Los Angeles— LabWorthy is empowering dental labs around the world to grow their business with the power of Net Promoter Score (NPS).
NPS measures customer loyalty and predicts business growth by asking your customers one simple question: How likely are you to recommend our company to a friend or colleague? Responses are given on a scale of 1 to 10, with respondents broken down into three groups: detractors (0-6), passives (7-8), and promoters (9-10). By subtracting the percentage of detractors from the percentage of promoters, a company can find its NPS.
With 25,000+ surveys already completed on behalf of lab clients, LabWorthy has established NPS average for the industry and uses this with clients to help them determine their ranking among their competitors.
According to CEO, John Schwartz,
When you can measure your lab’s NPS score against the industry average, you have real context for your score and a competitive snapshot that helps you continually improve versus the rest of the industry. This motivates the whole team to participate and spurs sustainable growth.
LabWorthy enables labs to compare their score to industry benchmarks and identify opportunities for growth. By identifying detractors and passives, labs can improve customer service, craft an ideal customer, and work to turn those customers into promoters before they churn.
The platform recently added new features that provide powerful insights to labs. Users can now track the loyalty scores by dentist over time and identify and help at-risk customers before they churn with real-time detractor alerts. Labs can also drive new business with an exclusive digital referral program which offers incentives to referrers.
LabWorthy recently partnered with LabStar, the cloud-based lab management software, to integrate LabWorthy’s NPS data into LabStar’s customer dashboard to give labs customer loyalty metrics at a glance. A dentist’s NPS score can be integrated with the customer details in LabStar, and LabWorthy can help labs automate NPS survey deployments based on dentists’ behavior. Jeff Noles, CEO of LabStar, describes LabWorthy as “the perfect tool to empower LabStar users to increase sales and better understand how to improve their businesses.”
And NPS adoption is growing amongst dental labs with LabWorthy recently signing up over 40 labs, including National Dentex Labs, Keating Dental Arts, and R-Dent to harness this powerful tool. Brian Smith, VP of Marketing at G&H Dental Arts, describes the LabWorthy experience in terms of valuable feedback:
G&H has enjoyed your our relationship with LabWorthy. It is great to give our customers the opportunity to give us feedback in a very low pressure way. In a competitive industry such as ours, it is important to know how we are doing from our customers point of view. It helps us to recognize what we are doing well and areas we need to improve.
And LabWorthy is just getting started. In January, the company raised $650,000 in growth capital to build out its platform and serve the entire dental industry. It also expects to launch a premium data insights subscription product in Q2.