At Circle we believe that in B2B environments Net Promoter Score (NPS) is only relevant to some businesses (see here). If you’re one of them, then evaluating your NPS against a benchmark is critical – without some point of comparison the number itself is meaningless.
Three benchmarks are especially relevant.
First is a comparison against yourself over time. NPS only serves a purpose if it’s used as a tool to improve performance. That requires a programme of action and monitoring the impact of this through a regular NPS measurement programme shows if you’re ‘moving the needle’ and how to move it faster.
Second is a comparison against your competitors. This benchmark is useful as it reveals:
- The level of competitive threat – competitors with a higher NPS score make it harder for you to gain market share at their expense and pose a threat to your customer base
- Norms to set targets against – competitor NPS scores reveal what customers have come to expect in your industry and the score you should aspire to if the goal is to become the market leader
- Ideas to improve performance – having identified competitors with relatively high NPS scores you can then undertake further explorations to find out, and potentially imitate, the ‘secrets of their success’
Third is a comparison against the wider B2B environment outside of your industry. By basing your NPS targets on the ‘Gold Standard’ from across the B2B landscape, a) you’ll be more in tune with customers as this is the context in which they’re evaluating you, and b) you’ll have the potential to leave competitors for dust as you’ll be setting a higher bar.
So what does a ‘good’ NPS score look like in B2B? Well, having crunched the data from tens-of-thousands of responses to dozens of surveys, all conducted exclusively in B2B environments, we’ve a pretty good view here at Circle. See how you stack up to the NPS benchmarks below:
Read more about our approach to business-to-business (B2B) customer satisfaction surveys.