Chances are as a consumer you’ve probably received a Net Promoter Score (NPS) Survey asking, “How likely are you to recommend our product or service to your friends or family?” This tool is an integral way for your merchants to gain customers’ opinions and gauge their loyalty. It serves as an alternative to traditional customer satisfaction surveys and the results can correlate to potential revenue growth.
There are companies, as well as free tools, that will set up your Net Promoter Score Survey for your merchants and tabulate the results. It is important when sending it out to make sure to reach a wide sample size, both qualitative and quantitative. NPS has been adopted by two-thirds of Fortune 1000 companies. We take a look at how NPS is measured and what your merchants can learn from the results.
How do you measure it?
Net Promoter Score is based on an 11- point scale of 0-10. The results of the survey are broken up into three categories: detractors, passives, and promoters.
Detractors - These customers gave your merchant’s business a rating less than or equal to six. They aren’t thrilled with their product and are unlikely to give them a glowing endorsement. These are the comments your merchants want to pay the most attention to. The slightest factors could turn these detractors into promoters.