Why Net Promoter Scores are so important for your Business
The Net Promoter Score is an index ranging from -100 to 100. This score measures customer recommendations for your products and services, and gauges overall customer satisfaction rates and loyalty to your brand.
How it is calculated
Customers are surveyed and asked to rate on an 11-point scale the likelihood they would recommend your company, or products to a friend or colleague. The question would be phrased like this:
“On a scale of 1 to 10, with 10 being the highest, how likely are you to recommend this company’s product or service to a friend or colleague?”
It is important that the data is properly analysed and all scores are dissected to figure out the root causes of detractor experiences, to help with future business growth, profitability and sustainability.
The Net Promoter Score
On the opposite side of the scale, you will have Detractors, which are those that gave a score lower to or equal to 6, shown below in red. It is likely they will not be purchasing again from you and were not at all satisfied with your products or services.
In the yellow are the Passives, who will give a score of 7 or 8. These customers are satisfied but could easily switch to a competitor if given the opportunity. Finally, you have the Promoters who answer either 9 or 10 in green, and absolutely love what you have offered them as a company and will guarantee to be recommending you to other potential buyers.
The Net Promoter Score is important for your business when retaining customers, and increasing your chance of sales. It must become a part of a broader ecosystem whereby your company lives and breathes by it and doesn’t just use it every once in a while.
You must be able to act upon real-time feedback and from insights from customers and the rest of your organisation to help learn to improve your customer experience.
How Liquidline measures Net Promoter Scores
We like to keep record of our customer base and our NPS scores every time one of our engineers visits and installs a machine. We are proud to say that we have an average of 62.96% of Promoters who would highly recommend us to a friend or colleague and are very happy with the service Liquidline is providing. You can keep track of your scores by creating a database that can be shared with your employees in your company. It can be used to improve and provide the best customer experience possible and to help convert customers who are less happy to allow for increased revenues and profits.
