What is Net Promoter Score (NPS), and how do you calculate it?
In short – Customer loyalty and satisfaction metric based on survey responses. A key marketplace metrics you should track.
Net Promoter Score (NPS) Formula
NPS = % of Promoters - % of Detractors
Net Promoter Score gauges customer satisfaction and loyalty by asking how likely customers are to recommend the marketplace to others.
A high NPS indicates strong customer relationships, which can lead to organic growth through referrals. It helps in assessing overall brand perception.
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.
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Ratio of available listings to active buyers
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Net increase in the number of users over a specific period