How We Earned the Title of World-Class Service
Net Promoter Scores are probably the most important customer satisfaction metric you’ve never heard of.
What is Net Promoter Score (NPS)? First developed in 2003 by a management consultant, NPS is a management tool that can be used to gauge the loyalty of a firm's customer relationships. It serves as an alternative to traditional customer satisfaction research and has been widely adopted with more than two-thirds of Fortune 1000 companies using the metric.
Believe it or not, NPS is derived from asking customers one single question: “On a scale from 0-10, how likely are you to recommend this company to a friend or colleague?”
The primary objective of the Net Promoter Score methodology is to predict customer loyalty (as evidenced by repurchase and referral) to a product, service, brand, or company.
To calculate a Net Promoter Score, subtract the percentage of Detractors from the percentage of Promoters. Passives are not counted. It’s that simple. So, if 50% of respondents were Promoters and 10% were Detractors, your Net Promoter is a score of 40%.
Source: Temkin Group
This score ranges from -100 to +100 and is based on customers' likelihood to recommend the company's product or service. Any score above 0 is considered good and scores above 70% are considered “world-class”. For comparison, Apple and Amazon, two companies known for outstanding customer service, both achieved NPS scores in the low 60s range.
This year at MATRIX, we were honored to receive a whopping Net Promoter Score (NPS) of 82.3% from clients, more than quadruple the staffing industry’s average NPS of -2% in 2019. Our talent score from Consultants was also excellent, at 68.9%.
At MATRIX, we have worked hard to achieve this “world-class service” ranking. Specifically, for clients we have focused resources and time on improving these key NPS drivers:
Submitting qualified candidates within the expected timeframe
Submitting candidates who are good culture fits
Setting realistic expectations with our clients
For consultants, we have worked on these priorities:
Resolving issues in a timely manner
Communicating well during the placement
Accurately describing the position up front
Treating consultants well while on assignment
Though it is hard work, the NPS can be used to motivate an organization to become more focused on improving products and services for consumers. That seems like a noble goal for any organization. Check out our profile on ClearlyRated for more insight and testimonials from our clients and consultants.