where TruRating comes into its own,” said Georgina Nelson, CEO, TruRating. “Using the simple yet extremely intelligent Poynt marketplace, merchants can gain access to representative feedback from all their customers simply by activating on the terminal. It’s a perfect platform and partnership for helping merchants get real business value out of something that was traditionally only used for collecting payments.”

TruRating was launched in 2014 by Nelson, a former lawyer who wanted to help businesses get better insights by giving a voice to the “silent majority” of consumers who never give reviews. Using the 0-9 keypad at checkout, customers provide a quick response to one question, which produces an industry-leading 88 percent response rate. This validated customer feedback data is fed back to merchants in near real-time.

For SMBs using Poynt, TruRating offers the chance to compete against larger enterprises with more resources to devote to big data and customer experience. Business owners can better support their teams while effortlessly increasing revenue — in some cases up to an eight percent increase within days of switching on TruRating.

Poynt was started in 2013 by Google Wallet founder and former PayPal executive Osama Bedier to revolutionize the payment experience for merchants and their customers. Poynt’s terminals offer merchants big and small access to a public apps marketplace, custom apps capabilities, terminal management, secure payment options (including chip, mag-stripe and NFC options like AliPay, Apple Pay and Samsung Pay), remote monitoring and reporting via web and app, and wireless connectivity via 3G, Wi-Fi or ethernet.

“Customer feedback is no longer a novelty, it’s a necessity,” said Praveen Alavilli, head of app ecosystem and platform at Poynt. “TruRating allows merchants to get the pulse of their customers and make every experience a perfect ten, ensuring return visits and reducing the likelihood of negative public reviews. The best part is that merchants are able to capture this valuable information at a point of interaction no customer can miss — when they pay! We’re so pleased to offer TruRating to our merchants.”

Following a successful pilot program, TruRating is now live within the Poynt ecosystem. To learn more about how TruRating can help your business, visit www.trurating.com/business.

TruRating’s New Head of Online on How Retailers Can Solicit Real Feedback

Mary Hubbard TruRating

Mary Hubbard, Head of Online, talked to Hypepotamus about how she discovered TruRating and knew she had to be a part of the ratings revolution — even if that meant leaving a career in Silicon Valley behind. The interview covers how TruRating’s innovative solution allows merchants to understand their customers and make better decisions about their businesses. Check out the full interview here.