One word… loyalty. But first, what is customer experience management (or CXM)? CXM is the practice of listening and responding to customer feedback to meet or exceed their expectations and, hence, increase their loyalty. And higher customer loyalty means higher retention, more cross-selling opportunities, and more referrals, all of which translate into more revenue for your business.
Net Promoter Score® (NPS) is the most widely used way to measure customer loyalty. That makes it a benchmarkable metric that you can use to compare yourself against your peers - or even internally against other products or geographies.
NPS asks customers how likely it is that they would recommend the company or product. Then it categorizes the responses into promoters (lovers), passives (indifferent), and detractors (haters).
NPS is the percentage of promoters minus the percentage of detractors. The higher the number, the healthier your company or product is.
SurveyMonkey CX takes the popular Net Promoter System to the next level. As the world's #1 survey platform, we've perfected the methodology to deliver richer insights for your business while offering a great customer experience.
Compelling visualizations and powerful analysis tools help uncover strengths and problem areas. Most importantly, we help you translate insights into action to close the loop with customers and increase revenue.
With SurveyMonkey CX, you can accurately measure customer loyalty and understand the drivers behind your NPS. That way you’ll know exactly what actions will move the needle. Plus, predict the impact your customer experience program will have on revenue so you can calculate ROI, invest intelligently, and accelerate growth.
Net Promoter, Net Promoter System, Net Promoter Score, NPS and the NPS-related emoticons are registered trademarks of Bain & Company, Inc., Fred Reichheld and Satmetrix Systems, Inc.