Having an optimal net promoter score (NPS) is great for gauging how your small business is going to grow in the coming months and years. Knowing your NPS score is also essential when it comes time to consider securing funding from banks and other investors to grow your business. After all, if the overall consensus is that your business is highly recommended by past and current customers, it’s definitely poised for growth on some level.
How NPS Works
This is likely going to be one of the easiest business principles you’ll ever learn. NPS is nothing more than the results of a very pointed question given to your customers: “On a scale of 0 – 10, how likely are you to recommend ‘ABC Inc’ to others?” The results give a pretty clear picture of how the business is treating its customers, and how well you’re meeting key metrics such as the business’ customer lifetime value (CLV).…Continue reading