Why the Net Promoter Score (NPS) is the top KPI

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What is the Net Promoter Score (NPS) and why is it so important? 

As performance consultants, Qeep are experts at how to measure the performance of organizations and people through the use of Key Performance Indicators – KPI. Working with a big range of clients like Maersk Tankers, Estée Lauder and Alcon, one particular KPI has proved more and more relevant, when determining the sustainable performance of companies – the loyalty of the company’s customer.

But how do you measure customer loyalty? Since late 2003 the Net Promoter Score (NPS) has grown to become the universally accepted standard for measuring just that. NPS is now applied and integrated into the daily operating model of nearly every industry sector, ranging from companies such as Lego and Apple, over to General Electrics. Time and again, NPS has proven to be the top KPI used as a strong predictor of future growth and business success. Furthermore, NPS is not only applied to B2C where it started, but has grown to encompass the B2B scene as well. 

But just what makes NPS so special and effective?

The NPS Survey asks customers to answer one single question, which is how willing are you to recommend the use of a given product, service or business partner? As such, the ability to measure current customers’ willingness to recommend your product or company gives you invaluable insights into what you can expect in the future for your company. In that sense, having a continuous NPS measurement and follow up process in place, is just as important an indicator of your company’s health, as an annual report is. 

So how do you get started using NPS?

At Qeep we help you:

·   Define your customer loyalty target 

·   Create your customer loyalty index

·   Collect your customer loyalty data

·   Design your customer feedback development loop

·   Implement your customer improvement tracking system

To track your NPS we help implement an easy digital solution that can be used on all devices.

 

 

The NPS measure allows you to react quickly to unhappy customers and to get valuable feedback from those that are very loyal to you. This process is the “infinity loop” of NPS:

When you work with Qeep on establishing feedback and a tracking system, you will learn to manage Relational feedback and Structural feedback. The left side of the infinity feedback loop provides you with a process for managing the Loyalty Emergencies that occur when a customer provides a low score and a negative feedback. The right hand side of the loop provides a process for long term business, product and process development based on customer feedback.

In the middle of the loop, you find the “huddle.” When Qeep helps you set up your NPS feedback loop, we facilitate the establishment of huddle forums, at which managers and peoples regularly evaluate customer feedback and determine changes and improvement to be made. These decisions kick off the structural side of the process.

All in all, with Qeep you gain a complete system to target, track, develop and execute on Customer Loyalty because we believe that: 

A company is no stronger than the loyalty of its customers!

Qeep A/S – Qeep Copenhagen
Axeltorv 6, 1th
1609 København V
Denmark

Phone: +45 24 88 11 20
Email: info@qeep.as

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Qeep’s consultants give companies the confidence to raise the bar for what is possible to achieve. We challenge leaders to discard their old mindset, to think in new ways and to set goals more ambitious than ever before. We combine our years of leadership and consulting experience with the newest technologies in order to engage everyone in your organisation and get you where you want to go!