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Your target customers have five different brands offering the same products at competitive pricing. So, how do you ensure your existing customers stay with you while recommending you to their friends and families?
NPS® or Net Promoter Score® can help you effectively gauge who your loyal customers are and how likely they are to recommend your brand’s products/services. Conducting an NPS® survey can help you gather valuable insights into how customers perceive your business and where you stand in the market.
Here, we’ll see how to create NPS® surveys and their types.
Customer satisfaction metrics are used to quantify and measure customer satisfaction and loyalty. Net Promoter Score®, or NPS®, is a type of customer satisfaction metric that uses surveys to investigate how likely customers are to recommend a product or service to others.
To create NPS® surveys, you can ask variations of the question, “On a scale of 0-10, rate how likely are you to recommend us to your friends, family, or colleagues?”.
Most NPS® surveys only have this one question. However, you may also choose to include an open-ended question customized based on the score given by the respondent using a robust survey software. This provides you with the reason for the score, which you can analyze using sentiment analysis to explore the root cause of the score.
Stay ahead of the curve with our expert-led webinar on how to leverage data science to maximize NPS® insights.
Let’s walk through seven steps on how to conduct NPS surveys to gather insightful feedback from your target customers.
When using survey software to design your NPS survey, you need to start by giving your survey a title. This makes it easier for you and your survey agents to refer to the intended survey.
Add a title to the survey, as well as a brief description to explain the significance of the survey to its customers.
Examples of some NPS titles:
The title helps you ensure that your survey questions align with the purpose. Moreover, it also communicates to your audience why their feedback is important.
There are many ways in which you can frame the NPS® question, for example:
To ensure respondents understand how and why the question is relevant to them, add a short description that lets them know the purpose of the question.
A single rating question will not help you uncover the “why” behind the score. This brings us to step 3 of how to conduct an NPS survey.
Add a follow-up open-ended question simply urging respondents to share their reason for the score they gave. With a feature like Voxco’s NPS feedback collection you can customize the question as per the three categories – promoters, passives, and detractors.
Instead of asking a generic ‘why’, personalize the question to demonstrate that you care about your respondent’s experience and their opinions.
It’s also important to customize the survey to your company’s personality and identity. Leverage a survey platform that enables you to customize your survey with your brand’s logo, font, colors, style, and more. Utilize features like white-labeling or CSS customization to ensure your survey also reflects the brand identity and enhances the brand’s presence in the respondent’s mind.
Finally, add a thank you page to show your appreciation to the respondents who took the time to complete the survey and share their opinions. Add a personalized text to demonstrate your genuine appreciation.
There are different ways in which you can distribute online surveys. Below are the two most common ways:
The last step on how to conduct NPS surveys, i.e., data analysis, will help you align your efforts and strategies with customer expectations and experience. Tools like Voxco’s NPS dashboard pull data from your survey and organize the insight into different charts.
Voxco’s NPS dashboard categorizes the insights into four ways – NPS score chart, distribution chart, trend chart, and sentiment analysis chart.
This enables you to understand the findings and uncover insights to identify key drivers of customer satisfaction and reasons for churn and discover areas of improvement.
Also read: The Ultimate Guide to Choosing the Right NPS Software for You
→ Uncover the ‘why”.
→ Identify the key drivers of churn.
→ Discover ways to boost loyalty.
To efficiently implement NPS surveys in your customer research strategy, it’s important to consider a few factors.
Of course, when gathering NPS data, you have to ask the rating question. However, it won’t appeal to the respondents. It’s important to personalize the email content and add an open-ended question in your survey questionnaire to personalize the survey experience.
Use survey software that enables you to design NPS surveys, personalize them with follow-up questions, and share the survey link via multiple channels. Like Voxco’s NPS functionality, it empowers you to design NPS questionnaires and analyze the data on the same platform.
When you are concerned about how to do NPS surveys, it’s important to consider the NPS survey frequency and time of the survey as well.
A company should wait an appropriate amount of time before sending surveys to new customers. It is not effective to question customer loyalty too early, and survey responses may prove unreliable. It is important to wait until the customer has had significant experiences and interactions with the company before the survey is sent.
NPS® surveys can prove to be invaluable to a company for a number of reasons.
Companies benefit from having an idea of customer satisfaction and loyalty because the cost of acquiring a new customer (CAC, or customer acquisition cost) is significantly higher than the cost of retaining an existing one.
The business environment can be highly competitive with the introduction of hundreds of start-ups every day. It is important that a business holds on to its existing customer base and doesn’t lose it to competitors.
NPS® surveys allow businesses to categorize their customer base into three categories, which aids companies in diagnosing problem areas and customer expectations. This information could then allow companies to improve the experience for detractors and turn passives into promoters.
You should create NPS surveys because they provide meaningful insights into customer satisfaction and loyalty. Measuring the likelihood of customer recommendation enables you to identify areas of improvement and create targeted strategies to convert detractors into advocates and increase loyalty and customer retention.
NPS surveys help businesses to stay competitive and identify ways they can differentiate themselves from the competition. Leverage an NPS survey software and NPS dashboard to gain insights into customers’ needs, pain points, and preferences and improve customer satisfaction.
Net Promoter Score® survey consists of a single likelihood to recommendation question, which allows you to measure customer loyalty and satisfaction. It asks customers a single question to determine how likely they are to recommend a business’s products or services to others.
The metric is an indicator of customer loyalty and retention.
NPS® surveys differ from other customer satisfaction surveys in that they focus on measuring customer loyalty and likelihood to recommend rather than overall satisfaction. NPS® surveys also use a simple 0-10 scale to rate the likelihood of recommendation, which is then used to calculate the NPS® score.
This allows you to group customers into three segments:
The benefits of conducting an NPS® survey include gaining insights into customer loyalty and satisfaction. It helps you identify areas for improvement, the root cause of customer churn, and reasons for customer loyalty so you can create targeted strategies to increase customer retention and loyalty.
Many NPS® survey platforms allow for the customization of survey design branding and questionnaires. You can customize the look and feel of the survey by adding company logos and colors. You can further customize the follow-up question based on the scores respondents select without needing to add skip logic.
Using an NPS® survey app can provide benefits such as customized survey creation, easy survey distribution, automated survey administration, real-time data collection and analysis, and follow-up. Additionally, an NPS® survey app can often provide customizable reporting features.
NPS survey frequency depends on several factors, such as the size of the customer base, the nature of products or services, etc. Leverage an NPS survey software to schedule survey time and date. Here are three ways you can determine the frequency of your survey.
Triggered surveys: automatically sent after a specific customer interaction, such as a purchase or customer support request.
Net Promoter®, NPS®, NPS Prism®, and the NPS-related emoticons are registered trademarks of Bain & Company, Inc., Satmetrix Systems, Inc., and Fred Reichheld. Net Promoter Score℠ and Net Promoter System℠ are service marks of Bain & Company, Inc., Satmetrix Systems, Inc., and Fred Reichheld.
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