In the world of performing arts and live events, understanding your audience is not just a part of the job—it's the essence of success. Whether it's a breathtaking ballet, an electrifying music concert, or a captivating magic show, the ultimate goal remains the same: delivering unforgettable experiences. But how can venues and event organizers truly gauge their performance and audience satisfaction? The answer lies in a three-letter acronym: NPS or Net Promoter Score which ThunderTix measures for you with automated customer surveys sent after each event.
What is Net Promoter Score (NPS)?
Net Promoter Scores are a widely-used metric in customer experience programs. It measures the likelihood of your customers recommending your event or venue to others. The score is derived from a single, straightforward question: "On a scale of 0-10, how likely are you to recommend our event/venue to a friend or colleague?"
Respondents are categorized into Promoters (scores of 9-10), Passives (scores of 7-8), and Detractors (scores of 0-6). The Net Promoter Score is calculated by subtracting the percentage of Detractors from the percentage of Promoters. This simple metric provides profound insights into customer loyalty and satisfaction. The calculated range of scores are from a low of "-100" to a high of "+100".
What is a good score? Well, it depends on your industry, the uniqueness of your product or even your size. For example, Tesla's singularity allows it to enjoy a stellar 97 -- nearly perfect. Costco, the mega-warehouse for consumer goods, and Apple both hover around 70 each year making them market leaders in customer satisfaction.
Generally, a score above 0 is marginally good, above 30 is great, and above 50 is amazing. Rather than focus on your number at this moment, focus on improving that metric over time. How? By listening to your customers' feedback and acting on that feedback in ways that have you improving the quality of your performances, the cleanliness of your facilities, the merchandise and concessions you provide, and the helpfulness of your staff.
Let's dive into this topic to make NPS your new barometer of performance!
Why is NPS Important for Performing Arts and Live Events?
- Measuring Audience Satisfaction: Net Promoter Scores helps you understand how your audience feels about their experience. A high score indicates that your events are enjoyable and memorable, whereas a low score could point to the need to revamp events or other factors about your venue's service.
- Predicting Business Growth: A strong Net Promoter Scores is often correlated with increased ticket sales and revenue. If your attendees are likely to recommend your events, it indicates a healthy potential for organic growth through word-of-mouth. No where is NPS more evident than the sharing of your events on social media!
- Improving Event Quality: Net Promoter Scores feedback can highlight specific aspects of your events that resonate with or deter your audience. This can guide you in enhancing performances, customer service, and overall event quality.
- Benchmarking Performance: Comparing your NPS with industry standards gives you a clear picture of where you stand in the market and what you need to do to lead.
Using NPS to Enhance Your Events
- Gather Detailed Feedback: Encourage respondents to explain their scores. This qualitative feedback is invaluable in understanding the ‘why’ behind the scores.
- Focus on the Extremes: Pay special attention to the feedback from Promoters and Detractors. Replicating what delights Promoters and -- more importantly -- addressing the concerns of Detractors can significantly improve your overall score.
- Engage and Act: Show your audience that their feedback matters. Implement changes based on the insights gathered and communicate these improvements back to your audience. Make sure you recognize and empathize with your customers, and provide opportunities for them to revisit to see the changes you implemented based on their feedback.
- Continuous Monitoring: NPS is not a one-time metric. Regularly measuring it can help track progress over time and make adjustments as needed. Onward and upward is the goal in NPS tracking!
In the vibrant and dynamic world of performing arts and live events, staying in tune with your audience's needs and preferences is crucial. Net Promoter Scores offer a simple yet powerful way to capture the voice of your customers. By understanding and acting on these insights, you can elevate the experiences you offer, grow your audience base, and see a tangible impact on your ticket sales and revenue.
Remember, every point increase in your NPS is a step towards creating more memorable, enjoyable, and recommendable events. It's time to make every performance not just a show, but an experience worth sharing.