In a world of technology, customer sentiment becomes the most important factor. There are many metrics available to help understand the sentiment. Among the long list, the Net Promoter Score (NPS) and Customer Satisfaction Score (CSAT) are crucial metrics. As a B2B SaaS company, Tone aims to give utmost care to customer sentiment and satisfaction. We use voice technology to improve and increase our clients' NPS and CSAT scores.
What is NPS and its calculation:
One primary factor in understanding customer satisfaction is assessing customer loyalty. So, NPS, or Net Promoter Score, measures customer loyalty and how likely they are to recommend your product or service. It ranges on a scale from 0 to 10. Once the responses are recorded, they are categorized into three sections: Promoters (9-10), Passives (7-8), and Detractors (0-6). After this, the NPS score is calculated by subtracting the percentage of Detractors from the rate of Promoters.
NPS = Percentage of Promoters - Percentage of Detractors
According to this measure, the NPS score will likely vary from industry to industry. However, an NPS score of 5 is good, and above 7 is excellent.
What is CSAT and its calculation:
Now, the second most crucial factor is, of course, customer satisfaction. Although there's no direct, tangible way to measure satisfaction, there's one useful metric. CSAT, or Customer Satisfaction Score, measures the user's immediate satisfaction with a product or service. So, how will this be obtained? It's typically attained through a CSAT survey. Herein, customers are asked to rate their satisfaction on a scale. It often ranges from 1 (very unsatisfied) to 5 (very satisfied). The average of all survey responses is measured as a CSAT score. A high CSAT score is always appreciated as it indicates your customer satisfaction.
CSAT vs NPS: Loyalty and Satisfaction
While both metrics are valuable, both bring different insights about the customer. Firstly, the CSAT solutions focus on short-term satisfaction. At the same time, NPS management provides broader insights into customer loyalty over time. Accounting for this data and assessing the metrics can be a hassle. Tone's solutions can integrate both CSAT survey questionaries and NPS collection seamlessly. The results given dramatically improve the depth and accuracy of these insights.
The Role of Tone in Enhancing NPS and CSAT with Voice Technology
Although this is a hands-on job to collect customer feedback, Tone's voice technology makes the job all the more effective. It enables the collection of richer, detailed feedback. Traditionally, what would limit the customers to pre-defined responses? Tone's voice feedback lets them express their thoughts freely alongside the NPS/CSAT. This feature will also give valuable insights about the "why" behind an NPS rating or a CSAT score.
In a nutshell, Tone's voice technology will empower businesses to understand customer feedback more and enhance customer loyalty and satisfaction. So, are you ready to transform your customer feedback strategy? Take a deeper dive into customer feedback with Tone's cutting-edge voice technology. Contact us today to elevate your NPS and CSAT scores and drive your business forward. Don't just listen to your customers—truly understand them with Tone.
