Businesses can send out this question— “On a scale of 0 to 10, how likely are you to recommend [our product or company]?”—at various stages of the customer’s journey.
Fred Reichheld, a partner at Bain & Company, developed the net promoter score (also called the NPS or NPS score) in 2003. Idea is to give businesses a quick pulse check to learn how the customers are being treated and how loyal are they with the product / brand
Calculation is standard and is followed globally. This is easy to calculate.
| Range NPS Score | Indicative Categories |
|---|---|
| -100 to 0 | Needs of improvements |
| 0 to 20 | Good |
| 20 to 50 | Favourable |
| 50 to 80 | Exellent |
| 80 to 100 | World Class |
Net promoter segment has 3 customer segments where we measure their loyalty:
NPS results help to take immediate action to improve your relationship with the client, AND – and to plan your long-term improvements.
National Payments Corporation of India (NPCI), an umbrella organisation for operating retail payments and settlement systems in India, is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India.
The products of NPCI are being used by the end customer for which we are seeking feedback which shall be beneficial for our members as well as NPCI.Through NPS, NPCI measures the concern areas / pain points that customers highlight which is then taken up by the respective product managers to work upon.
Ease in using the products and services
Timely closure of complaints and grievance
TAT reduction
Technical level issues and concerns are sorted
Reduction in bank level issues
Products are offered and issued to consumers through bank hence NPS feedback helps in attaining the high level of satisfaction. This helps banks / partners in continued loyalty towards their products.
Suggestions / recommendations provided by consumers are also related to banks and its services which helps bank in understanding the areas that needs to be focussed upon.
Product specific survey links are shared by partner QDegrees with NPCI. These product survey URLs (Links) are mapped with respective banks.
The survey feedback links / URL’s is shared with banks to take it up through various channels.
As per the current approach, banks are triggering the survey feedback through SMS (Links are embedded in their SMS text template)
Survey links can be used under below mediums: