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Everyone knows word of mouth is often the best form of advertising.
In a conference call with analysts to discuss the most recent positive quarterly earnings, NeoGenomics CEO Douglas VanOort says the Fort Myers-based company measures how likely its customers are to promote the cancer-testing lab's services.
“We measure something called the net promoter score,” VanOort says on a transcript of the call posted on SeekingAlpha.com. “Many of our clients rated us very, very highly and are essentially promoters of our service. So good service leads to word-of-mouth referrals in some respects.”
That's important because the cancer-testing world is close-knit. “In this business, it really is about delivering consistently every single day good service to clients and when that happens, not only do you retain clients, but this is a small community,” VanOort says.
Word of mouth can also be effective when prospecting for new customers. “Increasingly we're getting work not only from pathology groups but from hospitals, oncology groups, academic centers, research centers and others,” VanOort notes.
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