NPS is Big Business
Net Promoter Score®, or NPS®, is a widely used method for measuring user satisfaction. It’s a simple and understandable measurement, so ubiquitous in user experience circles that two-thirds of Fortune 1000 companies use it internally and it’s become big business for the organizations who use it.
NPS was the 2003 brainchild of Bain consultant Fred Reichheld. Reichheld theorized that companies with higher loyalty also had higher profits. His example was Enterprise Rent-A-Car, which, at the time, measured loyalty with two simple questions: how was their rental experience, and would they rent again. By catering to users who answered positively to both questions, Enterprise assumed those profitable users would return.
Today, Bain and dozens of other firms provide NPS consulting services to help companies conduct NPS surveys. However, when it comes to measuring product quality and company growth, NPS is missing a leading indicator. Boiling user satisfaction down to a simple yes or no question misses the critical reasoning, feedback, and detail behind each user’s answer. Studies show that respondents drop off at a rate of 50% per question. So, a survey with just 2 questions should expect a 25% response rate, and you need many more than just 2 questions to capture useful user feedback. Companies are further missing comprehensive results because they’re only given a snapshot of portioned results over various time periods.
To get an accurate representation of both user satisfaction and product quality, companies are increasingly going straight to the users themselves. With the rise of technology, users convey issues with product quality through comments across app stores, social media channels, as well as internal and external support tools. But, it’s incredibly difficult for businesses to capture and evaluate user feedback from so many sources and languages. Some user feedback and five-point star ratings can be captured from the Apple App Store and Google Play Store, but it’s still difficult to parse the details from an abundance of comments written in different languages. Even then, you’re left with mountains of data, and still missing user feedback from all channels.
unitQ Score – Leading Indicator for NPS
Businesses need an operational metric they can track daily, so they can get a current and precise understanding of what’s impacting their product and user experiences right now. Product Operations, Support, Engineering, and Leadership teams rely on timely details to make confident data-driven decisions to fix the right things faster and retain user satisfaction.
As the first metric to measure your product’s health, the unitQ Score is a leading indicator businesses rely on to monitor product quality and improve their ratings. It’s based on user feedback data gathered automatically and evaluated by machine learning, and then normalized to allow for easy tracking of improvements and comparing your products with those of competitors. As an operational metric that’s updating daily, it provides the most timely and accurate representation of product health. Using artificial intelligence to understand the sentiment, the unitQ Score automatically captures data to provide a comprehensive, unbiased indicator of product quality. It also provides imminent signals that businesses need to drive quick action and validate key product decisions.
When used as a leading indicator of NPS, businesses can leverage powerful insights to ensure user retention and satisfaction, set goals, identify strengths and weaknesses, compare progress against other brands, and give their teams the quantitative data needed to determine the scope, impact, and prioritization. unitQ Scores are updated daily, with over 2,000 public unitQ Scorecards published every day. Working constantly, the unitQ platform also captures detailed metadata on operating systems, Quality Issues, languages, and more so business teams can quickly spot issues, accurately prioritize with data-driven insights, and get to work fixing what’s most important to them and their users.
unitQ Score + NPS = Powerful Insights
NPS is built into the fabric of corporate user experience initiatives. But, as technology takes over and users provide the bulk of their feedback online, across dozens of channels, and in diverse languages, a leading indicator is also needed to measure user experience, and being able to quantify product quality plays a significant role in both maintaining and increasing user satisfaction.
unitQ Score lets Quality, Product Operations, and Engineering quickly, efficiently, and effectively understand and act on user feedback while giving teams an easy-to-understand score for tracking product quality and user experience trends. Both are critical to reaching corporate goals, and while a score gives you a metric, unitQ Score gives you intelligence to improve your score and the user experience.
Learn more about unitQ Score, or test-drive unitQ Monitor today. You’ll see how unitQ helps your teams align around product quality, get fast and accurate insights on product health, and can elevate your user experience to fuel growth.