Introducing Next-Generation Net Promoter®
It's time to shake up the status quo and forge a new path in the Net Promoter Score® narrative. Welcome to Next-Generation Net Promoter®, the newest methodology from our latest white paper. See how this new model evolved over time to become the current industry-standard for Net Promoter Score and the NPS® industry.
A History of Net Promoter Score®
Back in 2003, Frederick Reichheld introduced the Net Promoter Score in his article “The One Number You Need to Grow” in Harvard Business Review, thousands of companies have taken the steps toward turning customer loyalty into a competitive advantage.
The Net Promoter question asks “How likely is it that you would recommend [company X] to a friend or colleague?”. The answer to the question was a number on a scale from 0 to 10, where 0 meant “not at all likely”, 5 meant neutral and 10 meant “extremely likely”. Customers with ratings of 9 and 10 had the highest rates of repurchase and referral and were called Promoters. The Passives—satisfied, but not as loyal—gave ratings of 7 and 8, and customers with ratings from 0 to 6 were labeled Detractors. The Net Promoter Score—defined as the percentage of promoters minus the percentage of detractors—correlated directly with revenue growth rates in most industries examined.
Over the years, numerous initiatives have been taken to expand on Reichheld’s original Net Promoter Score narrative. In 2008, the Net Promoter Operating Model (also referred to as “heritage NPS”) was introduced in “Answering the Ultimate Question”. Heritage NPS® helped mold the concept of “measuring” customer feedback and “acting” to close the loop with detractors.
Close to a decade later, it's now time to consider a new model that takes into account not just customer loyalty, but growth as well. It's time for Next-Generation Net Promoter.
The Ultimate Net Promoter White Paper
[caption id="attachment_20321" align="alignright" width="245"] Next-Generation Net Promoter® white paper[/caption]
Everything you ever needed to know about modern NPS best practices is now all in one place: Next-Generation Net Promoter—the ultimate Net Promoter white paper.
Based on the data from our 2016 Net Promoter benchmark survey, this white paper introduces the new Next-Generation Net Promoter methodology in four clear steps: Measure Act, Monetize and Grow.
This white paper is your field guide to Net Promoter Score and beyond, offering best practices in the areas of:
- Measuring customer feedback
- Analyzing customer data
- Acting quickly to close the loop
- Optimizing business processes based on Net Promoter Score data
- Monetizing Net Promoter to correlate revenue with your NPS program
- Measuring referrals, up-sells, cross-sells and retention
- Growing referrals, up-sells, cross-sells and revenue
Discover how to take your heritage NPS to the next level with Next-Generation Net Promoter.
Download the full Next-Generation Net Promoter white paper now!