Being in the payroll tax industry, you might have heard of Net Promoter Score (NPS) being used as a critical metric for referencing a company’s health.
Depending on who you ask, here’s a definition of NPS:
The Net Promoter Score is an index ranging from -100 to 100 that measures the willingness of customers to recommend a company’s products or services to others. The score acts as a leading indicator of growth and the temperature of a customer’s overall satisfaction with a company’s product or service and loyalty to the brand.
Our VP of Sales, Summer Poletti sums up our NPS score for 2015/2016 this way, “We’re pleased to see our current NPS score of 54 nearly double over last year’s score of 28.” Poletti continues, “We’ve worked very hard to drive our customer satisfaction to improve our business performance and we’re feeling very good about that.”
The Net Promoter Network explains the calculation as using the answer to a single questions with a scale of 0–10. The question: How likely are you to refer [brand x] to a friend or colleague? Or some derivative of that.
Net Promoter Network summarizes respondent into groups of Promoters (scores of 9-10) – these customers are enthusiasts and will refer, even fuel growth by their high score. Passives (score 7-8) are satisfied to a certain extent but not included in score results due to their satisfaction. Still with me? Then there are the Detractors (score 0-6) where appears ‘orgs’ seem to be rotating bald tires as these customers are unhappy and can set forth a bumpy road of damaging your brand simply by spreading the word.
The calculation takes the Promoters less the Detractors to come up with your net NPS score.
NPS scores drive actions simply by
communicating customer insights to be optimized when shared across the organization.
Company Adopts an ESOP
More good news for PTM. Financial Business Group Holdings (FBG), the parent company to PTM recently made the announcement that they had become 100% employee owned. The Employee Stock Ownership Plan (ESOP) covers its 85 person employee base – read press release here. Congratulations!
For more information on PTMs products and services, please contact Summer Poletti at (949) 225-3097.