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Net Promoter Fun Facts…How 7 Can Be a Neutral?!

September 8, 2011

What is a net promoter survey?
A net promoter survey is one measure of health for your business. It measures how likely your current customers are to refer new customers to you. This helps you to understand how satisfied your current customers are and to understand whether your business is poised for future growth.

How is it calculated?
Customers are asked the simple question “On a scale of zero to 10, how likely is it that you would recommend our company to your friends or colleagues?” What years of research have shown is that people will not recommend a service actively unless they are ecstatic about it.  People who are dissatisfied are much more likely to talk. So the net promoter survey doesn’t divide the 10 points equally to categorize responses.

Instead:
0-6 ratings are called detractors. These are people likely to grumble or express dissatisfaction about your business if asked.
7-8 ratings are called neutrals. These are people who may be satisfied with the service but they are very unlikely to refer business to you.
9-10 ratings are called promoters. These are people who are really excited about you and your business and are likely to tell others.
Promoters – Detractors = Net Promoter. Neutrals don’t figure in the equation, as they neither help nor hurt your business.

What is a typical score?
Most companies sputter along with a net promoter score of 5-10%. There are big differences by industry and by product. Scores above 50% are usually considered best in class or world class scores. Bill.com is very proud to earn scores well north of “world class” — we know we have not only the best customers in the world, but the nicest ones too!

Where can I learn more?
Knowing what your net promoter score is only starts the journey toward excellence. You then have to respond to what your customers have identified as reasons they don’t recommend your business. There are numerous websites that offer advice, but I find this book is an excellent resource for Bill.com and our processes

Are you a Bill.com fan?
If so, let us know @Billcom, at Facebook or on LinkedIn,  and of course, we would love for you to share with your friends!

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5 Comments
  1. I give you guys a freakin’ 10!!

  2. Here’s a quote you can use:
    “Thanks to Bill.com, our company does not own a filing cabinet.”
    Barry Yarkoni
    CEO
    Vinomis Laboratories

  3. Susan Skomal permalink

    Our organization is a not-for-profit with a small staff and large reach. Bill.com has helped tremendously with payments that used to take a long time, particularly with the process of having both the treasurer and executive director approve checks over a certain amount. I am also very pleased to offer electronic payments to our vendors and community members–a service that eliminates the frequent need to replace paper checks and consequent follow-up time to track and recut.
    Because we are an international organization, however, it would be an even greater service if it were possible to send checks in foreign currency and to send electronic payments to foreign banks in dollars. Surprisingly, neither of these options is currently available. As a result, I spend valuable time handling these transactions personally.

  4. Try to find a better group of people who are better able to field your inquiries or truly care about customer service. Dare ya.
    Stephen G. Slater
    Nautilus Seafoods, Inc.
    Seattle, Washington

  5. Ryan Fears

    Truly appreciate you sharing this blog post.Truly looking forward to find out more. Really Great.

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