Understanding NPS & its impact on tenant satisfaction

Understanding your tenants' satisfaction is key to maintaining a thriving building environment.

One of the most effective tools at your disposal is the Net Promoter Score (NPS). But what exactly is an NPS question, and how can you leverage it within your building's information app to gather valuable feedback?

What is an NPS Question?
NPS is a simple yet powerful tool that measures tenant loyalty and satisfaction. It involves asking tenants a single question: "How likely are you to recommend our building to a colleague or friend?" Tenants respond on a scale of 0 (Not at all likely) to 10 (Extremely likely). This response helps you gauge overall satisfaction and predict tenant retention.

Why use NPS?
The beauty of NPS lies in its simplicity. With just one question, you can quickly assess tenant sentiment and identify areas for improvement. Tenants who score 9 or 10 are considered Promoters—they're likely to renew leases and refer others. Scores of 7 or 8 indicate Passives—tenants who are satisfied but not enthusiastic. Scores of 0 to 6 are Detractors—tenants who may be at risk of leaving.

By regularly collecting NPS data, you can track changes in tenant satisfaction over time and take proactive steps to address concerns before they become bigger issues.

The NPS score is also widely used across the industry, allowing you to benchmark your results with ease.

Why it matters
Running a single NPS question on your building’s information app allows you to continuously collect data without overwhelming your tenants. The insights gained from these responses can inform your decision-making, helping you to improve tenant satisfaction and retention.

Incorporating NPS into your tenant engagement strategy ensures that you're always in tune with your tenants' needs and can make adjustments that keep them happy, loyal, and likely to recommend your building.