For any organization, there are various ways to measure success, each with its own unique characteristics. Success could be measured in revenue, the number of products sold, or even the number of new customers. But there’s one measure of success that tells you a little bit more than a simple metric… Net Promoter Score (NPS)!
What is NPS, and what does it measure? Let’s define the term and explain why it’s important and how it impacts sales and support at Clarity.
What is a Net Promoter Score (NPS)?
According to Qualtrics, a Net Promoter Score or NPS is the gold standard of customer experience metrics and measures the loyalty of customers to a company on a scale of -100 to +100, where organizations strive to get as high a score as possible.
NPS was first developed in 2003 by Bain and Company and is now used by millions of businesses to gauge how their customers perceive their business. This is done by asking customers a simple scaled question: “How likely are you to recommend a company to your friend or colleague?” Respondents rate their willingness on a scale of 0 to 10. The scores are aggregated together to produce an overall NPS.
As a third-party benefits provider, NPS is something we take very seriously at Clarity. It’s more than just a measurement of our customers’ willingness to recommend our benefit solutions to others. For us, NPS really comes down to how well we uphold our mission to serve brokers, clients, and their employees.
How is a Net Promoter Score Used?
Because NPS gauges overall customer satisfaction with a company, the NPS can be used on an organizational level to draw attention to topics or issues that might need polishing or improving throughout an organization.
For example, a low score for a benefits administrator may indicate that it’s time to freshen up your offerings or sales process. A high score may indicate that your recent efforts, campaigns or products are being well received.
This kind of data can be collected and used on an ongoing basis to ensure a company is always satisfying its customers and providing the resources they need for success.
To put NPS into context, Clarity’s current NPS scores are:
- 55 among our consumer benefits clients
- 65 among our Brokers
- 75 among our COBRA Clients
When compared to the industry average of 14, Clarity has a measurable leading edge over other benefit providers, proving we deliver some of the best customer service in the industry. To learn more about our NPS, growth rate and client retention rate, click here.
What does a Net Promoter Score Impact?
When we commit to professional excellence and carry it out in our service, benefits technology and solutions, we not only provide individuals with the tools they need for wellness, but we help pave a simpler path toward financial freedom.
For Clients and Brokers, partnering with a benefits administrator with a high NPS means you can focus on easing administration efforts, making it simpler for you to satisfy your organizational obligations and provide for your employees.
But that’s not all… employees benefit too! When an employer partners with a benefits administrator with a high NPS, employees can stress less as they enjoy benefits that are easier to navigate, understand and use–taking the guesswork out of benefits. It’s a win-win-win!
Service that Really Supports
No matter which measurement of success you choose to focus on, one thing is clear: Net Promoter Score can tell you so much about a company’s commitment to its employees, customers and partners. When it comes to choosing a third-party benefits administrator, choose an organization that not only knows its NPS, but actively celebrates it!
At Clarity Benefit Solutions, we are committed to providing world-class customer service that our clients can expect in every interaction. That’s why we’re getting ready for another NPS Survey! Like many organizations, we’ve experienced a range of changes over the last couple of years, so we’re anxious to see how you feel about your relationship with Clarity.
Be on the lookout for our survey in the coming weeks!