This week we spotlight how a trending luxury brand moved the needle with their NPS in a very short period of time.
NPS is a proven metric widely used in the industry to help measure customer advocacy and predict business growth. It’s just one of the key measures E-Score Brand offers to better understand the customer experience with your brand. As an example, here are 10 brands across a variety of categories with positive Net Promoter Scores
- To get a Net Promoter Score, brand users are asked “How likely are you to recommend this brand’s products or services to others?” on an 11-point scale from 0-Not at all likely to 10-Extremely likely. Brand users are grouped into three categories: Promoters (score of 9 or 10), Passives (score of 7 or 8), or Detractors (score of 0 to 6).
- The NPS is the percentage of brand users who are Promoters minus the percentage who are Detractors. The NPS can range from -100 to +100.
- Anything above 0 is considered a good score as you have more Promoters than Detractors. Here’s how we rank them:
- Favorable: Above 20
- Excellent: Above 50
- World Class: Above 80
Tiffany & Co. – A Trending Luxury Brand
We looked at Tiffany & Co.’s NPS between April 2021 and December 2021 to see how it changed over time and what they did that could have influenced that change.
- Tiffany & Co. saw a 13-point gain in NPS in that very short period of time. Promoters of the brand increased by double-digits largely thanks to a 10-point conversion of Passives.
- Why? During this time, fashion icons Beyonce and Jay-Z were announced as the faces for Tiffany & Co. along with a new slate of brand ambassadors: Tracee Ellis Ross, Anya Taylor-Joy, Emma Raducanu, and Rose (from Blackpink).
- Likely contributing to the jump in NPS, the luxury brand also unveiled their most expensive piece of jewelry ever (priced around $20 million) “The World’s Fair Necklace,” and released collaborations with the streetwear brand, Supreme.
Using this data, brands can help accurately evaluate marketing campaigns, product releases, or any event they wish to gather consumer insights on. The NPS shouldn’t be used in isolation though, and there are many other measures available in E-Score Brand to round out consumer sentiment. The E-Score Platform also gives you trends, endorsement scores, social media buzz, fan scores and much more based on the product.
When E-Score Brand is used with the entire E-Score Suite, you tap an unmatched resource that advertisers, brands and the creative community can use to guide their content and campaigns.
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