In this video, you will be introduced to the concept of the Net Promoter Score.
#netpromoterscore #metrics #wallstreetmojo #customerloyalty #brandvalue
Chapters:
00:00 – Introduction
01:00 – What is the net promoter score?
01:48 – How does the net promoter score work?
02:58 – What is a good net promoter score?
03:43 – Conclusion
What is the net promoter score?
The Net Promoter Score, or NPS, is a metric that measures and quantifies customer loyalty. The metric was developed in 2003 by Fred Reichheld, a management consultant.
It helps assess the probability of customers endorsing products to people they know. The underlying theory is that if a person likes a product, they will share their experience with others, which in turn would encourage them to buy the product too.
How does the net promoter score work?
The NPS is usually calculated on a scale of 0 to 10, and based on the ratings that the customer gives, they are categorized into three types:
Promoters
Passives
Detractors
Based on this, the NPS is calculated simply by subtracting the percentage of promoters from the percentage of detractors.
(Explained in detail in the video)
What is a good net promoter score?
According to Reichheld, most companies in the US have an NPS of 10, while the best companies with the best products to offer have an NPS of 50 to 80.
It should be noted, though, that the NPS is just a benchmark and may not necessarily represent how much the customers are loyal to the company.
(Explained in detail in the video)
This will be all for this video. Subscribe to the channel, give the video a like, and share it with others.
==========================================================================
Subscribe to Our Channel –
Youtube ►
https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1
LinkedIn ► https://www.linkedin.com/company/wallstreetmojo/
Facebook ► https://www.facebook.com/wallstreetmojo
Instagram ► https://www.instagram.com/wallstreetmojoofficial/
Twitter ► https://twitter.com/wallstreetmojo