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In the business world, regardless of industry, one must learn many acronyms. It could be acronyms for other businesses or associations, methodologies or processes, or technologies. And some of those acronyms are only applicable or relevant to a particular company or industry. But some acronyms are relevant for all businesses, one of which is the NPS.
What is an NPS?
The NPS, or Net Promoter Score, was developed by Bain & Company to help companies earn customer loyalty and inspire employees. It is considered the gold standard for measuring customer experience and satisfaction. Net Promoter Scores are calculated by a single question, “how likely are you to recommend Company X to a friend or colleague,” with answers ranging from -100 to +100. Although NPS averages differ depending on the industry, global benchmark data suggests that the average score is +32. Bain & Company says that anything above 80 is “world-class.”
Choose a Partner with a High NPS, But Make Sure to First Do Your Homework
While it’s impressive to see companies touting incredibly high Net Promoter Scores, it’s important not to be too quick to take their NPS at face value.
When you’re looking for your next partner, be it for identity theft protection services, delivery/courier services, or something else, be sure to:
- Test the customer service experience for yourself. Anonymously sign up for their service as a real customer or ask for a trial. Call their customer service support line and get first-hand experience of the process to see if it aligns with the customer experience you’re looking to provide your customers.
- Ask the prospective partner if they use other metrics to determine customer satisfaction. Measuring on-call and wait times only provides one perspective of the experience, so be sure to dig deeper into their process for serving and supporting end customers.
- Don’t be afraid to ask how they arrived at their Net Promoter Score and for context. How frequently are they measuring their NPS? If the prospective partner is touting a high NPS, they should also have real customer testimonials to help provide context along with the other customer satisfaction metrics. Don’t miss the forest for the trees. How frequently a company measures its NPS and real customer feedback can provide valuable insight.
Partner with Iris Powered by Generali to Improve Your NPS and Provide Your Customers Award-Winning Customer Service
You won’t find customer service like ours in the identity and cyber protection space. Our Resolution Center has received 11 customer service awards in the past eight years, and our average NPS in 2022 was 85. In fact, we hit our highest NPS ever (91!) in the summer of 2022.
While most call centers are only measured on handle times, wait times, and other productivity metrics that give little insight into customers’ happiness, at Iris, every Resolution Center employee – from Resolution Specialists to floor managers to the VP – is measured on customer satisfaction. And while some companies are happy to get testimonials occasionally, we get hundreds a month, routinely blowing our customers away. Alternatively, we’re also extremely proud of our complaint-to-case ratio, which was 0.02% in 2022. For context, that means our Resolution Center team received just one complaint for every 4,500 support calls managed in 2022.
White-glove, do-it-for-you assistance and support will do that, especially when some of the most caring people in the world are providing it.
Interested in learning how you can improve your company’s Net Promoter Score to help you get repeat business and strengthen customer retention? Download our whitepaper, “How to Continuously Improve Your NPS: Even if Your Customers Call You in Distress,” today!