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On a scale of 0 to 10, how likely are you to recommend [X company, product, or service] to your friends or colleagues?
Chances are you’ve seen this question before. It’s a tool that hundreds of companies use with customers to determine their Net Promoter Score (NPS).
Why should a company care about its NPS?
It happens that the NPS is an elegant metric that helps determine customer loyalty and a company’s future growth.
It happens that the NPS is an elegant metric that helps determine customer loyalty and a company’s future growth.
Bain & Company, where the NPS metric was developed, found that a 5% increase in customer retention could yield anywhere from 25 to 100% improvement in profits. Companies with the highest customer loyalty typically grew revenues at more than twice the rate of their competitors.
Why should a company care about its NPS? What are the implications for the nonprofit sector?"