The Net Promoter Score (NPS) has become one of the most widely used metrics in business. It answers a clear question: who are our most vocal supporters? Those who score your company highly can be considered promoters of your business. The detractors are taken into account, too, and subtracted to give you a net result. If you’re not using an NPS in your analytics, you’re missing out on heaps of great intel. Consider a few things you can learn.
4 Reasons to Use a Net Promoter Score
1. NPS Reveals Who Your Rabid Fans Are
Word of mouth is one of the most powerful forms of marketing. People inherently trust their friends and family, while naturally being skeptical of obvious forms of advertising. However, not all of your customers will march down the streets screaming your name. Only the most rabid fans, those 9s and 10s who wholeheartedly recommend your business, will go out of their way to proclaim your greatness. NPS surveys will help you determine who those people are.
An NPS survey typically features some “why” questions, and your most fervent followers will usually spill plenty of words into these boxes to help you understand why they love you so much. With this data, you can focus on amplifying the things your fans love, and you can also reach out to your staunchest supporters to collaborate on social media campaigns. Elevate the voices that want to sing your praises!
2. Build Brand Loyalty and Repeat Business
Net promoter score software plays a crucial role in unlocking opportunities to build brand loyalty and, perhaps even stimulate sales. Don’t just focus on the 9s and 10s. Those in the 6-8 range are satisfied, but they might need a little extra push to truly fall in love with your company. Reach out and find out what was missing from their experience to make it a perfect 10. Can you make it up to them still?
Sometimes that personalized outreach is all it takes for a customer to feel valued and turn into a true fan. You can also target upsale opportunities to satisfied customers who respond, possibly drumming up extra business in the process. Repeat your NPS process at least annually, if not more frequently, to identify more opportunities.
3. See Performance Relative to Other Companies
Your NPS can serve as a benchmark to compare against other businesses. Try to compare within your industry, as numbers vary wildly from one sector to the next. Regularly measuring your NPS helps you see performance throughout the year, which can be useful for seasonal comparisons in some businesses.
4. Find Out If You’re Loved or Hated
The 10% of clients that love you to death can create explosive growth for your business. Conversely, the small group that loathes your company can lead to its undoing. Consumers are inherently irrational, which is why Daniel Brian Advertising has built its NPS approach around irrationality. The Irrational Advocacy Index goes beyond Net Promoter Scores and dives into the dopamine that drives customer behavior and your company’s success.
Building a successful brand is more than acquiring consumers‘ brains; you need their hearts. Emotion and passion make the best promoters.