What is a Net Promoter Score?
The Net Promoter Score is an index ranging from -100 to 100 that calculates the willingness of a customer to recommend a brand’s product or service to others. It is used as an envoy for measuring the customer’s overall satisfaction with a company’s product or service and loyalty to the brand.It was developed by Fred Reichheld, Bain & Company in 2003.
7 Ways how NPS helps in transforming business
- Determining Pillars for marketing strategies.
- Provides Accurate Reports
- Gives Powerful Insights
- Encourages customer feedback
- Lower customer churn rate
- Improves customer relationships
- Enhances lifetime value of your customers
You can collect information about different aspects of your business using the Survtapp Web & Mobile Platform. Survtapp Survey Software works like a Net Promoter Score Software which allows your brand to track how satisfied your customers are and if they’re willing to stay loyal to your brand.It’s a useful metric that can offer quite a bit of insight into your customers and allow you to stay in touch with reality in terms of the customer’s experience
Summary:Net Promoter Score = Number of Promoters – Number of Detractors
- A Promoter is a loyal customer of the brand and is willing to tell his friends and family about your brand and it’s usage.
- A Detractor is a displeased customer of the brand who is so unhappy with using your product or service that he is likely to (on a scale of 0 to 6 where 0 is highly likely and 6 is least likely) talk bad about your brand’s products and services.
- A Passive is a neutral customer who is neither pleased nor displeased and is generally of the viewpoint that he or she has not much to talk about your brand’s product or service.
There are other analytical scores as well like Customer Experience Score, Customer Happiness Quotient, etc, but they provide short term solutions.