In this episode, Steli and Hiten talk about using an NPS (net promoter score) survey tool for startups. Steli didn’t know that a NPS survey could be used for anything other than testing your own core product. In today’s episode, you’ll hear the different ways Hiten is using this tool to build his business. You’ll also find out why the NPS survey tool is not just a score—the real value is found in knowing WHY you received the number you did in the first place. Tune-in to find out how to maximize the use of the NPS survey tool and how it can help you turn your “detractors” into “promoters” for your business.
Time Stamped Show Notes:
00:05 – Today’s episode is about how and when to use an NPS survey for your startup
00:34 – Steli and his team at Close.io were inspired by Hiten’s email regarding the NPS (net promoter score) of his online webinar workshop
00:55 – Steli says he has not thought about getting an NPS score for anything else other than their core product
01:58 – A NPS is a customer satisfaction score that helps you put people into 3 buckets
02:34 – You use only one question – How likely are you to recommend this product to others?
02:50 – The options are from 0 to 10, 0 being not very likely to 10 being very likely
03:02 – There is a scoring system – a score of 9 or 10 is a promoter, 7 or 8 is passive and anything lower than 7 is a detractor
03:32 – A detractor is someone who will tell other people to NOT use your product, a passive person will not say anything and a promoter is someone who will promote your product actively
03:58 – Hiten’s workshop got an NPS of 88 compared to Apple’s 89 and Tesla’s 93
04:19 – Hiten is planning to beat his score in his next workshop
04:40 – Hiten loves doing using a NPS because it’s a simple metric that is informative
04:55 – Aside from having the score, what’s really powerful is the next question you can ask – What’s the most important reason for your score?
05:22 – Look at the patterns between the various responses of those in the three buckets and then make it better
06:13 – Steli says the NPS is very simple to do and is widely used; it is a benchmark for certain industries
06:40 – Hiten is currently doing research in the online document space—he asked for the NPS and follow-up question for Google Docs, Dropbox, Microsoft Word and a few others
07:15 – Steli says he has never heard of somebody doing a survey for someone else’s products
07:36 – Steli says he thought the NPS could only be used for their core product
08:37 – What Hiten wanted to do was gauge the success of his workshop and open his mind for different ways NPS could be used
09:41 – Hiten says at the end of every experience, it’s a great to hear the answers of the passives and detractors
10:03 – The goal is to get more people to be promoters
11:03 – Hiten says what is more important than getting a score is knowing WHY, that’s why it’s important to ask the follow-up question
11:49 – The biggest mistake people make is that they don’t ask the 2 questions together
12:01 – Hiten says it’s about how you can improve your own product by gauging your customer’s experience
12:33 – Hiten says to not ask the same people to do the NPS again and again
13:15 – You can ask people at certain points in their experience, like after a workshop or a few weeks in using a product
14:03 – Hiten says the NPS is a problem-solving tool and a learning tool; not just a score
14:19 – Steli says Hiten’s transparency in regards to how he is building his new company is valuable for everyone
14:55 – Join Hiten’s newsletter list to get value every week at producthabits.com, you can also get a free ebook when you sign up
15:24 – Hiten sends 10 links about business and product development every week as well...
Key points in this episode
In this episode
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