Promoter.io has raised $1 million in funding for its self-service customer loyalty platform. The platform automates the task of capturing feedback from customers under the standard for customer loyalty, the Net Promoter Score.
With the Net Promoter Score, a company asks its customers if they will recommend it. If it continuously asks that question over time, it can gather valuable data that it can use to predict customer behavior, proactively eliminate churn, and prevent negative word-of-mouth, according to San Antonio, Texas-based Promoter.io. You can use it to identify your most loyal promoters, and that, in turn, helps you grow your brand and revenues.
“It can be devastating for a company to fail to understand how their customers truly feel about their brand. We built Promoter.io to make it incredibly easy to engage customers using a proven method that will lead to revenue growth, increased profitability, and reduced churn,” Chad Keck, CEO and cofounder of Promoter.io, said in a statement. “Our mission is simple — we empower all businesses to drive consistent, profitable growth by focusing on what builds loyal customers.”
Promoter.io says that its customers can get started in minutes, with no real engineering expertise required. It offers a software-as-a-service platform with analytics that help you zero in on your best brand advocates.
Keck was previously a product lead for Rackspace and Hewlett-Packard. One of his strategic advisors and investors is Fred Reichheld, who created the Net Promoter Score. Lots of brands spend millions of dollars per year and hire teams of employees and consultants to run major NPS programs. But startups can’t afford to do this.
In a statement, Reichheld said, “Promoter.io has done an excellent job of enabling the kind of ‘Lean NPS’ process we recommend in ‘The Ultimate Question 2.0.’ With a nice balance between self-service simplicity and a powerfully comprehensive solution, Promoter.io stands out as one of the real leaders in the customer loyalty space.”
Investors include Lew Moorman, Pat Condon and Pat Matthews of Rackspace, the Geekdom Fund, MaxCDN, and others. Strategic advisors include Rackspace chairman Graham Weston, Geekdom Fund Partner Don Douglas, and Lucas Carlson, founder and CEO of AppFog.
“Promoter has helped us tremendously. This is the only platform that allows us to drive highly actionable feedback from customers, analyze the responses for critical insights, and effectively close the loop all in one place. Anyone not using this tool is doing a disservice to their company,” said Rackspace head of support Joe Dan Dockrey in a statement.