How would you rate your acquaintance with the gold standard of customer experience metric — Net Promoter Score?
Regardless of where you are in your journey of discovery, you will eventually have to resort to an NPS report to make sense of the customer experience surveys. That is why we highly recommend you learn how to develop an NPS report.
In this extensive guide, we will walk you through a comprehensive step-by-step tutorial for creating NPS reports. But before we do that, let’s sharpen our understanding of Net Promoter Score, NPS reports, and the reasons why you should create one.
Let’s get started, shall we?
|Table of contents|
|What is a Net Promoter Score (NPS)?|
|What is an NPS Report?|
|What are the benefits of creating an NPS report?|
|A step-by-step guide to creating NPS survey reports|
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What is a Net Promoter Score (NPS)?
Net Promoter Score allows companies to effectively measure customer loyalty and satisfaction.
It is an important metric that helps companies measure the likelihood of their loyal customers recommending them to other people in their network.
In other words, NPS scores make it easier for brands to figure out whether or not existing customers are loyal to their products and services. Net Promoter Score is formulated by gathering responses left by NPS survey participants.
Customers are subjected to NPS surveys after an interaction, transaction, or event.
Net Promoter Score surveys tend to generate customer feedback against questions like — “On a scale of 0-10, how likely are you to recommend our product/service/company to a friend or colleague?”
What is an NPS Report?
An NPS report is essentially a breakdown of the NPS surveys conducted to solicit customer feedback against open-ended questions.
Business owners and marketers can refer to NPS reports to drive insights and prepare better customer retention and satisfaction strategies.
Here are four different types of elements you can find in an NPS report. Let’s discuss them briefly.
1. Statistical data
Most Net Promoter Score tools provide marketers with a dashboard to keep pace with the changing NPS score.
NPS reports can include stats related to overall NPS score, average score, total NPS responses, total snippets (audio/video responses), and other high-level important stats.
2. Word cloud
Word cloud is essentially an AI technology that helps marketers identify key terms and phrases that frequently occur in the NPS scores responses.
Since the words are occurring frequently, they matter to your audience and the related issues need to be resolved immediately.
NPS reports can also have charts that help marketers and business owners segment and analyze the NPS responses based on topic and sentiment.
The NPS analytics tools use Natural Language Processing (NLP) techniques to break down the responses through sentiment and topic analysis.
Since Net Promoter Score is a metric that keeps changing, marketers should be up for tracking the score trends over a period.
NPS analytics tools can produce graphs to help marketers understand how topics and sentiments (positive and negative) change over time.
What are the benefits of creating an NPS report?
Why should you create an NPS report? Does it solve problems? Well, turns out it does help resolve serious issues related to customer loyalty by providing decision-makers with insights to implement.
Let’s discuss some of the crucial benefits of creating an NPS report.
1. Keep NPS score and customer feedback records
As a marketer, you’ll want to track and record the NPS survey responses and the related insights. Creating an NPS report makes it easier to refer to the insights of a particular time period or NPS survey.
2. Use it for internal communication
Communicating different statistics and insights from an NPS survey across teams and departments can be quite a time-consuming and exhaustive exercise. Instead, sharing an NPS report will help respective teams retrieve the required information.
3. Organizational buy-in
Conducting surveys, user testing, usability testing, and more requires organizational empathy.
Without organizational buy-in, you can rest assured that the insights from NPS reports will fall on deaf ears. An impressive NPS report will help bring major decision-makers and stakeholders on the same page.
4. Provides actionable insights
As mentioned earlier, an NPS report comes loaded with insights in the form of charts, numerical data, trends graphs, and visualization-driven word clouds. These can be used to retrieve crucial insights and create a set of recommendations for marketing teams.
A step-by-step guide to creating NPS survey reports
Now that we know what NPS reports are and what they can help marketers and organizations achieve, let’s use this step-by-step guide to learn how to create NPS reports.
1. Collect data for the NPS report
An effective NPS report formation starts with data collection. How can you collect NPS data?
Well, you can easily refer to some of our previous posts as we have shared the steps to run NPS surveys in them. Make sure you create a list of channels from where you consolidate NPS data.
These channels can be emails, text messages, mobile applications, website pop-up surveys, and others.
As the questions being asked are the same, you might not need to segregate the responses based on channels. Your focus should be on collecting the NPS survey responses and storing them, to be retrieved later for NPS report preparation.
2. Analyze and organize NPS data
Once you have collected the NPS responses from all the channels, you should look forward to the next step, which is the organization and analysis of NPS data.
In this, you will have to calculate net promoter score — a simple exercise we have discussed numerous times in our previous posts.
Upon calculating the NPS score, you can go ahead and segment the customer responses based on demographics, customer lifecycle stage, purchase history, and more.
It will facilitate effective data analysis and pattern/trend identification. Use this step to analyze the responses and figure out the key factors driving positive customer experience.
3. Visualize data for the NPS report
The next step to create an NPS report is data visualization. This is crucial as you want the NPS report to present data in a clear and visually stimulating way.
As we mentioned earlier, you can include statistical data points (numeric data), charts, bar graphs, trends, word clouds, and other forms of data representation in the NPS report to make it more meaningful and convincing.
You may even add heatmap data to the NPS report to make it visually appealing and easily interpretable. The idea here is to make the NPS data easily understandable by members of your organization regardless of their departments.
4. Prepare the NPS report
With all the visualization and data representation ideas in the pipeline, you can start compiling them into a comprehensive NPS report.
However, you don’t just want to put the information wherever you feel like. It’s important for all NPS reports to have a structure.
Although every organization will have different factors and objectives to target while drafting an NPS report, marketers are recommended to include the following sections —
a) Overview or executive summary that includes the overall NPS score, trends, and insights.
b) Data collection/analysis methodology used during report formation.
c) Detailed discoveries including information related to promoters, passives, detractors, segmented data, and trends. The data representation techniques discussed earlier will help back up your discoveries.
d) Suggestions, based on your NPS discoveries should be added to the report. Make sure the recommendations are clear, relevant, and actionable.
e) The conclusion has to be the very last section of the NPS report as it will essentially summarize the entire report while reiterating the importance of conducting timely NPS surveys to track customer loyalty and satisfaction.
5. Set NPS reporting frequency
You now have a functional NPS report, but the job isn’t over yet. You will have to set the frequency at which you will prepare NPS reports for the organization.
For this, you will have to figure out how often your organization needs the information.
Make sure you choose a realistic time frame for NPS reporting as you will need time to monitor results and turn NPS survey data into actionable insights.
6. Implementation of insights
The last step is to put the suggestions and recommendations into action. This can be achieved by effective prioritization of the recommendations.
With priorities set, you can develop an action plan and assign responsibilities. The implementation should be closely monitored to measure the impact of NPS reporting.
The Net Promoter Score is an excellent tool that allows business owners to measure customer loyalty, and at the same time, make positive adjustments to their business strategies.
Soliciting NPS reports frequently will ensure your marketing team tracks all the correct metrics and conducts in-depth customer behavior analysis.
With an easy-to-read NPS report, you can conveniently rely on data analysis, pull out key insights, and facilitate their implementation to effectively improve the organization’s bottom line.
Most importantly, having a clear, concise, and convincing NPS report makes it easier to get organizational and stakeholder buy-in. Stay tuned as we come up with more exciting updates and guides on NPS!