Optimizing your Net Promoter Score is one of the best ways to improve your customer satisfaction and loyalty. By definition, Net Promoter Score (NPS) is a metric “calculated based on responses to ‘How likely is it that you would recommend our company to a friend or colleague?’” (thanks, Wikipedia!). Most scales will range from 1 to 10 with 1 being extremely unlikely to recommend and 10 being extremely likely to recommend. More specifically, we like to look at NPS as a crucial tool to understanding the relationship strength between you and your customers. While the metric seems simple on the surface, it gives valuable insights into areas of future growth and improvement. We'll show you how to calculate this metric, how to understand it in the context of your industry, and how to apply it to the platforms you're using now.
You can calculate your NPS by subtracting the percent of detractors from the percent of promoters. NPS can be assessed for various time-periods (i.e. day, week, month, year) and, if your NPS is tied to certain products or business units, you can assign a specific NPS for each.
If you’re confused about how to define your percent of detractors and percent of promoters, we’ve included some nifty explanations below:
When choosing what to include in your calculations, remember: consistency is key! That means, if, for whatever reason, you define promoters as those who responded 8-10 for the month’s NPS, you should include it in the next month’s NPS as well. Having consistent metrics will allow you to better identify the causes of good or bad performance. For instance, if, over the past few months, you’ve increased your customer service training and NPS also increases, then you’ll know that training improved the customer experience.
It can be difficult to calculate this metric in Google Analytics, but we have a quick and easy solution, Lido.app. Read below to learn more and get started today.
Lido allows you to connect, analyze, and visualize all of your data in a single spreadsheet. Don't wait for engineers to build analysis dashboards! Lido provides a simple and easy solution to importing data from numerous platforms. Automatically import data from your favorite platforms such as Shopify, Facebook, Google Analytics, and many more and apply Lido's software to extract meaningful metrics from them. After applying Lido software to your data, you will be left with sleek, attractive dashboards to share with your stakeholders, rather than confusing and jumbled raw data. Furthermore, the dashboards are easily editable to focus on specific data or metrics.
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