A common metric for measuring customer loyalty and predicting business performance is the net promoter score. Many businesses are intimately familiar with this metric and work hard to get a good score. One way to improve your NPS is through the use of incentives. Let’s start with how to measure your NPS. The NPS is very simple and is based on having customers answer one question “How likely is it that you would recommend Business/Product?service to one of your friends or colleagues?” Customers are then asked to score the question between 1 and 10.  After acquiring the data from your customers, you can group them into 3 different categories: To calculate your net promoter score, subtract the percentage of Detractors from the percentage of Promoters. To calculate your net promoter score, subtract the percentage of Detractors from the percentage of Promoters. For example, if you had 100 respondents and 25 were passive, 60 were promoters and 15 were detractors, your score would be 45. 60 – 15 = 45 Incentives can be helpful in both acquiring and raising your net promoter score. You can use incentives such as gift cards, prepaid visas, or digital rewards to encourage customers to give […]

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