Concord has a Net Promoter Score, or NPS, of 84. We say that on our website and in our promotional materials, because it’s something we’ve worked hard to achieve. But … if you’re not in the know on what an NPS is, or what it measures, that number might not mean much. Let’s break down the NPS scoring process, and what that final number means to you and your business.
First, the definition: The Net Promoter Score, or NPS, is a widely used metric that measures customer loyalty and satisfaction by asking customers how likely they are to recommend a product or service on a scale of 0 to 10. It was developed by Fred Reichheld, a noted business strategist, author, and fellow at Bain & Company, in 2003.
How NPS Data is Gathered
OK, now that we know what a NPS is, how does Concord determine its score? In our case, it all begins with the Implementation team. A dedicated project manager acts as a single point of contact and keeps the customer informed about key milestones and timelines, streamlining communication and coordinating Concord’s teams of engineers, trainers, and Support staff for the most efficient implementation process possible.
Once the Implementation team has completed its work and has confirmed the customer is fully onboarded and needs no further assistance, we send an email with a link to our Client Implementation Survey. The first question is the NPS question: How likely are you to recommend Concord to a friend or colleague? Other questions include:
- What is the primary reason for the score you gave Concord?
- Please rate your satisfaction level with the following:
- Explanation of the onboarding process and deployment steps
- Overall onboarding process
In a process that takes less than one minute, we ask eight questions, with the first being the NPS question. We are proud to boast uncommonly high open and response rates (both more than 50%), which gives us a large sample of data about our performance. (According to Fullview, the average response rate for NPS scoring requests via email are 15-25%).
Then an NPS is calculated by subtracting the percentage of customers who answer the NPS question with a 6 or lower (known as ‘detractors’) from the percentage of customers who answer with a 9 or 10 (known as ‘promoters’).
How an NPS Score is Calculated
Categorization: Based on their responses, customers are categorized into three groups:
- Promoters (9-10): Loyal and enthusiastic customers who are likely to recommend the company.
- Passives (7-8): Satisfied customers who are not enthusiastic enough to be considered promoters.
- Detractors (0-6): Unhappy customers who are unlikely to recommend the company and may even discourage others from using it.
Score Calculation: The NPS is calculated by subtracting the percentage of Detractors from the percentage of Promoters. For example, if 70% of respondents are Promoters and 10% are Detractors, the NPS would be:
- NPS = Percentage of Promoters−Percentage of Detractors = 70%−10% = 60
In general, the standards for an absolute NPS score (with 100 being the top) are:
| NPS Score Range | Meaning |
| 0 – 30 | Negative to acceptable; significant room for improvement |
| 31 – 50 | Common range for most companies |
| 51 – 70 | Above average |
| 71 – 100 | Outperforming competitors |
How Concord Fares Amongst Competitors
To get a true “apples to apples” comparison for an NPS score, you’d want to see how companies within the same industry or overall sector compare. Concord, for instance, benchmarks itself against the Technology Group, which according to various online aggregators who track NPS scores, has a 42 NPS score on average across all tech companies who report their data. That’s exactly half of Concord’s score of 84!
We owe our uncommonly high NPS to a lot of work done to create an implementation process that makes everything as easy as possible for our customers. We know that a system installation, or upgrade, can be seen as a business risk or continuity concern. Our white-glove service takes that fear and uncertainty away. We set the proper expectations up front and then follow through on those promises to completion and beyond. We feel really good about that.
The Importance of a High NPS Score
Why should an NPS score be part of your decision-making process when evaluating a new product or service? Simply put, a strong Net Promoter Score is a trusted indicator that a company consistently delivers excellent products and stands firmly behind its service commitments. When you see a high NPS, it signals that the vast majority of existing clients are not only satisfied but are willing to actively recommend the company — a testament to reliability, transparency, customer service, and support. By choosing a partner with a top-tier NPS, you can feel more confident that your experience will be positive, your concerns will be addressed promptly, and your investment will be protected by a team dedicated to your success.
Concord has set the bar high. Our culture revolves around world-class customer service, and our teams across the company work to make sure we are doing everything in our power to ensure the best possible experience for our customers.
Learn more about Concord’s approach to low-stress, high-quality implementation here.