What is Net Promoter Score (NPS), and how do you calculate it?
In short – A measure of customer loyalty and satisfaction based on user feedback.. A key marketplace metrics you should track.
Net Promoter Score (NPS) Formula
NPS = % Promoters - % Detractors
Net Promoter Score (NPS) gauges customer satisfaction and loyalty by measuring the likelihood of users recommending the platform to others. A higher NPS indicates strong customer engagement, positive brand perception, and potential for organic growth. This metric provides deep insights into business performance, helping to identify trends, optimize strategies, and improve overall marketplace efficiency. This metric provides deep insights into business performance, helping to identify trends, optimize strategies, and improve overall marketplace efficiency.
How can you find your Net Promoter Score (NPS)?
You should generally be able to calculate your Net Promoter Score (NPS) with tools you already posess. If that's not the case, signing up for an analytics tool may make sense.
Among others, twosided is one of the tools you could consider. Out-of-the-box, you'll get over two dozens marketplace KPIs and detailed tracking for your supply, demand and other factors that determine marketplace health.
Explore other metrics
Net Promoter Score (NPS)
A measure of customer loyalty and satisfaction based on user feedback.
Average Order Value (AOV)
The average value of orders placed on the platform.
Supplier Lifetime Value (SLV)
The projected revenue generated by a supplier over their tenure on the platform.
Repeat Purchase Ratio
The proportion of customers who make repeat purchases over a given period.
Customer Lifetime Value (CLV)
The projected revenue a customer will generate during their relationship with the business.