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NPS

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We’re living in a world where consumer expectations are rising. According to a PWC study, 1 in 3 customers will switch businesses after a single negative experience. This consumer switching is estimated to cost U.S businesses about $136.8 billion per year. To keep up with the rising demand for better customer experiences, more businesses are now paying attention to customer feedback. And a useful tool used by these customer-centric organizations to collect and make sense of customer feedback is the net promoter score or NPS. In this article, we’ll explain what NPS is, how to calculate it, and how you can make the most of it improve customer experience in your business. What is NPS? The net promoter score (NPS) is a customer experience metric that measures customer loyalty and satisfaction. It’s gotten by asking customers a single question: “On a scale from 0 to 10, how likely are you…