5 Years Tracking NPS and Still Improving
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We have been tracking our Net Promoter Score (NPS) at Fidesic since 2020 and working to improve our services and products based on this core metric. We genuinely care about customer feedback and are committed to improve based on that feedback. This is how we are able to offer solutions that continue to address ever-changing user needs. Our NPS journey began as a simple measurement but has transformed into a compass we use to help guide our roadmap.
NPS is a standard metric used to measure customer experience success and specifically the loyalty customers have for a company. NPS is different from similar metrics like customer satisfaction score because it measures customers' general feeling toward a brand overall rather than how their experience with singular interaction or purchase has gone.
Fidesic's Core Values and How NPS Aligns
The Fidesic crew lives by some pretty awesome values that we take to heart:
- Be Willing to Help - Dare to care. Helpful to a fault. We are the neighbor that is always eager to do whatever is necessary. Others focused.
- Solve problems in Creative Ways - Gather data. Explore ideas. Come up with solutions. We must innovate new ways to simplify problems to improve daily work.
- Seek New Ideas - Never stop learning. We must take personal responsibility for our learning. There are always new skills to learn and techniques for us to adopt.
- Maintain Positive Outlook - The way we choose to see and respond to others makes all the difference. We do what it takes and inspire others to do the same.
These aren't just fancy words on a website - they're baked into every keystroke for the Fidesic team. The NPS tracking system perfectly aligns with these values because it's literally asking people "Hey, how are we doing?" And because of our core values we actually listen to the feedback and do our best to make changes accordingly.
The team at Fidesic isn't just a crew of coders - we're humans who value having lives outside of work. This means we understand that when your work tools actually work, you get to go home and do fun non-work things. All of us want to help because we're in the same boat as you - trying to balance productivity with having an actual life.
How is NPS Calculated?
The way to calculate your NPS is to survey your customers and score their answers based on how likely they are to become or continue being repeat customers, how likely they are to recommend your goods or services.
Customers are then put into 3 categories based on the answers they give.
- Promoters to your brand
- Passives to your band
- Detractors to your brand
The net promoter score is calculated by subtracting the percentage of Detractors from the percentage of Promoters. Simple math that reveals complex feelings!
What is a Good NPS Score?
This question is difficult to answer with a specific number, but the important thing is to track your NPS. If you are tracking it and it is improving, that is a good sign. You will need to establish your own baseline and a good place to start is comparing your score to similar businesses in your industry. You can see what businesses in your industry generally consider a 'good NPS' here.
Think of it like your fitness tracker - what matters isn't some arbitrary goal, but that your numbers are moving in the right direction!
Why is NPS so Important
The reality is that almost all businesses will have more Detractors than Promoters. To top that off, Detractors are more vocal about their opinions than Promoters. In general, you want to tip the scale towards Promoters. Here's why...
- Promoters Renew – They will continue to use your products and services for years.
- Promoters Expand – In a B2B setting they will expand their use of your products and services as they grow.
- Promoters Forgive – Hiccups happen to all businesses sooner or later. Late delivers and service outages will be taken in stride by Promoters who tend to be more likely to continue being customers when they have an unsatisfactory experience.
- Promoters Promote – They will share content on social media and spread word of mouth to raise awareness of your brand.
Conclusion
Fidesic's dedication to customer feedback has yielded impressive results. Over the last 5 or so years our week-to-week average NPS is 42.3 which puts Fidesic well above the average (about 36) for Software as a Service providers. The team continues to listen, adapt, and improve because at Fidesic, making work better for everyone isn't just a goal – it's the whole point of showing up every day.
