There are hundreds of metrics out there to measure customer experience, even though we track many of them, here at LoanPro we are big on the NPS (Net Promoter Score). This a single metric that operates on a simple principle – If you enjoy using a product or service, you want to share it. The idea is that customers can sum up their impressions about our company by answering a single question – “On a scale of 0–10, how likely are you to recommend LoanPro to a friend and colleague?
NPS is a customer loyalty metric that measures customers’ willingness to not only return for another purchase or service, but also make a recommendation to their family, friends, or colleagues.
What do the scores mean?
NPS breaks your customers down into three different categories based on their responses to the question:
Promoters (score 9-10) are loyal enthusiasts who will keep buying and refer to others, fueling growth.
Passives (score 7-8) are satisfied but unenthusiastic customers who are vulnerable to competitive offerings.
Detractors (score 0-6) are unhappy customers who can damage your brand and limit growth through any negative word-of-mouth.
NPS = % of promoters – % of detractors
An NPS scored ranges from -100 to 100. Your promoters pull your score into the positive half of the scale. A score of 0 or more is considered “good.” A score of +50 is “excellent” and above +70 is “world class.”
So what is LoanPro’s NPS?
At LoanPro, we use NPS to continually receive candid feedback from our customers, but most importantly, look for ways to improve. We are excited and grateful for being recognized for a 92+ NPS, and we should warn you that once you interact with our amazing Support team, and use our Loan Management System, you will never leave us.