Using Net Promoter Scores to grow business

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Watch your back, Hagerty.

Before joining VantagePoint, one figure stuck in my head – 84. That was the most recent Net Promoter Score (NPS) posted by VantagePoint. An impressive feat that can only be made possible through the collaborative and spirited partnerships we enjoy with our clients. With all due respect to insurance provider Hagerty International, which posted 92, don’t look in your rear view mirror because we’re setting our sights even higher in 2016.

For those who aren’t familiar with NPS, the calculation is quite simple. Survey respondents answer a single question on a 0-10 scale: How likely is it that you would recommend [brand] to a friend or colleague? Those who answer 9 or 10 are considered “promoters.” Answers of 0 to 6 count as “detractors.” The percentage of detractors is subtracted from the percentage of promoters to determine the Net Promoter Score. Here is the formula:

(Number of Promoters — Number of Detractors) / (Number of Respondents) x 100

NPS scores can range from -100 (all detractors) to 100 (all promoters), and anything over 50 is considered pretty impressive. Amazon scored a 69 last year, and beloved market Trader Joe’s earned a 62.

In addition to the NPS scale we posed 12 additional questions to our clients and asked them to grade us in report card fashion to determine how satisfied they are and to identify ways we can improve our services. Here are a few verbatim comments from our clients:

“Through crazy demands, deadlines and tight budgets, they have shown their creative prowess, enormous integrity and genuine passion.”

“More than an agency, they are an extension of our company, a partner, a co-worker.”

“Our account management is second-to-none, and the level of trust I have that they will do the right thing for my business is high.”

Other advertising agencies shy away from this candid feedback, but since 2008 we’ve embraced it. It’s critical to make sure we’re meeting and exceeding our clients’ expectations from ongoing account management and strategic counsel to the final creative product. Ultimately, we need to make a positive impact on our clients’ businesses — and by our clients’ own account we’ve received 15 As and 2 Bs.

Spend a few moments to review our client satisfaction survey report by clicking here. And if you’re not getting the most out of your current agency, give us a call to see how we can make a lasting impact in growing your business.

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