Net Promoter Score (NPS) is a powerful market research methodology that determines how popular your product or service is with consumers. It may seem trite in this world of complex metrics and customer data overload, but this simple test of loyalty has formed the basis of game-changing improvements for thousands of companies.
Would You Recommend This Product?
NPS is calculated from the answers to one deceptively simple question – would your customer recommend your product to friends, family or anyone else. The number of people who will do this minus the ones who won’t, gives you the Net Promoter Score.
The score is generally broken down like this:
9 to 10 = promoters: Customers who like your brand and service and will most likely choose it again.
7 to 8 = passives: Consumers who are satisfied with what you provide but not overly enthusiastic.
0 to 6 = detractors: Consumers who had a poor or substandard experience with your product and who are unlikely to use it again or recommend it to their friends.
Obviously, the way to increase your NPS is to make your product or service more popular, and draw more promoters. Here's 5 tips that can help transform your promoter:detractor ratio forever.
1. Conduct a deeper Voice of Customer survey
To find out how you can create greater customer satisfaction and provide continuously improving Customer Experience, don't rely on the basic NPS survey alone. Trigger more specific customer surveys at targeted customer touch-points and after key customer events, such as point of sale or just after the customer has engaged with your website or visited your store. The more focused and event-driven your surveys the better your market feedback will be. Often a small change here or there - the result of some smart surveying practices, can lead to a significant increase in your NPS.
2. Everywhere customers interact with your brand, let there be consistency
Providing a high quality, consistent service leads to good customer experience and increases the likelihood that your product will be recommended to others. Never, ever underestimate the power of consistency to generate loyalty and referral from your customers. Get this right and your satisfied promoters will be legion.
3. Help your promoters tell everyone they ♥ you
It sounds simple but it is something that businesses too often neglect. For example, if your customer-promoter uses social media encourage them to tweet your product or post something on Facebook. Make sure you reward them and, all but guaranteed, you'll find in return, a valuable, long term asset who can't stop spreading the good word about your brand.
4. Ask your promoters how you can be even better
Some people naturally like to help and chances are your promoters are probably amongst them. Creating panels and feedback communities for this group will help you discover specific improvements in the short-term and develop wide ranging changes and better products and service provision in the long term.
5. See your detractors as invaluable teachers
While promoters are useful for businesses, detractors also have great feedback value. Finding out why they are unwilling to pass on the good word about your product can be more valuable than evaluating the consumers who like you most. Poor customer service can be rectified, as can glitches in your product that make it second best to your competitors.
In conclusion …
Using the Net Promoter Score isn't the be all and end all of customer satisfaction, let alone life-time loyalty. But it is a great place to start. It ensures you are on the right track – the trick is to keep optimising and stay responsive. Even when you get ahead and your NPS is riding high. Never rest on your laurels. Always keep striving.
If you want to see how a holistic approach to customer feedback can improve your business schedule a Questback Demo today!