What is net promoter score?
Net promoter score or NPS, is a tool used by organisations like Macquarie Technology Group to understand the loyalty of the customer. It’s different to the typical customer satisfaction research which in old-school terms was quite long and tedious for both the customer to fill out and the company to action.
Revenue growth has also been linked to net promoter score.
The scoring system for net promoter score was originally developed by Fred Reichheld and his approach was a way to track how customers would represent a company to their friends, families and associates.
Net promoter score - our customers say we have the best service in Australia.We know this because they’re more likely to recommend us. Here is the proof of our net promoter score… Learn more
How is net promoter score calculated?
In short, the net promoter score hinges on two simple questions. The first is, “on a zero to ten scale how likely is it that you would recommend our product, service or brand to a friend or colleague?”.
The following question “what is the primary reason for your score?” lets the respondent tell the reason for their rating in their own words. These qualitative insights are then assigned against one of three categories of customers, known as; promoters, passives or detractors.
The NPS is then calculated by using the percentage of promoters minus the percentage of detractors which equals a NPS result that represents a standardized measure that can be used against other organisations also using this management system.
Bring on the promoters.
Promoters help you make more business. That’s why it’s so important to make the customer experience a rewarding one.
Macquarie Technology Group strive to create the best experience possible as it’s easier to get it right first time. And more difficult to turn passives or detractors around. We take every opportunity seriously. Serious enough to put a smile on your face.
How does net promoter score relate to customer experience?
Customer experience is ‘what a customer sees or does while using your service or product and how they find that experience’. Or another way of looking at it is ‘the interaction between an organisation and a customer over the course of the relationship’.
Macquarie Technology Group sees customer service as an intrinsic part of how we do business. So much so that we’ve linked all our internal business processes to a system that evaluates how well we do customer service.
This measurement known as net promoter score (or NPS) is conducted daily within our Sydney customer service teams. This information is readily available and broadcasted to numerous television screens located throughout the offices.
There are NPS screens sitting in each of the various teams across the business. It keeps everyone up-to-date on the net promoter score and how we’re doing at improving customer experience.
Like you’d expect, some days are better than others so we track the net promoter score over each week, month, quarter, half-year and annually. We want to achieve transparency, so we update our websites regularly with the latest net promoter results. The net promoter score is on our websites for the everyone to see where we’re at.
The score information is updated regularly, both good and bad. We believe this step is critical, as the transparency of how well we’re doing at customer service is clear and available for all to see.
If our customer experience isn’t up to snuff our net promoter score will reflect this. Thankfully though Macquarie Technology Group (and its businesses; Macquarie Telecom, Macquarie Cloud Services and Macquarie Government) have steadily improved their net promoter score since we started using NPS (a few years ago).
When it comes to improving customer experience, using tools like the net promoter score means Macquarie Technology Group can monitor, evaluate and ultimately improve its customer service and customer experience.