Why Your Construction Data Provider Should Have a Glowing Net Promoter® (NPS) Score
Do you need accurate construction project leads to grow your business?
Many building product manufacturing firms and others are realizing the power of accurate construction data in helping them find the right direct sales opportunities.
But with so many firms offering construction data, it’s often hard to choose the right one.
Enter the NPS, or Net Promoter Score.
What is the Net Promoter Score?
The Net Promoter Score represents the customers that are not just happy with a given product or service, but SO happy that they would promote that business to friends and colleagues.
Essentially, this is a measurement of brand loyalty. And loyal customers are a good thing.
At BuildCentral we’re proud that all of our NPS scores are in the Great and Excellent range.
How is the Net Promoter Score calculated?
To calculate an NP score, customers are asked, “How likely are you to recommend us to a colleague on a scale of 0-10 with 10 being the highest and 0 being the lowest?”
The answers are then categorized into 3 buckets:
Promoters – Customers who answer the question with 9-10
Passives – Customers who answer the question with 7-8
Detractors – Customers who answer the question with 0-6
To calculate the score we simply subtract the Detractor score from the Promoter score.
So, if the survey yielded 100 responses and:
10 responses were in the 0-6 range (Detractors)
20 were in the 7-8 range (Passives)
and 70 were in the 9-10 range (Promoters)
the percentage for each bucket is 10%, 20% and 70% respectively.
Subtract the 10% Detractors from the 70% Promoters and that is 60%. The Net Promoter Score will be represented as a simple integer, or 60 in our case.
What’s a “Good” Net Promoter Score?
To understand what the score means consider this simple breakdown:
Net Promoter Scale
Below 0 = Needs improvement
0-30 = Good
31-70 = Great
71-100 = Excellent
BuildCentral is proud that not only are all of our premium products in the Great to Excellent range, this is a huge improvement over the past few years!
HotelMarketData.com was 41 and now is 71 (Excellent)
MedicalConstructionData.com was 30 and now is 52 (Great)
MultiFamilyData.com was 24 and is now 57 (Great).
Our flagship product, ConstructionWire.com, has a Net Promoter Score of 42 which falls within the GREAT range as well.
How to Find a Data Vendor’s NPS Score
To find a data vendor’s NPS score, you have a few options:
1.Search for it on their company website. They may have posted it in a blog or on their resources page.
2.Do a quick Google search. Perhaps it was mentioned in a press release or in a document not currently featured on their website.
3.Ask the sales/marketing teams you are working with. If they don’t know what a Net Promoter Score is or don’t have one available to share with you, those are red flags.
A good company should care about customer sentiment and be keen to measure and improve it. If they don’t, it’s time to consider other options when choosing a data provider.
At BuildCentral our clients are seeing better results than ever, with product and feature updates continually adding to the accuracy and usefulness of our data.
As our products have improved over time, so has our customers’ level of satisfaction.
When you shop for great or excellent project leads, make sure you know the NPS scores of your vendor, or you risk wasting time and money on tools that don’t help you grow your business.
Want to see what all the fuss is about?
Sell better, faster, by calling BuildCentral at 866-316-5300 or sign up for a free trial today.
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