NPS score or Net Promoter Score is a measure of customer loyalty which indicates how likely the customers of a particular brand or business are to recommend it to others. This score is usually calculated by businesses based on Net Promoter Score surveys that are periodically sent out to the customers.
These surveys typically include questions such as how likely are the customers to recommend the brand to an acquaintance, and the answer has to be a number on the scale of 1 to 10. The NPS score is then calculated based on the answers provided by the customers.
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The Impact Of Your NPS Score And What It’s All About
[pullquote]The value of NPS score can range between -100 to 100, with an NPS score of -100 indicating that none of the customers tend to recommend the brand and an NPS score of 100 indicating that all the customers are promoters of the brand in question.[/pullquote] A positive value of NPS score is considered to be good and an NPS score greater than 50 is believed to be excellent. This score can be an extremely valuable feedback tool for a business for assessing their performance from the point of view of the customers.
At Bit Rebels, we aim to keep you up to date on all the latest methods to enhance and improve customer engagement, be it in the form of improving your customer service or by the means of revamping your digital marketing plan, therefore the benefits of evaluating your brand’s NPS score is yet another activity that we recommend to all businesses.
Thanks to the expanding reach of the internet, collecting customer response is quite easy but first, you have to create a Net Promoter Score survey that poses the right questions to the customers.
Once the results of the survey are in, to calculate the NPS score, you will need to subtract the percentage of people who said that their chances of recommending the brand are less than 6, on a scale of 1 to 10, from the percentage of people who said that this number was 9 or 10.
Once you have the NPS score with you, you may also be curious as to who are the customers that are acting like detractors and who are the ones who are promoters of your brand. Therefore, you can ask additional questions in your survey to collect the demographics of the customers, so that you can analyze and act upon the results in a more effective manner.
Customer loyalty is something that can make or break a brand, so if you receive a low NPS score, you must brainstorm regarding the areas of improvement. On the other hand, if you receive a high NPS score, you must try to understand what you did right to build a loyal customer base so that you can continue your efforts in that direction. Therefore, evaluating your NPS score on a regular basis is a very lucrative exercise, whether you are a business that is just starting out or an established brand that wants to continue expanding its customer base.
If you are interested in even more business-related stories and information form us here at Bit Rebels then there is a lot to choose from.
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