Earlier, the conversion value was considered the monetary worth of an asset when converted to the lowest deviser, that is money.
At a future date, marketing borrowed this concept to create a notion of conversion rate. This by the by will be the reflection of your marketing endeavour success, usually expressed as a percentage.
Further on I’ll elaborate how to go by using it effectively and its importance.
For instance: Imagine that we set our sight on increasing active membership of our community by sending targeted mail shots to all of them within the cache and that who isn’t already a member.
We then dispatched a thousand emails and acquired 254 fresh members. That’s 25.4% conversion rate.
Don’t be green with envy!
Taking this attempt one phase further, we could add monthly subscription charge for all of those new (254) members. Costing them $15 every month would swell our chest box with an impressive sum of $45,720 yearly.
As time passes, the community members could be sorted out into three varieties.
Promoters — They would act as an evangelist, spreading the word around, urging their friends or colleagues to participate or buy.
Passive — These members would come to be humdrum followers and get stuck in the middle of the process. They would stay active in the group but never promote.
Detractors — The rest of the members (third group) would depart because of less or no time, involvement or other reasons and call off their membership.
Perchance, the first group would be your source of a high NPS score while the last group would be your source of low NPS score. As goes the universal belief, some of the marketers trust that this score directly correlates with growth.
In some way, NPS seem to be a polite manner of demanding your buyers, “What do you think of us?’’ Thus it’s understandable that net promoter scores are obtained by asking customers from the scale of 1–10, the probability of recommending a product to others.
Well, this precisely means, how likely they are to speak in favor of the product to their friends or colleagues. If they give away ‘1’, that means ‘never’ and there is the zero possibility of urging the product to others. If they give away ‘9’ that means ‘definitely’ and they would drop by the store again, anytime.
Talking about the psychology, the mental attitude or whatever, we are raised by the society where the thumb rule is to be ‘polite’. This expresses itself in our tendency to award the neutral or average scores as opposed to any of the extremes.
This theory sustains that a score from 1–6 will be given by a detractor (non-promoter) whereas a score between 9–10 will be from a guaranteed customer, a converter.
Over the years, many of us have tried gazillions of ways to measure user behaviour. Where most of them are only poor attempts to amass data in order to understand and use it to improve our products and services.
But with all the research and experimentation done, NPS seems to be the most useful and practical method for the present constellation of websites and businesses.
The primary benefits of NPS are capable of luring you into it!
Perk 1 — Absence of complexity
Perk 2 — User-friendliness
Perk 3 — Flexibility/Adaptability
BONUS: Among the list of forerunners, Apple, Logitech, Enterprise Rent-A-Car, and Philips have developed their own successful Net Promoter Systems. Many of such proponents share their learnings on NPS Loyalty Forum.
Now that you know the benefits you can reap from NPS surveys, it’s time we move ahead to learning how to run an NPS survey from your website and what are the optimal ways to deploy an NPS survey.
Conducting an NPS survey via email is easy compared to other surveys that you run. There are few different ways to conduct NPS surveys across your email list.
The profound way to conduct an NPS survey is by sending your email list a link to your NPS survey. This works really well if you have a responsive list, but the only downside of this approach is, the participants are supposed to take multiple steps to answer your survey. But this has a bunch of drawbacks because you will lose an ample amount of subscribers in every step of this process.
FIX: For having a better outcome out of your NPS surveys via email, I would recommend you to send the NPS surveys directly to your email list. So that the subscribers would simply click on the survey and answer it directly. This way you will find that you get a relatively high response rate.
Executing an NPS survey on your website is indeed a straightforward method. By which you can direct your visitors to take the surveys directly from your website. There are certain ways to conduct an NPS survey,
Most times, you would want to take advantage of the attention that you have with your subscribers or you might want to add a few CTAs so that they give you additional information or in a way that might even woo them to buy your products.
“Be real, be creative”
NPS survey via pop-ups is darn powerful because you get to send surveys to your website visitors at the right time. This is because you have the complete control over the context of your NPS survey.
The benefit of knowing the context is that you could ask for an NPS score at very specific times.
This will help you segment your NPS surveys and even help you determine whether or not the respondents would promote your product.
With this type of contextual data, you will have a far greater understanding over WHY is your NPS score is WHAT it is like now. Data of this type would help you identify the problem on your website and to fix them.
Your net promoter score (NPS) will tell you how loyal are your conversions (how likely would your prospects recommend you to their friends).
NPS is a great tool in the arsenal of getting customer and user feedback. And that’s why you should use this magical ammunition to get insights from your user or customer.