How NPS Score Is Calculated + Top 8 Best Tools You Can Use
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Having a good marketing strategy and using efficient marketing tools are two of the most important aspects of a business. With the help of marketing tools and market research metrics, you can grow your business far beyond what you ever imagined and increase your profits greatly. One such market research metric you can use is NPS. And now, you might be wondering how the NPS score is calculated.
Well, that's why we're here! More specifically, we are here to show you how you can calculate your NPS score. Also, we'll provide you with a list of the best tools you can use to calculate it. That way, you'll be able to choose which tool you like best and calculate your score easily.
However, before we show how the NPS score is calculated, let's go through a brief introduction to what it is!
What Is an NPS Score?
NPS stands for Net Promoter Score. It is a market research metric that shows how likely your customers are to recommend your company, product, or service to others. It is based on one survey question and is easy to conduct. Also, most customers don't mind taking the survey since it only has one question and it's fast to complete.
As you can see, it is quite a useful metric that can help you greatly. That is why we felt that you should know how the NPS score is calculated.
The score ranges from -100 to +100, with +100 being the best. Any score above 0 is great since it shows that more people would recommend you to their friends and family in comparison to those who won't. In other words, a score above 0 shows that a larger number of your customers would recommend you to other people. A score of 20 and above is good, while above 50 is fantastic.
So, now that you know what NPS is let's find out how the NPS score is calculated!
How NPS Score Is Calculated
Calculating your NPS score is fairly easy and doesn't take up too much time. Anyone can do it, even people with no prior experience or expertise.
To calculate your NPS score, you'll need to tally up all your responses and subtract the percentage of people who wouldn't promote your company (detractors) from the percentage of people who would (promoters). You can use the following formula:
NPS = (Number of promoters - Number of detractors) / Number of responses * 100
You can conduct your survey based on scores of 1-10. S0, promoters are all the people that gave you a 9 or 10, while detractors are all the people that gave you a six or lower. The people that give you scores of 7 or 8 are passives, and you don't include them in your calculations.
Now you know how the NPS score is calculated, and as you can see, it's pretty easy. However, it can be even easier if you use the right tools. Below, you will find a list of the top 8 best tools you can use to calculate your NPS score. But before you do, we will show you what a good NPS score is so that you know where you stand.
What Is a Good NPS Score?
In the first part of our "How NPS Score Is Calculated" article, we briefly covered what score is good according to the creators of the metric. However, it goes a little deeper than that.
Namely, a good NPS score depends on which NPS methodology you are using. There are two methodologies that focus on what a good NPS score is - the absolute and the relative method.
If you use the absolute method, you will be comparing your score to a non-formally agreed-upon standard of what a good NPS score is in all industries. Here, a score of over 50 is above average. A score of 0-30 is good and shows that people think that you need to improve more. Most companies get a score of between 31-50, which shows that your customers like what you offer and are somewhat loyal to you.
If you use the relative method, you will be comparing your NPS score to other companies within your industry. For example, if you're in tech, you'll be comparing your score to other companies in the tech sector. So, for this method, there are no general rules to follow. Everything depends on what your direct competitors score. You can usually find their scores online and compare them to users. If most of them have better scores, then you'll know that you need improvement. If you have better scores, then you'll know that you're doing a good job and that your customers like what you offer.
Top 8 Best Tools
Now that you know how the NPS score is calculated, you can browse our list of tools and choose the one you like best. These tools can help make the whole NPS score calculation process much easier and faster. Thus, with these tools, you'll be able to save time and still get the data you need.
UserGuiding is an onboarding tool you can use to create a survey and customize it as much as you want. You can set it up in no time and let your customers rate you on a scale of 1 to 10. Then, you can use UserGuiding's analytics tools to calculate your NPS score.
This tool also allows you to ask follow-up questions and set a time when your customers will receive the survey. Also, you can track how your NPS score changes over time.
ProProfs Survey Maker offers a free survey-making tool you can use to calculate your NPS score. It is simple to use and allows users to choose from more than 100 survey templates.
You can add your logo, pictures, company colors, and more to make the survey more personal and representative. Also, you can use ProProfs Survey Maker to segment each customer into promoter, passive, or detractor according to the scores they gave you.
Delighted has a specialized NPS survey via which you can create your survey and collect and analyze the feedback. You can deliver your survey across multiple platforms and make it in 30+ different languages.
In addition, you can schedule when your customers receive the survey, create a personalized thank you message, and calculate your score. But since you know how the NPS score is calculated, you can also do it by yourself.
Qualaroo is a platform that offers customer & user feedback software. With it, you can create a survey in four simple steps and calculate your NPS score. All you'll need to do to create your survey is define your objective, pick an NPS template, customize your survey, and share it with your customers.
With Qualaroo, you can share your survey via your website, a link, mobile apps, and more. You can also compare your NPS score with companies from different countries or specific locations.
AskNicely is a customer experience platform that helps businesses improve their customer service and brand image. With it, you can easily create a survey and calculate your NPS score.
You can share your survey via email and multiple platforms and automatically send the survey to your customers after they have received a service or a product from you.
CustomerGauge is a company that offers a wide range of B2B solutions. It is great for those who work directly with businesses instead of individuals.
With it, you can create a survey and send it to your clients. Then, you can calculate your NPS score and see how much they like your company. Also, with CustomerGauge, you can automate your survey delivery and any follow-up questions that you have.
Hotjar is a platform that allows you to track all kinds of website analytics. You can use it to discover what your customers do on your website, which pages they visit most, and if they like what you offer.
Hotjar also allows you to create surveys and share them via your website or email. Also, with Hotjar, you can track NPS trends and see the scores of your competitors and other companies in a given time period.
Survicate offers survey software that allows you to get instant feedback from customers. With it, you can create an NPS survey and calculate your NPS score, view all the responses, and customize your surveys. More specifically, you can add your logo and colors and use code to make your surveys completely on-brand.
Further, Survicate allows you to monitor NPS on your apps, run NPS surveys on your website monthly, quarterly, and yearly, and export survey data into .xls and .csv files. Also, you can filter the responses your customers gave on your NPS surveys by score or date.
Last Words on How NPS Score Is Calculated
By making a survey and calculating your NPS score, you can determine how satisfied your customers are with your services and products. Your NPS score will show you how likely your customers are to recommend you to other people, which also shows how satisfied they are with your company themselves.
With the help of your NPS score, you'll know if you need to improve your services and products. By improving them, you will increase your NPS score. Also, you'll get more customers to recommend your products and services.
And if you get more customers to recommend you to their friends, family, and colleagues, you'll also grow your business and increase your profits significantly. So, as you can see, NPS is a pretty useful metric. It can help you in more ways than one and is easy to calculate.
The tools we mentioned in this article can help you create your surveys and calculate your NPS score. You can also calculate your NPS manually if you want to. Then, you can compare it with other companies' scores or by the industry standard and determine if your products and services need improvement or if your customers already like them the way they are!