Having just bought something on Folksy I noticed you are using net promoter score. Is there somewhere we can see the ongoing comparison of the results? I’d be interested to see how we’re doing!?
Could you please explain what this means, Helen?
I have no idea what it means either!
Thank goodness for that, I thought it was just me!
I just googled it and found http://www.netpromoter.com/why-net-promoter/know (in a nutshell its how likely are users to recommend folksy to friends and reuse the site)
I’m definately interested to find out how we’re doing given the other comparable but much better known websites that are out there.
We use a system called Satalytics to enable buyers to tell us how they find their experience. Industry folk dub the data “Net Promoter Scores” as they provide a metric for how people like or dislike their experiece. If they like it you can then prompt them to share their happiness and if they don’t you can ask them why - and if it’s an issue then try and fix it.
Our Net Promoter Score in the last 7 days is 74.47 or 75%. That means people give us 7-8 out of 10 on average in terms of experience. 8-10 is very good / excellent.
Does that help?
So shoppers are generally happy with the functionality/ usability of the site and would probably recommend us (I guess that would depend a bit of the performance of the seller so we have to do our bit to keep them happy and coming back as well). Which leads on to - are you seeing increased numbers of visitors to the site? and what proportion of them are new vs returning?
And finally at Christmas you were looking into ways to improve the bounce rate - any feedback on how that went?
Goodness… my understanding of the NPS was that anything over 30 was Good, and over 50 would be excellent. 75 would be astonishing!
@sashagarrett Yes, people seem generally positive about the experience they are having. The Satalytics service is obviously useful for understanding general experience, but we’ve found it particularly useful in picking out issues for example, basket on mobile view not being clear. In terms of sessions, views etc. I’ll be blogging about this later in the week - as part of a regular “this is what we’ve been up to and this is what we have planned in” piece. However, whilst some metrics have improved - bounce rate is 15% better than before Christmas and the average order value is also slightly higher - other metrics show a more competitive landscape with sessions to the site slightly down on the same period last year (but we’ve changed the way we calculate visitor numbers / sessions from 12mths ago - the forum for example is not included). We had 400,000 sessions in the last 30 days which is about 10% less than last year - but this marks a trend we’re seeing which is more returning users, spending more. The proportion of new vs returning is 45% (new) vs 55% (returning). Providing cost effective ways to attract new users and converting them into returning users is key for us. Hope this helps.
@helencliffordart The score we get from Satalytics may not be comparable to other net promoter scores but, yes it seems good. The score has been around 75% since we started using Satalytics which also shows we’re being consistently good, though there is room for improvement!
Thank you @JamesB James, for explaining all this - it’s really interesting! Can Folksy keep us updated about this stuff, please - it would be nice to know how the site (and sellers) is doing?