What is NPS?
Normally, when you decide to buy a product, you do 2 simple things:
- Look at the product's reviews on the internet.
- Ask your friends and family if they would recommend it.
Recommendations are powerful! According to Nielsen's Global Trust in Advertising report, 83% of respondents said they trust recommendations from family and friends more than any other form of advertising.
This means that having even one customer living a bad experience with AIESEC can cost you a lot. In fact, customers are more likely to talk about a bad experience with your brand than a good one.
The process of collecting feedback and identifying potential pain points is more vital than anything nowadays. this is where NPS - Net Promoter Score comes into place.
The Net Promoter Score - NPS
NPS stands for Net Promoter Score. It is basically a customer satisfaction benchmark that measures how likely your customers are to recommend your business to a friend. The question that AIESEC asks customers is the following:
How to calculate NPS?
As you can see, the options presented to our customers are spread out from 1 to 10. We categorize the answers as follows:
Promoters: Customers who answer the question above with 9-10.
Passives: Customers who answer the question with 7-8.
Detractors: Customers who answer the question with 0-6.
In a few words, promoters are enthusiastic, loyal customers who will tell good things to their friends about living experience with AIESEC, bringing in new customers. Passives are indifferent and could become promoters. Detractors are unhappy customers, and they could do damage to your brand.
The key to achieving a high NPS is having a greater number of promoters than detractors - a lot more. But how can I calculate my NPS?
To calculate the NPS, simply subtract the percentage of detractors from the percentage of promoters.
For example, imagine you surveyed 100 customers. If 40% were detractors and only 50% were promoters, your NPS would be 10 (50% - 40% = 10).
Let's understand how NPS Analytics works!
By accessing https://expa.aiesec.org/analytics/nps and setting up the filters, you will be able to check, in a specific date range, the NPS information from our entity in a chart and in a table. As an example, you can see below the NPS of AIESEC in Antalya between Feb 1st, 2019, and Jan 31st, 2020.
Moreover, you can check the NPS between your entity and another specific entity using the 'Realized with' filter. Below you can check the NPS between AIESEC in Antalya and AIESEC in Brazil in the same date range as above:
Also, if you are checking the NPS of an MC, RO, or AI, you will be seeing the NPS data for the entity chosen and its child entities: