In this podcast on intellectual capital, Vince highlights how important it is for smaller businesses to have a high Net Promoter Score (NPS). A company’s NPS is calculated based on their customers’ responses to one question: “How likely is it that you would recommend our company/product/service to a friend or colleague?” This score is measured on a scale of 1 to 10. It’s easy to see how useful a tool the NPS is for understanding how loyal a company’s customer base is. More than two-thirds of Fortune 1000 companies use the NPS to measure how successfully they are meeting their customers’ expectations.
Do you know what your customers’ overall perception of your brand is? Using the NPS tool is an excellent way to evaluate social capital, a critical part of any business’s intellectual capital.