What is the Net Promoter Score
The Net Promoter Score (NPS) has become so popular that it doesn’t really need to be explained any more. The question “Would you recommend our company to friends and acquaintances?” is basically asked after almost every online purchase or online contract. In addition, the NPS is part of every customer survey. The NPS measures the willingness of your customers to recommend you on a scale of 1-10. If your customers score 10 or 9 points, they are extremely satisfied with the company and its products and will tell others about it. Those who score 7 or 8 points on the NPS question tend to be neutral towards your company and products. Anything below 7 points is dangerous. Because these customers are deeply dissatisfied and tell others so! And worst of all: these customers usually leave! You see, the Net Promoter Score is a valuable indicator of customer satisfaction. And that’s why you should always keep an eye on your NPS value.
What are NPS Key Driver Analyses?
The NPS is used to measure customer loyalty and is also an important indicator of customer satisfaction, which can be derived from the NPS value. The greater the customer loyalty, the greater the customer satisfaction. Customer satisfaction and the ability to meet or even exceed customer expectations are the most important and strongest NPS drivers (NPS Key Drivers) that make your Net Promoter Score soar. So in a driver analysis, also known as key driver analysis, importance analysis and relative importance analysis, the relationship between each variable from a set of variables (independent variables) and a higher-level measure such as customer satisfaction is determined. But how do you determine these NPS key drivers? Driver analyses gather important insights into which determinants have the greatest influence on your Net Promoter Score. When you know which aspects most influence your customers’ overall satisfaction and loyalty, you know where your company should focus its energy.
NPS driver analyses with QuestionPro CX
QuestionPro CX offers an NPS Key Driver Analysis feature that helps you identify which interactions with your customers have the greatest impact on your overall NPS. The NPS Key Driver Analysis therefore helps you to identify which touchpoints you need to improve and which touchpoints are working particularly well. Since you ask your customers the NPS question at different touchpoints in the context of touchpoint analyses, the overall NPS value includes results from different sources. For example, you ask the NPS question after an order process, after a support call or complaint, during a live chat or after a contract renewal.
QuestionPro Customer Experience Platform includes the NPS Key Driver Analysis widget for NPS driver analysis. The widget uses Spearman’s Rank-Order method to calculate the relationship between the determinant variables of your NPS score. This allows you to see at a glance which determinants are real drivers, i.e. NPS Key Drivers, for your overall NPS score.
With the NPS Driver Analysis widget, you have a turnkey solution for creating driver analyses without having to configure codes or analyses yourself. QuestionPro’s NPS Driver Analysis works at the touch of a button, making it easy to use and interpret even for inexperienced users.