Net Promoter Score Benchmarks: How Do You Compare?
Net Promoter Score Benchmarks. Is it just about "what is a good Net Promoter Score? Not exactly... the most effective way to expand the value of your NPS program is by establishing a winning process, which then unlocks those optimal metrics.
"What is a Good NPS Score?"
The Net Promoter Score framework arrived in 2003, and since then organizations have been trying to answer that question. Traditionally, NPS was viewed as a boardroom-only metric – feedback gets collected and considered once a year amongst a small group, and not readily actioned.
More recently, organizations have learned to harness customer insights to grow revenue and retain more customers. This new knowledge enables innovation at a far greater scale because a company’s Net Promoter Score now moves far beyond the boardroom. It’s an increasingly universal metric, so your sales team benefits from tracking it as much as the customer service desk and the C-suite executives.
What Is Today’s Benchmark for Net Promoter Scores?
We wanted to know. As an NPS software company, we see NPS as a catalyst for growth every day. So it made sense to show how brands across industries, use cases, and job roles view NPS.
Also, we wanted to come up with a great way to answer those NPS benchmarking questions we get from our customers every day.
So we teamed up with a research agency to conduct our first annual AskNicely Net Promoter Score Benchmark Study.
The Importance of Net Promoter Score Benchmarks
We had some big questions about NPS. Since no one else was answering them, we built this inquiry into our Benchmark report:
- Has NPS reached the tipping point in adoption?
- What are the components of a modern, successful NPS program?
- How do the NPS scores correlate to growth and churn?
- A good NPS process requires buy-in from which departments?
- How are they taking action on feedback to get results?
Who Is Using NPS?
Surprisingly 54% of growth-oriented companies still don’t use Net Promoter Score, despite being the industry standard metric for measuring customer happiness.
However, within companies that actually utilize NPS, numerous departments are benefitting – especially Marketing and Customer Success. Departments like Operations and Product Management are keeping up. Among companies that use NPS, 80% are discussing the score during team meetings.
Who Achieves The Highest Net Promoter Scores?
The simple answer is: companies that follow best practices for NPS are the companies that achieve the highest NPS scores. By using automated systems for gathering and acting upon customer feedback, forward-thinking organizations can establish a customer-focused culture. This inspires the entire company to take action.
The result? Accelerated growth and long-term advocacy. These companies hit higher benchmarks because they’re providing superior customer service. They’re able to provide that superior service because they’re actually listening to what their customers want. That’s what the Net Promoter Score is all about.
Proper Deployment Can Get You To The NPS Benchmark
Proactive data collection is essential, but contact fatigue for customers is a real concern too. We found that the most successful companies used real-time survey deployment, but also benefited from scheduled contact with customers.
There’s a risk to being sluggish with survey deployment and follow-up. Proactivity goes beyond mere response time. It also means seeking out the most effective platforms for delivering surveys to people.
Does It Pay To Meet NPS Benchmarks?
Certainly. We found that companies with an NPS score of 60 or greater who take action on feedback experienced a 100% growth in sales over the course of one year. Companies with NPS scores lower than 40 experience some serious churn.
Study The Benchmarks and Hit Higher NPS Today
Get this ground-breaking NPS Benchmarks Study today, and discover how your NPS program compares.