Why is the NPS so popular?
Most companies use it today as Bain & Company the creator of NPS shows in this list. Although a few years ago, this was not the case, today a large majority of companies, measure customer satisfaction through the Net Promoter Score (NPS). Companies such as Liberty, Generali, Ikea, Bosh and many others, use the NPS as a key indicator of the health of their customer base. The most surprising thing is that its use has reached the boards of directors of a good number of large global companies. A similar status to that of the financial ratios that measure the economic performance of companies.
Vanguard CEO Tim Buckley sees his firm’s Net Promoter Score every time he looks at the management dashboard on his screen. As Michelle Peluso – SVP Digital Sales & Chief Marketing Officer at IBM says,
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The NPS appears as something simple, easy to understand and, on which a measurement system can be built with a real impact on the company. Beyond its statistical robustness, the NPS was introduced in 2003 by Reichheld, in his Harvard Business Review article3, as the best solution for the new economic context. Now we only need to ask a question, we can ask it at any time in the relationship with the customer and the answer can be produced from any channel the customer chooses – mobile, sms, phone call, tablet in store … and all this, in less than 60 seconds.
Before the NPS…
The customer measurement for most companies was the Satisfaction Index. To obtain it, a questionnaire of 15-20 questions was designed and the process of obtaining, analyzing and reporting lasted at least 2 months. Existing models such as ASCI4 or SERQUAL5 also presented difficulties in translating their results into actions. His focus was quality. Imagine, the new philosophy of the NPS was a revolution: a very short questionnaire related to a recommendation behavior, which – in many cases – affects the results of the company. Its focus is the actual experience.