Net Promoter Score is a widely used market research metric that typically takes the form of a single survey question asking respondents to rate the likelihood that they would recommend a company, product, or a service to a friend. NPS is a great way to measure the loyalty of customers to a company. Below are some great tools, tricks and FAQ to boost a company’s NPS.
Measuring NPS/ Formula for NPS: It’s simple to calculate an NPS score – just subtract the percentage of Detractors from the percentage of Promoters. For example, if 10% of respondents are Detractors, 20% are Passives and 70% are Promoters, your NPS score would be 70-10 = 60.
NPS Scale: Net Promoter Score scales on a score of -100 to 100. Anything lower than -1 is considered needing to be improved, 0 – 29 is considered good, 30 – 69 is considered great and 70+ is considered excellent.
NPS Benchmark by Industry:
NPS Survey: The easiest way to find your Net Promoter Score is by including a question in your customer survey about if they would recommend your product or company to a friend/ family member/ colleague.
Example: On a scale of 1 to 10 how likely are you to recommend Benbria Loop Survey’s to a colleague?
Where do your Detractor’s/ Passive’s/ Promoter’s fall in the scale?
Detractors are those who would give your product or brand a score of 0-6.
Passive are those who would give your product or brand a score of 7-8.
Promoters are those who would give your product or brand a score of 9-10.
Improving your NPS can be simple when you focus and put a strong company focus on increasing your NPS and follow these steps:
NPS CSAT: Net Promoter Score and Customer Satisfaction go hand in hand! They work together to determine what customers think of your product or service and how likely they are to recommend it to a friend. In order to achieve a great NPS you need to ensure your customers are satisfied with your product/ service.
NPS and Customer Experience: Net Promoter Score and Customer Experience are directly related. If customers are happy and enjoy a product or brand they are more likely to recommend it to a friend.