Are you wondering why a Net Promoter Score (NPS) is so important? You’ve heard us talk about it, so let’s take a deeper dive.
What is an NPS?
Net Promoter Score (NPS) is used by businesses to measure client loyalty and how likely they are to refer your services to others. It’s a way to measure client satisfaction via a simple, one-question survey that produces a single figure for benchmarking. An NPS score standardizes scoring and provides a clear distinction between positive and negative reviews, with optional comments to justify the score.
“On a scale of 0-10, how likely are you to recommend us to friends, family, or colleagues?”
What are the benefits of using an NPS?
There are a number of reasons why you should use an NPS:
It’s easy to use. You can call, text, or even email a one-question survey and then track via a basic spreadsheet.
It closes the feedback loop. An NPS gives you a chance to change a negative impression. Since an NPS survey only takes a minute of a client’s time, it’s easy to get them to engage.
It provides a benchmark. An NPS provides a metric for client quality alongside quantity.
It offers client transparency. What’s the validity of online reviews? As Agents, you’re most likely to request a review from a previous client who raved about you. You’re probably not as likely to make the request of a difficult client. Wouldn’t it be better for the consumer to see both the good and the bad? When requesting an NPS, you don’t cherry-pick the best of the best, you’re surveying ALL of your clients.
Another way to look at it, Zillow is doing this via their CSAT score (customer satisfaction score). Elite agents should lead with this, not an internet marketing company.
As a LEOPARD member, you have exclusive access to member resources such as how to implement an NPS survey for your real estate business. We have templates and processes available to help you set your team up for success.