Just what B2B needs – another bloody acronym. But NPS (net promoter score) has actually been around for a while – the question is: is it all it’s cracked up to be? Jess Pike investigates
What exactly is it?
As a descriptor net promoter score (NPS) was coined by author, speaker and business strategist Frederick Reichheld in the Harvard Business Review back in 2003. His claim was simple: NPS “… is the one number you need to grow”.
So what did he mean by this? According to Vanessa Thompson, senior vice president, CX insights at Bluewolf, NPS is a single measure of customer loyalty. “It’s one question – ‘How likely is it that you’d recommend [this company] to a friend or colleague?’ – that delivers a single numerical response from zero to 10, with those that score a 9-10 being ‘promoters’. You also have ‘passives’ and ‘detractors’. NPS aims to isolate the most satisfied customers so a company can focus on those customers in order to drive profitable growth.”
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