Is NPS the one number you need to grow?

NPS THE ONE NUMBER VOU NEED TO GROWC NET PROMOTER SCORE (NPS) MEASURES THE LOYALTY THAT EXISTS BETWEEN A PROVIDER AND A CONSUMER. NPS It was first developed in 1993 by Fred Reichheld and later adopted in 2003 by Bain & Company and Satmetrix as a way to predict customer's overall loyalty to brands. WHY DOES NPS STAND OUT FROM OTHER-METRICS? SIMPLICITY: 1. IT'S BASED ON A DIRECT QUESTION: HOW LIKELY IS IT THAT YOU WOULD RECOMMEND OUR COMPANY/PRODUCT/SERVICE TO A FRIEND OR COLLEAGUE? THE SCORING FOR THIS 7 ON A O TO 10 SCALE. ANSWER IS MOST OFTEN BASED 2. PROMOTERS are those who respond with a SCORE OF 9 OR 10 and are considered ENTHUSIASTS LOYAL DETRACTORS are those who respond with a SCORE OF O TO 6 UNHAPPY CUSTOMERS. SCORES OF 7 AND 8 ARE PASSIVES. NPS SCORE THE MATH IS SIMPLE % of promoters - % of detractors. Results will go from - 100 to 100 so... A MORE POSITIVE NPS MEANS MORE PEOPLE WILL BE RECOMMENDING A COMPANY OR PRODUCT ORGANICALLY. 3. COMPANIES ADD OPEN-END QUESTIONS TO THEIR SURVEYS, soliciting the reasons for a customer's rating of that company or product. provided to front-line employees and management teams ARE THEN FOR FOLLOW-UP ACTION TOWARDS AN IMPROVED SATISFACTION. These reasons NPS PROVED ITSELF TO BE A GREAT TOOL TOWARDS GROWTH! "Evangelistic customer loyalty is clearly one of the most important drivers of growth. While it doesn't guarantee growth, in general profitable growth can't be achieved without it". -Fred Reichheld Harvard Business Review NPS WHAT ARE THE TOP': 10 U.S. NPS FOR 2013? 4. 76% 5. 75% 80% 78% 3. 78% DILLARDS APPLE - LAPTOP COSTCO USAA INSURANCE USAA - BANKING 10. 65% 75% 7 70% 8. 69% 9. 66% 6. SOUTHWEST AIRLINES APPLE - IPAD AMAZON APPLE - IPHONE NORDSTROM NPS IN LAPTOPS AND SMARTPHONES? 1) APPLE = 80% 2. HP = 46% LAPTOPS 1. APPLE = 67% 2. SAMSUNG = 54% SMARTPHONES %3D AND HOW ABOUT 1. SHORETEL = 74% NPS IN IP TELEPHONY SYSTEM MANUFACTURERS? 2. AVAYA 31% %3D 3. MITEL = 29% 4. CISCO= 21% SOURCES: http://en.wikipedia.org/wiki/Net_Promoter https://support.zendesk.com/hc/en-us/articles/203759076-NPS-best-practices-What-is-Net-Promoter-Score-and-hou-does-it-help-me-> http://www.netpromotersy stem.com/system-processes/leadership-and-communication.aspx http://www.cmsc-solutionscom/press_releases/Hartex20 Hank s*201Px20Telephonyx20Manufacturerx20Customerx20Loyaltyx20Reportx20-x20Julyx202012.pdf http://customergauge.com/news/2014-net-promoter-benchmarks/ CHARACTER ILLUSTRATION: VECTORCHARACTERS ONVERGED Copyright e 2014, Converged Technology Professionals, Inc. TECHNOLOGY PROFESSIONALS