"NPS, or your Net Promoter Score, is a gold mine.
It is a measurement of customer loyalty, based on the question, “On a scale of 1-10, how likely are you to recommend this product?” If the responses are 9 or 10, the customer is a promoter, meaning they would actively tell others about you and encourage them to use your service.
Detractors, on the other hand, give you a score between 0-6. This means they would not give you a favourable recommendation.
Your NPS score is calculated by subtracting the number of detractors from your promoters and then dividing that number by the total responses.
And although NPS is an easy data point to get from your customers, what you choose to do with it (and get out of it) is a much more difficult task. It provides an opportunity to thank and encourage your promoters, or figure out how to turn a negative experience into a positive one.
What do other companies do with this information? We set out and asked 5 Customer Success professionals how they use their NPS score to drive customer engagements and outcomes. They have great insights and there is plenty to learn!"
"How does your team leverage NPS to minimize churn?"
Best-of-breed companies leverage all forms of customer feedback, including NPS, to continuously improve their products and services, increasing customer experience and revenue retention as a result. By formalizing a practice of responding and adjusting to feedback, these companies are able to reap the benefits of a customer-centric practice to their competitive advantage.