What is a good reflection coefficient values
What is a good NPS value?
You are already familiar with the Net Promoter Score (NPS) and use it regularly to measure the satisfaction and willingness of your customers to recommend your company to others. You may even have set internal goals and a benchmark for improving your company's NPS. This also means that at one point you must have asked yourself: “What is a goodsNPS value? "
The answer: aim for an NPS value above +50. Please note, however, that a lot depends on the industry in which your company is at home. However, if the value is negative, your alarm bells should ring.
A refresher on the Net Promoter Score
First of all, a little repetition of how the NPS works, before we come back to the different benchmarks for the various industries. The basic principle is actually simple.
A company sends out a survey based on the NPS question: "On a scale of 0-10, how likely would you recommend us to a friend or colleague?"
The respondents are then divided into three categories: promoters (values 9-10), passives (values 7-8) and detractors (values 0 to 6). To calculate the NPS value, subtract the percentage of Dectractors from the percentage of Promoters. Passives are not taken into account in this calculation.
Your final NPS value is a number between -100 (every customer is a director) and +100 (every customer is a promoter).
The role of the detractors
Promoters find the product or service to be excellent value for money. They are much more likely to recommend your company via word of mouth (without burdening your marketing budget) and be a reliable source of repeat profit. The NPS is also a reliable metric for calculating growth potential.
A detractor, on the other hand, is a likely churn candidate and can provide potentially harmful feedback (e.g., through negative Google reviews).
Research has shown that the voices of the detractors are more penetrating than those of the promoters. And when we take into account that 84% of all online customer reviews are trusted, detractors can seriously damage your company's chances of survival.
You cannot satisfy every customer, nor can you turn every detractor into a promoter. Dissatisfied customers will always exist, no matter how excellent your brand's reputation or the quality of your customer service are.
However, a low or even negative NPS value is not always bad. He can help you identify growth opportunities for your product, customer service or other areas of your company.
What is a good NPS value for your industry?
Statistically, you should aim for a positive NPS, i.e. more promoters than detractors. The higher above 0, the more customer-focused your company. A value above 30 is remarkable. 50 is excellent and over 70 is exceptional. Perfect values just don't exist.
While the NPS method can be used equally across many industries, it is important to compare yourself to similar companies. Don't compare insurance to hotels, or college to banks.
The household and personal care industries (such as diapers, make-up, cosmetics, etc.), for example, have above-average NPS values. The same goes for companies that offer unique products such as Tesla, Uber, etc.
Industries that are known to deal with complaints from customers, such as airlines or property management companies, often have lower NPS values.
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