How likely are you to recommend a business to your friends or family?
This question is one of the most valuable to identifying the overall loyalty of a customer. It’s measured by the Promoter Score to give you an overview of the perception of your business. NPS Provides a single powerful metric for Customer Experience.
The Net Promoter System (NPS) is a customer satisfaction metric comprised of scores that measures how likely someone is to recommend your business on a scale from 0-10. 0 is very unlikely to recommend and 10 is very likely to recommend.
Net promoter scores are grouped by responses into three categories:
Detractors are customers who score a 0-6. Passives score 7-8. Promoters are customers who score a 9-10.
NPS is measured by the ratio of positive reviews over the total amount of reviews, minus the negative reviews over the total amount of reviews.
For example, if there are 100 total responses, and 70 are Promoters, 20 are Passives, and 10 Detractors, then you take 70 -10, which equals a 60 NPS.
Low NPS measurements can motivate you to make changes, and positive responses push you to engage more and find out what exactly you’re doing right.
Along with NPS it’s important to collect both qualitative and quantitative feedback so we ask why the customer gave that particular score.
This open-ended text feedback is a great source of qualitative insights and gives the customer a chance to expand on their reasoning for their scores. Plus, it provides you excellent insight into where to make operational improvements.
Net promoter scores can be used in all businesses but can have a significant impact on emerging industries like cannabis.
Because cannabis is just establishing itself, there is not much data as to the best way to run a dispensary, it is a trial and error process. NPS gives insight and direction for dispensaries to make a change according to their customer feedback.
NPS is a key metric in customer experience management. With the importance of customer experience and the emerging technology for Customer Experience Management platforms in the cannabis industry, it’s important to understand and use your NPS to improve your dispensary and create a customer experience that gives you a competitive advantage.
At RipeMetrics we use NPS to automatically capture real-time feedback from your customers. It’s the quickest and easiest way to make data-based business decisions distilled from real customer feedback.
Sign up for a demo today to discover how RipeMetrics can help you on your journey to build a world-class Cannabis Customer Experience.