Remove Feedback Remove Industry Remove Management Remove Net Promoter Score
article thumbnail

5 Ways to Leverage Net Promoter Score to Boost Customer Retention

InMoment XI

One user engagement strategy you can use to boost your customer retention is to make use of the Net Promoter Score (NPS) system. What Is Net Promoter Score? From this, you can place your customers on a scale, where anyone who answered between 0-6 is a detractor, 7-8 is passive, and 9-10 are promoters.

article thumbnail

Is the Net Promoter Score Metric Outdated?

Retently

In a 2003 Harvard Business Review article , Fred Reichheld introduced Net Promoter Score® as a new measure of customer loyalty and satisfaction. That makes the Net Promoter Score, as of 2023, 20 years old — an eternity for a customer success metric in the fast-paced world of technology.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What is a good Net Promoter Score?

Lumoa

However, one must remember that you should not stare blindly at others’ NPS since there are other factors affecting the score itself. . In this article, we will share some good tips on how you should manage and utilize NPS benchmarks. Net Promoter Score in a nutshell. What is a good NPS? 20 means favorable.

article thumbnail

What Do Companies With Low Net Promoter Score Have in Common?

Retently

Since not all NPS® data is public, and most brands aren’t eager to publish their low Net Promoter Score, we’ve taken several steps to find reliable customer satisfaction data that we can use to compare brands: Whenever possible, we’ve sourced data from various NPS benchmarks to gain a picture of the general NPS range within an industry.

article thumbnail

Unlocking Customer Loyalty in the Insurance Industry: NPS Insights

InMoment XI

NPSx by Bain & Company and InMoment recently released the State of CX: UK Consumer Trends Report , an in-depth analysis of customer perceptions on brand experiences across multiple industries. In this blog, we will delve specifically into the UK insurance industry. What’s the Score for Insurance Brands?

Insurance 260
article thumbnail

How to Set Industry NPS Benchmarks and Why It Matters

Lumoa

Net Promoter Scores are always an interesting topic of conversation, and industry NPS benchmarks even more so. A Net Promoter Score (NPS) is a metric used to measure customer loyalty and satisfaction. An NPS is calculated by subtracting the percentage of detractors from the percentage of promoters.

NPS 208
article thumbnail

Surveys Are Boring, It’s What You Do with Them That’s Exciting: Three Ideas for Beating Survey Fatigue

InMoment XI

In the world of customer experience , surveys have been a reliable feedback-collecting source for decades. By implementing these techniques, you’ll not only provide outstanding customer experiences but also emphasize that their feedback is not just heard, but genuinely valued. #1. Make Surveys Shorter. A LOT Shorter.

Survey 580