Written by Sofie Bengtsson, Consultant, Quicksearch
We imagine that you have just completed a survey or have an ongoing survey running. You have asked the ultimate question to your customers: Would you recommend us to your friends and acquaintances? Now you have your company's NPS® value and can start your analyses. But… How do you know what is a good value?
If we obtain an NPS® value that is higher than 0, we know that we have more ambassadors than critics, which is obviously positive. For a value below 0, the reverse applies. The companies we meet often do not think it is enough to know whether it is a positive or negative value, but would like information about how their NPS® value compares to industry colleagues.
It can be difficult to find other companies' NPS® values as many keep these secret, but should you find them, you should be a little careful when comparing. When making a comparison, it is relevant to know that we are comparing the right things and the right parts of the organization. Firstly, it is relevant to know which part of the customer experience (what we call touchpoints) that your competitor measures to obtain its NPS® value. One can measure a purchase experience and another complaint or delivery. Different measurements give different results.
The NPS® value is also very different in different industries and in different parts of the world. In some cultures, you are more generous with giving a high rating, while others are more restrictive, which is also important to consider if you compare in a larger international perspective. As always in a comparison, there are many parameters that influence.
It is of course interesting to get a comparison with the competitors, but when we talk about benchmarks, we are always a little careful with what we compare to. What we consider most interesting is to compare your own company's NPS® value over time. What does the trend and development look like for your particular company?
Questions you can ask yourself are:
- What does the trend mean for us? What significance will it have?
- How certain or uncertain is the trend? Are there the same number of respondents who answered as in the previous period that we are comparing with, does the survey look the same otherwise etc.?
- What are the driving forces of the trends?
- Are there any countertrends?
- What possible consequences could the change have for us?
Bottom line, measure your NPS® value by benchmarking yourself against the industry, but put a lot of emphasis on trend analysis and how your own value is changing.
We at Quicksearch build long-term relationships with our customers where we ensure a comparable result over time. Our sister company Nordic Bench also offers industry reports within, among other things, telecom and car workshops.
Want to know more about how we can help you with your feedback journey? Contact Us!
