NPS (Net Promoter Score) Analysis
NPS (Net Promoter Score) is a management tool that can be used to gauge the loyalty of a firm's customer relationships. It serves as an alternative to traditional customer satisfaction research and is claimed to be correlated with revenue growth. NPS has been widely adopted with more than 2/3 of Fortune 1000 companies using the metric. The tool aims to measure the loyalty that exists between a provider and a consumer. The provider can be a company, employer or any other entity. The provider is the entity that is asking the questions on the NPS survey. The consumer is the customer, employee, or respondent to an NPS survey. An NPS can be as low as −100 (every respondent is a "detractor") or as high as +100 (every respondent is a "promoter"). NPS scores vary across different industries, but a positive NPS (i.e., one that is higher than zero) is generally deemed good, a NPS of +50 is generally deemed excellent, and anything over +70 is exceptional.
"NPS measures customer experience and predicts business growth"
The metric was developed by (and is a registered trademark of) Fred Reichheld, Bain & Company and Satmetrix. It was introduced by Reichheld in his 2003 Harvard Business Review article "One Number You Need to Grow", it is also being mentioned in the best-selling business strategy book "Ultimate Question: Driving Good Profits and True Growth" and "The Ultimate Question 2.0: How Net Promoter Companies Thrive in a Customer-Driven World"
Fred Reichheld is a best-selling author, speaker and business strategist in the New York Times.
The Net Promoter Score is calculated based on responses to a single question: How likely is it that you would recommend our company/product/service to a friend or colleague? The scoring for this answer is most often based on a 0 to 10 scale.
Those who respond with a score of 9 to 10 are called Promoters and are considered likely to exhibit value-creating behaviors, such as buying more, remaining customers for longer, and making more positive referrals to other potential customers. Those who respond with a score of 0 to 6 are labeled Detractors, and they are believed to be less likely to exhibit the value-creating behaviors. Responses of 7 and 8 are labeled Passives, and their behavior falls between Promoters and Detractors. The Net Promoter Score is calculated by subtracting the percentage of customers who are Detractors from the percentage of customers who are Promoters. For purposes of calculating a Net Promoter Score, Passives count toward the total number of respondents, thus decreasing the percentage of detractors and promoters and pushing the net score toward 0.
Research data indicates that enterprises who have higher NPS usually have higher growth rate, NPS is a simple and effective index to reflect the customer loyalty and enterprise potential growth rate.
Uniqueness of our NPS Analysis:
1. More than just a NPS
NPS result can let you know that people appreciate your brand/company or not, but it could not show you the reason(s). You have to analyze the free text comments from users in order to understand the reason, that's what we do for you!
Based on the analysis results of the free text comments, we can show you extra valued insights, such as:
a. Auto Topic Categorization
- Our system can automatically classify the survey text comments to the relevant topic category, so you can always check your interested topic contents quickly and conveniently, rather than wasting time to look through all of them.
b. Multilingual Sentiment Analysis on Text Comments
- Our system can also analyze the survey comments in English, Traditional Chinese, Simplified Chinese, Cantonese Slang, and let you know they are positive or negative to you, and also show you those important sentiment keywords, so you will know why they have such feeling.
c. Valued Keywords Discovery
- Our system can automatically discover some valued wordings from those survey free text comments, they are possible of some important keywords or factors that you should concern, enhance them can usually improve the customer experience and cause much better business growth.
2. Minimize your Manpower
You just need to import your survey contents to our platform, our NPS analysis system will process with AI (Artificial Intelligence) and Machine-learning technology and then give you the analyzed result.
3. Speed up Processing Time
The high efficient processing system helps speed up the processing time, so you could enjoy the survey analysis results earlier.
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