Don't you hate it when you ask your customers for feedback and don't give it to you? In this blog post, I'll be showing you how to encourage customer feedback through Net Promoter Score surveys and how to make the process of giving feedback as convenient as possible for them.
The survey response rate is generally represented as a percentage. It’s calculated by dividing the number of respondents by the total number of surveys sent. If, for example, a survey is distributed to 1000 people and 200 of them complete it, then the survey response rate would be 20%. The big question is whether this is a good, poor, or average survey response rate. Analyzing the response rate of a survey will help you observe where you lost track, how you can improve communication with your customers, and significantly build a robust feedback system for your business.
A survey response rate has always been viewed as an important indicator of survey quality. A higher response rate is always accurate when surveying results; a lower response rate with a large sample is less accurate than a high response rate with a small sample. So the survey response rate determines the dependability on the results.
Normally a survey response rate of 50% or higher is considered to be excellent in most cases. It is believed that high levels of motivation drive a high response to complete the survey or a perfect personal relationship between the business and customer.
Various factors influence Net Promoter Score(NPS) survey response rates,
When you are engaged in business communication with the customer on one platform, say through the website, you must go for a web-intercept survey which just silently pops up on the end, where the customer can answer easily all your questions since the experience is so fresh. If you choose to email them late in the day, the chance of response will be lesser than the previous scenario.
The response rate for each and every industry is different, normally the response rate in B2B is higher than B2C. Likewise, the response rates differ for each and businesses.
As we said, the response rate differs for each and every category of customers, the response rates are higher when you target the millennials or even the baby boomers than customers above 60 years of age.
A survey from a well-known brand has the chance of high response rates than a lesser-known brand.
Complex, lengthy surveys involving long questions with bewildering answer choices will get far lower response rates than simple surveys with minimal questions.
The history of NPS rows back in 2003, when Fred Reichheld of Bain & Company first presented the metric by way of his paper "One number you need to grow" in Harvard Business Review, from that time till now it works as one of the best metrics followed by many business conglomerates to find out their customer experience. A product/service you send through a lot of processes starting from production to sales, there are a lot of people involved in it. Either it’s your employee or your customer, listening to them can give you so many values that no other strategies or business guides can teach you. NPS acts as the one motive or one goal to people at all levels of your organization and drives them to achieve your business's ultimate success.