Net Promoter or Net Promoter Score (NPS) is a management tool that can be used to gauge the loyalty of a firm's customer relationships. It serves as an alternative to traditional customer satisfaction research and claims to be correlated with revenue growth.
"Net Promoter Score" is a customer loyalty metric developed by (and a registered trademark of) Fred Reichheld, Bain & Company, and Satmetrix. It was introduced by Reichheld in his 2003 Harvard Business Review article "One Number You Need to Grow". NPS can be as low as −100 (everybody is a detractor) or as high as +100 (everybody is a promoter). An NPS that is positive (i.e., higher than zero) is felt to be good, and an NPS of +50 is excellent.
Net Promoter Score (NPS) measures the loyalty that exists between a provider and a consumer. The provider can be a company, employer or any other entity. The provider is the entity that is asking the questions on the NPS survey. The consumer is the customer, employee, or respondent to an NPS survey. You can't improve it if you don't know it!
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And it is really not that complicated. Some have even explained it on a Napkin! :-)
"In God we trust; all others must bring data."
(Trevor Hastie, Robert Tibshirani, and Jerome Friedman, co-authors of The Elements of Statistical Learning
You can't manage what you don't measure. It is an old management adage that is still accurate today. Unless you measure something you don't know if it is getting better or worse. You can't manage for improvement if you don't measure to see what is getting better and what isn't.
We can help. Using the Net Promoter System and by asking the Ultimate Question you can track the state of anything.
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Some companies send a question to their clients. Some to their staff, their vendors, etc. etc. You get to pick the group, you formulate the question and send it out. We help track the results for you. And since we are closely associated with the Answering Service business at some point we will provide bench-marking among your peers.
The way it works is you send out a question and allow the recipiants to provide a score (and some comments) about the answer. You add up the results to get your number. The goal is to then work with those results to improve the situation. Later you send out the same question and view the results. If the number is moving up, you are improving!
0 – 6: Detractors
7 – 8: Passives