You probably have heard about the Net Promoter Score, a customer experience metric that shows how loyal your customers are to your business. Using this indicator, you can simply identify what level of customer satisfaction you have achieved and get a clear idea of how much improvement it requires.
Many managers will ask themselves the question, “what is a good NPS?” when they see the result of their NPS survey. Although it can be beneficial to have brighter ideas about standards for a company that is working on its customer experience and trying to improve it, it is vital to have a better approach toward the question. It would help if you look for the standard Net Promoter Score by industry, not a general average number.
In this article from Pisano Academy, we will talk about Net Promoter Score by industry. By reading this article, you will know why it is a good idea to have a thorough approach toward the NPS rate of your industry and will also have the numbers you are looking for.
What is a Good NPS: A Comparison of Apples and Oranges
As Net Promoter Score, also known as NPS, is very easy to measure, it is very common among different companies to regularly have benchmarks and comparisons, especially within their own industry. This will help them to see where in the path of customer loyalty they are, without the risk of being too much perfectionist or imperceptive.
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If you are going to do the same, it is crucial to note that the comparison you make is better to be between the business in your own sector. If your company belongs to the IT industry and you are comparing your NPS with the businesses within the financial industry, you are obviously comparing apples and oranges. This is also true when you compare your NPS numbers with an average number from a combination of sectors.
To wrap up, one of the best ways to evaluate your NPS compared is to compare it with Net Promoter Score by industry. This will help you assess how well your business has performed compared to your competitors within the same sector.
Net Promoter Score by Industry
This section will provide a list of NPS rates classified by their sector for a wide variety of industries. Different sources offer analyzed data of Net Promoter Score by Industry, and here we used data from Statista, which is created upon a survey conducted in 2020.
Based on these numbers, you can see that the education and insurance sectors gained the highest net promoter scores, with rates of respectively 71 and 70. On the other hand, healthcare, logistics and transportation and SaaS own the highest room for improvement with rates of 30 and below.
You can use the table above to compare your NPS survey results with your industry. If you need more information on how to reach these numbers yourself, check out our article on NPS Calculation.
