In the last Payroll Report, I talked about how gathering ongoing client feedback can help you track and improve client satisfaction levels. So this month, I thought it would be useful to share a system we use to boil that customer feedback down to a single number. It’s called Net Promoter score, and we’ve found that it makes monitoring and measuring client sentiment much easier.
Using Net Promoter Score is simple; just ask your customers to rate you on a scale from one to ten. Then take each customer’s rating and categorize it as follows:
- Promoters(score 9-10) are loyal enthusiasts who will keep buying and refer others, fueling growth.
- Passives(score 7-8) are satisfied but unenthusiastic customers who are vulnerable to competitive offerings.
- Detractors(score 0-6) are unhappy customers who can damage your brand and impede growth through negative word-of-mouth.
Next, determine the percentage of customers who are promoters and the percentage who are detractors. Finally, subtract the percentage of detractors from the percentage of promoters. That’s it – you have your Net Promoter Score.
We’ve combined Net Promoter Score with the ongoing customer survey program I discussed in last month’s Payroll Report, and we’ve found the results to be very useful. It’s a great way to let everyone in the organization know how we’re doing on an ongoing basis. We use it as a morale builder and motivator, and it also gives us an easy way to see whether new initiatives are working as planned.
How do you measure customer satisfaction at your firm? Feel free to share in the comments space below.