Net Promoter Score

Net Promoter Score Net Promoter Score

Getting a single number for how your company is doing in the marketplace can be powerful. It allows you to see where you stack up, even across industries, and it can be tracked over time to uncover trends. 

Net Promoter Score™ (NPS™)  is a quick measurement of how many Promoters, Passives and Detractors your company has and gives you an score that you can track over time. There is one initial question that is asked: “On a scale from 0 to 10, with 0 being ‘not at all likely’ and 10 being ‘extremely likely,’ how likely is it that you would recommend our company to a friend or colleague?”

NPS™ values range from -100 (where everyone is a detractor) to +100 (where everyone is a promoter). A positive (greater than zero) NPS™ is viewed as good, while values above +50 are considered excellent.

Net Promoter™ is simple in concept, but quite powerful in practice. NPS™ is a number that can be shared throughout your organization without concern for revealing confidential or sensitive information, for example. Your score can be used both as a rallying cry on the organization’s part if it is low, and a reward for a job well done if it is high.

An important part of Net Promoter™ that can get lost is the followup aspect – simply finding your score is only a part of the process. The Net Promoter™ process itself is designed to ask followup questions to uncover insights. A dialog needs to be established so the reasons for each customer’s rating can be understood. Was there a problem with the product? Is there an issue with support? Is the product roadmap well defined?

By leveraging the voice of the customer through a Net Promoter Score, Veralytics gives you the power to know:

  • What’s my overall Net Promoter Score™?
  • How is my NPS™ trending over time?
  • What are the issues negatively impacting my score?
  • What are the aspects of my company and product that positively impact my score?
  • Are there specific issues that need to be addressed immediately?

While the Net Promoter™ process is untouched, Veralytics adds value in the follow-up phase with our proven methodology, which is built around three discrete phases:

  • Capture accurate and unbiased information directly from customers: Our field analysts are seasoned professionals who are trained to actively listen to customers, seek honest, candid responses and to probe for underlying sentiment in a way that only an unbiased third party can.
  • Isolate insights that drive purchasing decisions: There can be a vast chasm between what people say and what they do. Veralytics has built an analytic platform that correlates words and actions to differentiate customer insights that affect buying behavior from those that don’t – allowing our clients to focus on the insights that matter.
  • Develop actionable recommendations that will improve performance: Our account teams are experienced Sales, Marketing and Product practitioners who understand business dynamics as well as the research and statistics behind them. Each recommendation that we deliver must be: 1) actionable 2) supported by fact, and 3) tied to performance improvement.

Veralytics establishes a baseline score and provides you with actionable insights gained through the process. Veralytics then continuously monitors your score and tracks it over time, ensuring that the changes made to your business are increasing your score.

 

* Net Promoter, Net Promoter Score and NPS are trademarks of Satmetrix Systems, Inc., Bain & Company, Inc., and Fred Reichheld.