What is Net Promoter Score (NPS)?
In today’s market customers have more choices than ever, so creating a lasting impression and building strong customer loyalty is make or break.
How do we know that we are in fact aligning with their needs, giving us a better chance that we’re their top choice? NPS is one way.
Net Promoter Score (NPS) made simple
Net Promoter Score (NPS) asks “How likely would you be to recommend us?” (on a scale of 1-10).
Customers evaluate their experience, and their responses place them into one of three categories:
- Promoters are enthusiastic and loyal supporters. (rating of 9 or 10)
- Passives indicate satisfaction but not enough to pledge high levels of loyalty. (rating of 7 or 8)
- Detractors express dissatisfaction, potentially affecting future business interactions. (rating of 6 or below)
NPS can be applied to your organization as a whole, or can be asked in relation to specific elements, such as individual products, stores, web pages, and even the performance of staff members.
Practically speaking, most organizations include the NPS question in their customer or account surveys, or better yet, in their customer interviews.
NPS is now a widely accepted measure due to its versatility and because of the ease with which it helps us zero in on areas in need of improvement to enhance the overall customer or stakeholder experience.
How do you use Net Promoter Scores (NPS)?
The resulting score from an NPS question provides a clear indication of overall customer sentiment. However, the true value of NPS lies not just in the numerical score, but in the actionable insights it can yield. The key is to probe to understand their reason for their scoring.
By delving into the reasons behind their customer’s scores, businesses can fine-tune their operations and drive improvements in product quality, service, and overall customer experience.
Putting Net Promoter Scores (NPS) into action
At T4 Associates, our goal is to help our clients achieve greater success through actionable customer insights.
NPS is one method by which we collect this feedback and turn customer insights into actionable steps.
By helping you collect valuable feedback on your customers’ experience, we can then make data-driven decisions designed to:
- empower you to gain more traction in your market
- bolster your customer retention rates
- foster sustainable growth
- help you win more clients
Our approach to bringing NPS to life has 3 steps:
- Interviewing your most valuable customers/accounts.
- Pinpointing valuable information from each interview.
- Extracting actionable insights that fuel data-informed decision-making into a distilled report.
Using NPS, we offer a pathway to not only measure customer loyalty and satisfaction, but to actively leverage this metric to propel your business forward.
Get started with Net Promoter Scores (NPS)
If you’re ready to bring actionable insights from NPS to your organization, get in touch. We can discuss if a customer engagement is right for your organization and the next steps in unlocking the power of your customer feedback.
