Net Promoter Score (NPS)* has become a popular advocacy metric since first introduced by Fred Reichheld in 2003. Today it is embraced by some of the world’s largest and most respected companies as a key performance indicator. The simplicity of NPS is that it links customer loyalty to the answer to a single question on a 0 to 10 scale:
“How likely are you to recommend [company name] to a friend or colleague?”
In recent years, the Net Promoter concept has been extended to measure employee engagement as well as customer loyalty, hence the term Employee Net Promoter Score (eNPS).
Deep-Insight has been collecting and monitoring Net Promoter data since 2006 and today both our customer and employee assessments incorporate NPS as an integral part of our assessments.
NPS is a beautifully simple performance metric:
Your customer portfolio – or indeed your own employee base – will have some combination of all three levels of advocacy and different strategies are required for each level. Understanding the profile of you customer or employee base is an important first step to deciding what actions to take.
But is Net Promoter Score too simplistic for B2B relationships?
The short answer is Yes – you need to go further and delve deeper.
B2B customer relationships can indeed be complex. Long-lasting partnerships are built upon a combination of excellent service, a strong brand and trusted committed relationships – across multiple contact points. Deep-Insight’s Customer Relationship Quality (CRQ™) methodology has been designed specifically to help sales directors and account managers manage the complexity of these B2B relationships.
NPS clearly works as a B2B metric for identifying IF a company has a loyalty problem. CRQ complements NPS by identifying WHAT is causing the problem and HOW the problem can be fixed. The combination of CRQ and NPS can have a powerful and positive effect on both top-line and bottom-line performance.
To download our White Paper on getting more out of your Net Promoter Score: Click here.
If you are interested in tracking NPS for either your customers or your employees, contact us.
* Net Promoter® and NPS® are registered trademarks and Net Promoter SystemSM and Net Promoter ScoreSM are trademarks of Bain & Company, Satmetrix Systems and Fred Reichheld