Thursday, September 29, 2011
Summary: V-Rooms received an A+ rating in a recent survey of current and past clients using the Net Promoter Score methodology developed by Fred Reichheld, author of “The Ultimate Question”.
Atlanta, GA (PRWEB) September 29, 2011 — V-Rooms Virtual Data Rooms received an A+ rating in a recent survey of current and past clients using the Net Promoter Score methodology developed by Fred Reichheld, author of The Ultimate Question. This method is based upon how likely a customer is to either repurchase from you or refer your company to a colleague or friend.
Determined to find a better way to quantify how well a company is serving its customers, Reichheld developed the Net Promoter Score methodology, which is based around asking customers a single question that is predictive of both repurchase and referral:
“On a scale of zero to 10, how likely are you to refer our company to a friend or colleague?”
Reichheld discovered that when customers answered this question with a nine or 10, they were statistically more likely to repurchase from the company and/or refer it – so much so that Reichheld found that the companies that score well on this measure were more likely to grow than were lower-scoring companies. Not surprisingly, the news that a researcher had actually discovered a way to predict growth triggered Fortune 500 companies around the globe to latch on to the methodology.
“We decided to use this approach because of its simplicity and accuracy,” said Dan Bradbary, CEO of V- Rooms. “We were able to deploy the questionnaire in a few hours using an online survey tool and, since there is only one question, it was not a burden on respondents. Although we felt that our customer satisfaction level was good, we were pleased to receive a ‘World Class’ Net Promoter Score.”
From the survey, a company’s Net Promoter Score can be calculated by taking the percentage of your customers who are “Promoters” (score 9-10) and subtracting the percentage of your customers who are “Detractors” (score 0-6).
Reichheld found the average Net Promoter Score among the companies he surveyed was 10 to 15 percent, so by definition, if your score is north of 15 percent, you’re above average, and you can expect your company to grow at a rate faster than the economy. A small handful of companies including V-Rooms have achieved a Net Promoter Score of at least 50 percent, which Reichheld defines as “World Class.”