BlueVolt’s Proven Growth Indicator
Net Promoter® is both a loyalty metric and a discipline for using customer feedback to fuel profitable growth in your business. Developed by Satmetrix, Bain & Company, and Fred Reichheld, the concept was first popularized through Reichheld's book The Ultimate Question and has since been embraced by leading companies worldwide as the standard for measuring and improving customer loyalty.
A simple and powerful way to measure customer loyalty (and one of the most effective ways to track buying behavior), a company’s Net Promoter score is achieved by measuring customer response to the question: “How likely is it that you would recommend our company to a friend or colleague?”.
Customers respond on a scale from 0-10. The percentage of those customers who would not recommend the company to a friend gets subtracted from the percentage of those who strongly would, which creates the brand’s Net Promoter Score (NPS) (To put it in perspective: BlueVolt’s score means the percent of its non-recommending customers is in the single digits). While a brand’s NPS score must be considered within its particular industry, NetPromoter.com explains that many brands average a score of 5-10% (Companies like Adobe and Yahoo, both reporting satisfactory Net Promoter scores, yielded 46% and 41%, respectively).
Because Net Promoter scores are based on measuring customer relationships and are not industry specific, they offer a tangible way to compare customer satisfaction surveys across fields: NetPromotor.com reports that companies with the most efficient growth engines boast NPS scores of 50 to 80%.