Qualtrics’ Bain Certified NPS®
Ever wondered how your customers feel about you? Well now it’s easy to find out. Qualtrics has partnered with Bain & Company, one of the founders of Net Promoter® Score, to create a simple, free solution that allows organizations to collect accurate NPS measurements and valuable customer feedback.
This NPS survey follows Bain & Company’s best practices for collecting Net Promoter customer feedback and includes over ten years of Net Promoter implementation knowledge. This free tool is available to all organizations, even if you’re not a Qualtrics customer. So relax—this one is on us!
You have three options for creating your Bain Certified NPS survey:
- Download an NPS template. You’ll customize the survey to your company by following the instructions and notes in the survey template.
Download Relationship NPS template (Relationship NPS surveys measure your customers’ overall feelings about you)
Download Touchpoint NPS template (Touchpoint NPS surveys measure your customers’ feelings about a specific interaction or series of interactions)
Note: After downloading your NPS template, upload it to your Qualtrics account by following the instructions here (Create Survey > Quick Survey Builder > Advanced Options > Import Survey > Yes).
- Have an expert build your NPS study. Need some expert guidance building your NPS program? We can help. Click here to contact us.
- Follow a step-by-step guide that builds your survey as you provide details about your company and customers, and create messages your customers see when they take the survey. This simple-to-use NPS tool also allows users to see industry benchmarks as part of the free built-in reporting feature.Click the button below to start building your customized NPS survey. Once you’ve completed the NPS builder, you’ll have a Bain Certified NPS survey that’s ready to go. But don’t worry, you’ll still be able to make final changes to your survey before it is distributed—we’ve got you covered.
What is Net Promoter Score?
Net Promoter Score (NPS) is a loyalty metric developed by Fred Reichheld, Bain & Company and Satmetrix that measures the quality of relationship between a provider and a consumer. The provider can be a company, employer or any other entity. Specifically, the Net Promoter score tracks how customers represent a company to their friends, associates, or other colleagues. Bain research has established a strong link between organic growth and a company’s NPS relative to the competitors in its industry.
However, the Net Promoter Score is only the first piece of a larger Net Promoter System. Practitioners of the Net Promoter System ask customers the reasons for their ratings using an unstructured, open-ended question. This provides employees throughout the organization the opportunity to hear comments from customers every day—in their own words. These leaders build that feedback into their operating systems, using it both to address customer concerns and to fuel the innovations that generate more promoters. They use this closed loop to learn more about how they can improve their processes, people, products and pricing for the long term. Learn more
The Qualtrics’ Bain Certified NPS Survey Builder ensures that your customer feedback instrument provides accurate measurements, so that your customer loyalty efforts are built on a foundation that facilitates robust customer feedback.
How do you calculate NPS?
After testing many questions with thousands of companies in six industries, one question surfaced that worked best for most organizations: How likely is it that you would recommend Company X [or Product X] to a friend or colleague?
Research found that the way customers answered this question consistently predicted their behavior: customer retention, repeat purchases, referrals and other indicators of customer loyalty, and profit.
What’s more, the question was quick, respectful of customers’ time and easy for both customers and employees to understand. That’s why it has become known as “the Ultimate Question.”
Net Promoter Score is calculated by subtracting the percentage of respondents that are labeled “Detractors” from the percentage of respondents that are labeled “Promoters” as indicated in the image below. Answers to the ultimate question are scored on a simple zero-to-ten scale. This scale is easy for customers to understand. And the responses tend to cluster in three groups, each characterized by different attitudes, behaviors and, therefore, economic value.
Promoters are loyal, enthusiastic fans. They sing the company’s praises to friends and colleagues. They are far more likely than others to remain customers and to increase their purchases over time. Moreover, they account for more than 80 percent of referrals in most businesses. They are, in general, pleasant for employees to deal with.
We call this group “passively satisfied” because this group is satisfied—for now. Their repurchase and referral rates are as much as 50 percent lower than those of promoters. Their referrals are likely to be qualified and less enthusiastic. Most telling: if a competitor’s ad catches their eye, they may defect.
Detractors are unhappy customers. They account for more than 80 percent of negative word-of-mouth. They have high rates of churn and defection. Some may appear profitable from an accounting standpoint, but their criticisms and bad attitudes diminish a company’s reputation, discourage new customers and demotivate employees.
Your Customer Balance Sheet
Your Net Promoter score is simply the percentage of promoters minus the percentage of detractors.
It’s a number you can compile and track regularly, not only for a whole company but also for each business, product, store, or customer-service team. You can also track it for customer segments, geographic units or functional groups. It helps everyone focus on two things; creating more promoters and fewer detractors. It is, quite simply, your customer balance sheet.
Where Qualtrics Adds Value
Many businesses have implemented the Net Promoter Score as a solution to improve customer loyalty.
What businesses often overlook, however, is that this feedback is only useful if a company can act on the feedback as outlined by the Net Promoter System. That’s why the Qualtrics Research Suite enables organizations to easily act on the feedback they collect from NPS surveys. Qualtrics allows users to:
Trigger follow-up surveys to specific groups, with surveys tailored to their unique needs.
Close the Loop
Automatically alert line managers of the feedback, allowing them to take immediate action where necessary.
Track Results Over Time
Track individual and aggregate customer changes over time.
Collaborate with others across the organization for company—wide customer loyalty programs.
Collect NPS feedback via e-mail, posted link, survey embedded in a website or pop-up.
Automate surveys to go out to clients as soon as they are signed, annually, after an event, or after any other specified amount of time.
Powerful, Pre-Built Reports
Real-time reports in a custom dashboard that segment results by region, branch or any other criteria for instant analysis.
Create Panels for Ongoing Communication
Automatically sort customers into lists of “detractors,” “passives” and “promoters” that can be used for additional research and track progress over time.