Net Promoter Score: Why are promoters so important?
The Net Promoter Score (NPS) is the most widely used method worldwide to measure customer satisfaction. The Net Promoter Score (NPS) consists of a recommendation question. The respondent is asked to what extent they would recommend the company/product to others. The respondents can give a score between 0 and 10. Respondents who are very satisfied and give a 9 or 10 to the NPS question are called promoters. The promoters are the ambassadors of your company. They are the people who are most likely to recommend your company. Promoters have a number of positive, proven qualities that can drive economic growth.
Striving for a high level of customer satisfaction with as many promoters as possible is essential for short and long term profitability.
6 advantages of promoters:
What are those positive qualities that make promoters so important?
1. Promoters come back more often
On average, a promoter is more likely to return as a customer to your company. In addition, very satisfied customers (promoters) on average remain customers for a longer period of time.
2. Promoters buy more
Compared to less satisfied customers, promoters buy more products or services from your company. Their interest in other products is also greater and they are more inclined to purchase other products. Research shows that a promoter generates up to four times more sales than customers who are less satisfied.
3. Promoters refer friends, family, colleagues and business partners
When it comes to the willingness to recommend a company, a promoter (on a scale of 0-10) gives a 9 or 10 a. In B2B even ±80% of new customers come through recommendations by customers and employees. When a promoter has recommended your company to a friend, they are 4x more likely to buy something. Of course, you can also lend a hand; actively ask your promoters for warm leads that you can approach. That way, you avoid a shortage of new leads. In addition, you can consult them to set up testimonials to boost your marketing activities.
4. Promoters provide valuable feedback and ideas
The promoters are critical and give their honest opinion and come up with ideas. With this valuable feedback, products and business processes can be improved. With the right focus, it is possible to determine what needs to change and what does not (for the time being).
5. Promoters are cheaper
It is 6 to 7 times more expensive to attract a new customer than to retain an existing one. In addition, a promoter is less likely to complain, resulting in lower costs for complaint handling.
6. Promoters are less sensitive to price changes
Promoters are generally less sensitive to price changes. They believe that they are generally getting good value for money from the company.
Would you like more information about how we measure the Net Promoter Score (NPS)? Then click below.
Merel Eijkelkamp
Junior Project Manager