What is NPS?
Wikipedia explains NPS (Net Promoter Score) as a gauge that companies use to measure a customers' loyalty to their business. This often is used with, or instead of, traditional customer satisfaction measurements. This calculation is understood to have a direct correlation with revenue growth.
This metric was developed by (and is a registered trademark of) Fred Reichheld, Bain & Company and Satmetrix.
A traditional NPS scale uses 0-10 to answer the question 'how likely are you to refer us (company/brand/services) to friends/family/co-workers?' This is meant to measure if a customer is a promoter (9-10), a passive (7-8) or a detractor (0-6) and therefore how likely they are to repeat their business or recommend determining how loyal the customer is.
Is NPS A stand-alone measurement?
This is a complicated question. For some yes, for others no. It really depends on what your business plans to do with the results. For authentic NPS surveys, any score that is 7 or below require follow up to gain insights into the justification of their response. This will help business articulate where they can improve.
If the NPS survey is delivered only to gain insights into a benchmark to see where your business stands, maybe follow up is not necessary. If you already have a plan for an improvement strategy and want to measure on a very high-level the 'before' and 'after', a solely NPS survey might work for your team.
How can you issue a strictly NPS survey?
NPS surveys can be a written web link, a QR Code, set-up on tablet in your location, an embedded code on a website for a survey pop-up, an email with a web link, a call-survey, how ever you want to issue your survey it can be done. With Shoppers Confidential, the set-up is easy, quick and affordable.
How can you view your NPS results?
With Shoppers Confidential, we will create your business their own custom portal with personalized logins for each user. Each user can log into their portal and view the results, automatically aggregate the data into reports and view follow ups (or action plans if set-up for their program).
Does NPS work with other insight products?
In fact, we recommend it. All of our survey, insights and feedback programs have the ability to ask an NPS question and display the results. We call it an NPR or Net Promoter Report, in a very easy to understand graphic within your custom portal. You can also then compare NPS results to overall deeper insight questions from your full survey and correlate the results to holistically view the Customer Experience.
Graphing NPS Over Time
It is important to be consistent with issuing NPS surveys to gain results. This not only allows your team to observe trends but can help you key into what causes the fluctuations and how can you prevent dips or overall improve your scores.
Promoters, Passives, and Detractors Explained
Our software automatically defines your top and bottom promoters and top and bottom detractors based on the answers to the questions. The more favourable the responses to the questions, the more promoting they becoming, highlighting your successes. The bottom detractors highlight your business opportunities to improve. When a continual improvement process or a corrective action process is in place, reviewing and correcting the detractors will poise your business to keep getting better and better and shows your customer that you listen to their feedback.
NPS can be integrated into a POS system, a onsite tablet or kiosk, or delivered via email, text or a QR code scan. Whichever delivery system makes the most sense for you and your team, we can work with you to have it set up. Our results portal is also able to integrate with Slack and other CRM systems to ensure that you are getting the results that you need as you need them. Set up a meeting with us and our technical team to discover how this can work for you.
READY to find your promoter and detractors?
We would love to set up a meeting with you to design a program that suits your needs and budget.