What Is Net Promoter Score?
Net Promoter Score®, or NPS®, is an important benchmark companies use to evaluate and improve on their customer experience and loyalty. It is different than a customer satisfaction score in that it measures the overall perception clients have rather than single transactions.
Accounting Industry NPS in 2019
According to professional survey firm, ClearlyRated, in 2019 accounting clients reported an overall benchmark NPS of 24% (their survey sample focused on accounting clients in the U.S. and Canada).
With this industry benchmark of 24, Bland is very proud that according to surveys conducted with our clients, our NPS is 84.
How is NPS calculated?
- 1. Survey our clients, asking them “On a scale of 0 to 10, how likely are you to recommend to a colleague or friend?”
- 2. Categorize responses according to their score: Scores 0-6 are Detractors, scores 7-8 are Passives, and scores 9-10 are Promoters.
- 3. Disregarding the Passives, subtract the percentage of Detractor responses from the percentage of Promoter responses to determine your Net Promoter Score. This score can range from -100 to 100.
What do the NPS categories mean?
Promoters: Customers who answer the question with 9-10 – enthusiastic, loyal customers who will tell their friends about your business and bring in new customers.
Passives: Customers who answer the question with 7-8 – indifferent and could become promoters — or they could switch to your competition.
Detractors: Customers who answer the question with 0-6 – unhappy customers, and not only are you at risk of losing them, they could do damage to your brand by sharing their bad experiences with other people.
Why is NPS important?
First, it measures client loyalty, an important component in establishing a long-term partner. Second, it helps us identify ways we can improve our client experience.
While we are humbled by this excellent metric, we are always striving to improve our client offering and client experience. 84 is our new number to beat…and we truly appreciate the Omaha community for it’s amazing support.
Net Promoter, Net Promoter System, Net Promoter Score, NPS and the NPS-related emoticons are registered trademarks of Bain & Company, Inc., Fred Reichheld and Satmetrix Systems, Inc.