Net Promoter Score (NPS) Definition
NPS measures the willingness of a customer to recommend your products or service to their friends and family. If most of your customers are happy to recommend your services, they are comfortable doing business with you and will continue doing so.
Here's the Net Promoter Score (NPS) question :
"How likely are you to recommend our company on a scale of 0 to 10 to a friend or colleague?"
Based on the responses, the respondents are classified into three:
Detractors: They give you a score of anywhere from 0 to 6. These customers are not happy with your brand, and the chances of you losing their business is high. In addition, they might be on the verge of publicly posting bad reviews about your brand.
Passives: They are the ones who give you a score of 7 or 8. While these customers are not incredibly blown away by your brand, they are moderately happy and stay with you for the time being. However, as soon as they find a better service or a product, they will abandon you. By concentrating on them, you can convert them into a promoter.
Promoters: These customers gave you an NPS rating of 9 or 10. They are totally in love with your brand, will go out of their way to recommend it to their friends, and will stay loyal. They are easy to upsell and cross-sell and will be the first to try out your latest products.
How to calculate your Net Promoter Score (NPS) score?
NPS= % of Promoters- % of Detractors.
The NPS score is a whole number, and it could be anywhere from -100 to +100.
Net Promoter Score (NPS) Examples
Based on global standards, any score above 0 would be considered reasonable. It means that there are more loyal audiences than not. If your company's NPS score is above 20, it is deemed favorable, says Bain & Co (they are the ones who invented the NPS concept). Any score above 50 is excellent, while 80 is highly desirable and shows how loved the company and its products are.
Tesla's NPS score is 96. While Tesla is an outlier, do note that NPS scores depend on the industry that you are in. A consumer electronics company will have a higher NPS standard for the entire sector, while the telecommunications industry will have a low NPS score. For example, Vodafone's NPS score is -1.
Net Promoter Score (NPS) benchmark by industry leader :
The NICE Satmetrix NPS Benchmarks rates the top industries, and the scores we have mentioned below are that of the industry leaders. After surveys from more than 65,000 US consumers, the reports are gathered, covering nearly 221 brands.
Here is a breakdown of the scores below:
- Alaska Airlines +71
- USAA +66
- AT&T TV +40
- Vanguard +68
- Cricket Wireless +49
- Apple +60
- Kaiser Permanente +48
- AT&T Fiber +27
- Costco +59
- DHL +54
Why should you not ignore the Net Promoter Score (NPS) ?
If your NPS score is less than the industry average, it means that many of your customers are unhappy with you and that your competitors are faring better than you when it comes to keeping their customers satisfied. You need to retain your customers if you want to thrive, not just stay afloat.
Here are a few more reasons why you should not slack when it comes to measuring NPS.
- It is easiest to gather feedback as customers only need to respond to a simple scale.
- It helps you increase your retention rate by identifying your detractors.
- When a customer responds with a 9 or 10, you know it is the right time to upsell and cross-sell to them.
- Predicts the trajectory of your business. If you see a decline in your NPS scores, it's time to work extra hard on keeping your customers satisfied.
- Convert your moderately satisfied customers into brand ambassadors.
- Increase the CLV (Customer Lifetime Value) metric by creating more brand advocates.
- It helps you get real-time insights.
- Closed-loop feedback provides an outstanding experience for your customers.
- Benchmark your NPS score against the competition so that you see where exactly you stand in the industry.
- Increasing the survey response rates since NPS is a simple question.
Must-have Features in an NPS Software :
When you are all set to add NPS surveys to understand how satisfied your customers are, you need to choose the feature-rich ones. So here are a few must-have features:
- The NPS survey tool should be flexible to conduct several campaigns simultaneously.
- Integration with third-party tools plays a vital role in enhancing the functionalities of the survey tool.
- It should have a rich dashboard and analytics, which will make it easy to interpret and analyze the data.
- It would be best if you had more control of how your surveys are being delivered- such as the ability to add your logos, thematic colors, and other brand identities.
- The NPS survey tool should offer advanced targeting options.
- It should allow you to ask follow-up questions to close the feedback loop.
- Allow you the freedom to dictate when and how you send the NPS survey questions to your audience,
- The survey tool should allow you to distribute your NPS surveys through multiple channels.
- It should work seamlessly on all types of screens- mobile devices, tablets, laptops, desktops, iPad, etc.
- The NPS tool should also help you study CX metrics such as CSAT and CES. Only then is it possible to identify customer loyalty? NPS on its own doesn't tell you whether the customer is loyal.
Let us look at the top 6 Net Promoter Score (NPS) software for 2022 :
When choosing an NPS survey tool, make sure that it has the above features. We hope the tools mentioned below will work for your business.
In addition, we have included:
- Details about the features available.
- The types of functionality they offer.
- Their pricing information.
1. Qwary
Qwary is an end-to-end engagement survey and analytics platform. Thanks to the multiple touchpoints that Qwary supports, it lets you understand customers on a deeper level. You can set automatic triggers for specific keywords and collect a massive database of NPS survey data. Match particular points in the customer journey and measure NPS survey results over time.
Do you want to conduct a face-to-face NPS survey? That's possible, too, as Qwary allows for video NPS surveys. In addition, Qwary's AI-driven translation tools let you create your NPS surveys in more than 100 languages.
By taking immediate follow-ups, Qwary lets you turn your insights into actions. The conversational style that it follows makes the follow-ups seem like a breeze. Quarry's analytics engine compares NPS variables, which will help the business understand customers' hidden trends and purchasing behaviors. Thanks to its sentiment analysis feature, it will also help you figure out why there is a fluctuation in your NPS score.
The NPS insights from Qwary are a treasure trove of actionable items. It shows the following:
- NPS scoring trend over time
- NPS Volume
- Correlation analysis with CX metrics like CSAT, CES, and Sentimental AI
While NPS on its own doesn't solve problems, you need to couple them with CX metrics. Quarry's evolved NPS tool doesn't just help measure customer loyalty, but it also provides a 360-degree understanding of one's customers. When you couple NPS along with CES, CSAT, Key Driver Analysis (KDA), and Sentimental analysis, businesses will be able to unearth insights that will tell them volumes about customers' motivations and pain points that affect customer loyalty.
Pricing :
Qwary has the most flexible plans for different business sizes in this category.
Starter : In this plan, user gets to select 100, 500 & 1000 responses per month. You can send unlimited surveys and unlimited questions per survey. CX Reporting including NPS is included in this plan. It's an ideal plan for startups.
- 100 responses/month is priced at $29/month or $228/year
- 500 responses/month is priced at $39/month or $348/year
- 1000 responses/month is priced at $49/month or $468/year
Growth : In this plan, user gets to select 500, 1000, 2000, 3000 & 5000 responses per month. You can create unlimited custom CX/EX dashboards.
- 500 responses/month is priced at $49/month or $468/year
- 1000 responses/month is priced at $59/month or $588/year
- 2000 responses/month is priced at $69/month or $708/year
- 3000 responses/month is priced at $79/month or $828/year
- 5000 responses/month is priced at $89/month or $948/year
Expert : In this plan, user gets to select 500, 1000, 2000, 3000 & 5000 responses per month. SMS Survey, Text Analytics Keyword Tagging are included in this plan.
- 500 responses/month & 500 SMS/month are priced at $59/month or $588/year
- 1000 responses/month & 1000 SMS/month are priced at $99/month or $828/year
- 2000 responses/month & 2000 SMS/month are priced at $149/month or $1188/year
- 3000 responses/month & 3000 SMS/month are priced at $299/month or $2388/year
- 5000 responses/month & 5000 SMS/month are priced at $399/month or $3588/year
- 10,000 responses/month & 10,000 SMS/month are priced at $599/month or $5988/year
2. ProProfsNPS
To understand customers' loyalty and find ways to increase them, ProfProfsNPS is one of the best NPS tools out there. By asking follow-up questions, you can uncover hordes of insights that will help you understand what goes into the minds of your customers. In addition, ProProfs supports campaign management, allowing you to share them over numerous channels. Finally, its visually-rich dashboard helps you understand the data with the help of graphs and charts on a daily, weekly, or monthly basis.
It has more than 100+ pre-designed free survey templates to ask the right questions. In addition, ProProfs has more than 1 million ready-to-use survey questions. It also allows for several survey-type questions such as rating scale, multiple-choice, checkbox, and more. You can even brand your surveys by adding themes, logos, and images.
With ProProfs, you can create NPS surveys easily and schedule them to distribute them, allowing you to gather feedback continuously.
Pricing:
Free : ProProfs' free plan allows you to get ten responses, although you can ask an unlimited number of questions.
Essentials : You will be billed 5 cents for each response in this plan. If you choose the package that offers 1,000 responses per month, you will be billed $600 (annual billing).
Premium : Here, each response is billed at 10 cents. It includes advanced branding, white labeling, administration, advanced reporting, APIs, and more.
3. Promoter.io
It calls itself a "proven, end-to-end solution that will guide you through each phase of a best-practice approach to the net promoter." They help you predict the actions of the customer. Their NPS solution allows real-time analysis of NPS results. It divides the users automatically into detractors, passives, and promoters. You can segment your audience with the help of certain demographic filters, and it will even provide insights on the most common keywords that each segment uses.
Using this NPS survey tool, you can reach customers through various channels such as email, SMS, and via embedded links. Send NPS surveys right after purchase or interaction that the customer has with the brand.
Promoter offers a highly customizable NPS solution to add your themes and logos. In addition, you can integrate the solution with multiple third-party apps to work seamlessly across various systems.
Pricing :
Free : Their free solution lets you take 250 surveys during the 14-day free trial.
The next set of offerings is priced at $100, $150, and $225, respectively, based on the features they offer.
4. Delighted
It is one of the most popular customer feedback collection and survey tools, letting you measure NPS. Its easy-to-use survey creation wizard makes NPS survey creation pretty simple. In addition, delighted lets you run surveys with its autopilot feature where you end up measuring NPS over time- it's excellent for benchmarking your score to see the progress.
Delighted has a unique NPS dashboard where you can find all the details, comments, reports, and so on from customers. Its sentimental analysis and trending features help you identify the challenges that plague your customers. Its simple one-click integration makes it easy to work with third-party tools. Delighted lets you integrate with more than 45 applications.
Delighted allows you to follow up the rating question with an open-ended one to gather more feedback. You can even add ten additional questions to get more insights.
Pricing :
It has a 7-day free trial where businesses can access all the features.
Premium : Billed at $224/month, it has a survey limit of 10,000. You can use all the delivery platforms such as email, web link, SDK, and three kiosks. This feature allows you 7 Pre-built feedback reports, lets you set 10 alerts, and configure 20 trends filters to segment the feedback.
Premium Priced : Priced at $449/month, it has a monthly survey limit of 20,000. It offers the same features as the Premium plan and more.
5. InMoment
They call themselves an NPS software that increases the customer lifetime value for its clients. Wootric can be used to take care of the customer experience. It uses machine learning algorithms to deal with massive amounts of feedback and analyze them at scale.
With InMoment, you can run customizable NPS, CSAT, and CES surveys through several channels such as web, mobile, email, Intercom Messenger, in-app, and SMS. It delivers instant updates every time there is a response. InMoment helps monitor the customer experience throughout the buyer's journey, and it can track trends and take individualized actions so that customer churn can be reduced.
The survey tool also tracks and analyzes customer sentiment through reviews and social media. InMoment's excellent dashboard lets you view your NPS scores and response counts over some time. You will periodically receive reports about customer sentiments towards your product or service and the company through several sources. For example, you can see how your NPS score varies by product version, account, and user property.
InMoment lets you create unlimited custom tags. With each response that comes in, you can use tagging to surface issues, identify the accounts that need a follow-up, or prioritize areas in the product which require immediate improvements.
Pricing :
You can get a 3-day free trial of their voice of customer solution product called CoreCX. But, first, you need to set up a demo with the InMoment team for more details on their pricing.
6. Survicate
It is a popular customer feedback tool that has multi-channel NPS software. Creating NPS surveys with Survicate is pretty simple, and you can send it via website, application, link, and email. In addition, the survey builder that Survicate offers is highly flexible and lets businesses use conditional logic to get customer feedback.
The promoters, passives, and detractors are identified in real-time. One of the best things about using Survicate is that it stands out from the other NPS survey software since it lets you analyze each response based on your existing customer data. Analyze the entire customer lifecycle journey at an individual level. Survicate allows you to generate reports quickly, and it is also shareable across your organization.
Survicate gives you more than 15 question types that you can choose for the survey.
Pricing :
Free : Its free plan offers 25 survey responses monthly.
Essential : Priced at $65 a month, it has everything a company needs to manage its customer feedback. It allows 250 survey responses monthly.
Professional : It is priced at $129/month, and it is a complete customer experience platform for businesses. This package allows for 1,000 survey responses each month.
Ultimate : For businesses that have many users, this is the perfect plan, and it is priced at $289/month. They allow for 5,000 survey responses each month.
You can also ask for a custom plan for your enterprise needs if you want additional support services, extra functionalities, and add-ons.
Conclusion:
For businesses that are toying with the idea of NPS surveys and are not sure which NPS survey tool to use, the above six are good ones to bet on. Choosing the right NPS survey tool is as important as selecting the right questions and touchpoints to send the NPS survey questions. Remember that conducting an NPS survey alone will not work wonders for your brand. Your objective should be to convert detractors into promoters.
If you are looking for an NPS solution to understand how satisfied your customers are and the chances of them staying loyal to your brand, try out Qwary today.
