If you’re interested in figuring out whether measuring NPS would make a difference for your business, keep on reading. You’ll learn:
Let’s get to it!
The respondent answers the question on a scale of 1 to 10. 1 stands for a highly unlikely recommendation and 10 a very likely one.
Based on their answers, the respondents are divided into three categories:
9-10 = Promoters
7-8 = Passives
1-6 = Detractors
NPS is calculated by subtracting the percentage of Detractors from the percentage of Promoters. This will give you a score between -100 (no Promoters) and 100 (no Detractors).
We have an interactive NPS calculator that you can try, if you want to calculate NPS by using with different scenarios even before having actual NPS data.
NPS scores vary across different industries, but a positive NPS (one that is higher than zero) is generally considered good. An NPS score of +50 is generally deemed excellent, and anything over +70 is exceptional.
You can compare how you compare in your industry by taking a look at the data collected by NPS Benchmark.
Here’s an example survey to showcase how easy it is to answer:
To get the most out of NPS:
NPS is not only one of the easiest metrics to use, but it also gives you insights on the success of your business. It can be used to predict business growth.
Or if you’d rather do it yourself, here’s how you can get started.
No matter if you’re a B2B or B2C business, the following steps are universal.
Define internally what it is that you want to measure. Ask yourself at least the following questions:
Once you’ve set your goals, it’s time to choose the Net Promoter Score system or software you want to use.
There are many different NPS software to choose from, but we recommend using one that is flexible to use. Furthermore, you’ll get the most out of NPS, when you can automate the sending of the NPS surveys to whichever triggers you want.
Once you’ve decided on which service to use for sending NPS surveys, it’s time to create the survey itself.
If you’re using Trustmary, you can use the ready-made NPS survey template which simultaneously asks the client if they’d like to give their feedback publicly or not. In other words, you can collect testimonials with the same survey!
In addition, you can customize it as you wish with the drag and drop survey-maker, and even add more questions, if you’d like.
Once you’ve created the survey, it’s time to send it or automate which triggers will send it. Typically, you can either import a contact list manually or integrate the NPS software with your CRM to avoid exporting and importing data manually.
Once the results come in, it’s time to sit down with your team to analyze what makes your customers happy and where you still need to improve on.
The more customer data points you have, the better you can analyze how well you’re doing in different areas of business.
Analyzing the results is a constant process that should be done at regular intervals for the best results! Sending your first NPS survey is a great starting point, but that’s only where the work really begins.
When you start regularly measuring your NPS, you can find patterns which impact your customer satisfaction and loyalty. In order to notice these trends, you need to:
Include the relevant team members into analyzing the results, and don’t forget to compare results between departments!
More importantly, keep in mind that your board of directors need to be aware of how your NPS is doing.
After all, NPS explains roughly 20% to 60% of the variation in organic growth. Net Promoter Score can be an indicator of future growth.