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NPS has been one of the most effective indicators of customer loyalty and business growth for decades. That's why companies (large and small) and investors focus heavily on measuring this metric when evaluating products and companies.
In this video, you'll learn how to calculate Net Promoter Score using data from a customer survey. We'll also look at some NPS benchmarks and discuss the normal range for typical companies.
It's very straightforward and can easily be done in Excel. I've also included a free downloadable template.
So what does the NPS really tell us?
The Net Promoter Score shows us whether the majority of our customers have good experiences (/“Promoters/”) or bad experiences (/“Critics/”).
To conduct a NPV survey, you need to ask customers the following question: On a scale of 1 to 10 (with 10 being the highest), how likely are you to recommend our product/service to a friend or colleague?
Based on this data, calculating the Net Promoter Score is very easy; you just need to set up a simple equation:
NPS % of supporters – % of critics
PROMOTER (grade 9-10)
Customers who have a great experience (promoters) help us grow. They are less price sensitive, have high retention (very loyal), perceive our product as valuable and recommend our product to other people.
PASSIVE (score 7-8)
Customers who had a good but not great experience (Passives) are unlikely to recommend us to friends, but they also won't hurt our brand. These people are neither really helpful nor harmful to growth.
Critics (Score 1-6)
Customers who have bad experiences (critics) write us bad reviews publicly, do not stay loyal to us for long (are very likely to switch/cancel), are very price-sensitive and damage our brand.
This data gives you a good idea of the overall customer experience with your product/service.
I hope you are now familiar with calculating Net Promoter Score in Excel. If you have any questions (I'm sure you do), please leave a comment below and I'll try to help you. Cheers!
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