The world is full of numbers. We are constantly bombarded with numbers in the business world - acquisition costs, churn rates, virality factor, PageRanks, EBIT, LCV, CPC, users, retention rate, email subscribers, social metrics, bounce rate, and the list goes on!
And although there is a multitude of numbers to choose from when talking about your business, there are only a solid few that matter, and Net Promoter Score (NPS) is one of those.
Your Net Promoter Score is equated by sending out surveys to your customers, and them rating the question 'how likely are you to recommend YOUR BRAND to a friend' from 0 to 10.
You then take the percentage of promoters (people that give a score of 9-10) minus the percentage of detractors (people that give a score of 0-6) and voila, this is your NPS.
On face value, it's easy to dismiss NPS as just another number, but there is something that dramatically stands out - NPS revolves around your customers.
Any company can spend $100,000 on marketing and generate a ton of users, enough to pretend they have solid growth to any investor. But only companies that are truly customer focused will maintain a high NPS score throughout the process.
And the value of a high NPS score goes far beyond happy customers. The more promoters your company has, the more word of mouth you'll receive, the more positive reviews you'll be able to gather and ultimately the faster, and more sustainable your company will grow.
And NPS has been gaining massive traction in some of the worlds biggest companies such as Slack, Salesforce and Zendesk. Slack's CMO Bill Macaitis, who managed to lead a few of the world's biggest marketing campaigns, has said that:
"NPS is the most important metric, NPS provides a north star for everyone in the company to understand."
It's no coincidence Bill has helped create a few of the world's most successful companies as every single one of his marketing campaigns revolves around NPS.
Net Promoter Score helps keep everyone in check. If your NPS surveys start receiving a lot of feedback about the support person named Sue, you can quickly figure out what's happening and how to resolve the problem!
Likewise, if you start receiving a lot of positive feedback about your latest in-app feature, this means your customers love it and you should use it as a selling point for new users!
On top of the monitoring, it also provides a place for you to find your brands evangelists. Those few customers who absolutely love your brand and want to do everything they can to spread your name. We've all met an Apple evangelist, and we've all met a CrossFit evangelist, now it's time you met your evangelists.
Setting up a NPS system helps you identify who loves your brand, why they love your brand and creates an open dialogue so you can nourish these customers and help them leave reviews, write case studies and ultimately tell the world why you're number one.
And setting up an NPS system isn't hard! Software platforms like AskNicely make it super easy. Within 10 minutes you're set up for the year, touching base with your clients as many times as you want (we recommend quarterly), sending updates on your customers thoughts to your inbox each morning and giving you the ability to resolve any problems in real-time as well as promote any wins!
On top of this, AskNicely helps you optimize your engagement by allowing customers to do it all in the safety of their inbox.