Back in 2015 and 2016, CustomerGauge launched the largest ever Net Promoter® survey in collaboration with their sister site, NPSBenchmarks.com. With more than 600+ responses from Fortune 500 to small businesses, we were amazed at the response. As a result of this feedback, we were able to produce two NPS Benchmark reports: part 1 and part 2. The results were fascinating.
Here’s just some of the highlights:
• 75% had targets on Net Promoter. However, 36% did not know their retention rate
• 90% were not clear on if they had improved their retention rate since starting their NPS program
• 94% had not been able to calculate how much one point of NPS is worth in extra revenue
While there were some companies that couldn’t prove the ROI of their own NPS® program, there were many others who were leading the charge. The figure below shows best practices for a successful NPS program that were identified by respondents in our survey.
On the flip side of this, we also saw that there were red flags within some NPS programs deemed a failure, as shown.
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The results of these reports showed that while the industry has come a long way, there were still gains to be had. In response to the tremendous support and comprehensive best practices we’ve received from businesses, this year myself and the rest of the CustomerGauge team are once again tapping into industries to discover advances in NPS and customer experience for 2017.
This time, we’ve been lucky enough to collaborate with MIT CISR, part of the world-renowned MIT Sloan School of Management. This survey will look at not only Net Promoter and customer experience practices within industries, but also dive into how technology has impacted operational efficiency and standard business processes and revenue.
At the end of the survey, results will be compiled into individual assessment reports that are customized to companies. These reports will help companies evaluate their NPS/CX program maturity vs. other competitors in their industry and provide focus to improve their NPS/CX program moving forward.
If you’re interested in participate in this year’s survey, take it here: http://bit.ly/2oIwfHM.