With decades of experience helping mechanical equipment manufacturers solve for their sales and quoting challenges across the lead-to-order process with our Intelligent Front Office solution, we are familiar with the questions and hang-ups decision-makers face when selecting which vendors to partner with for their Selector, Configurator, Pricing, and Quoting (SCPQ) tools.
- IT says we should go with our ERP provider’s solution, but what they showed is underwhelming.
- There’s feature parity and the costs are close, so how do I know I’m making the right choice?
- A lot is riding on this initiative and if it fails, my name, and our company’s reputation is going to be attached to it.
- I guess no one ever got fired for choosing one of the big horizontal vendors, right...?
As a software vendor serving mechanical equipment manufacturers for 30+ years, we’re also familiar with the numerous proof points marketing teams and sales reps offer to prospective buyers:
- Check out this case study showing how our solution helped our customer achieve HUGE ROI.
- Let’s take your numbers and plug them into our ROI calculator to see what we can do for you.
- We would love to put you in touch with a couple customer references.
- Check out this Gartner or Forrester report we’re featured in.
First, let’s be clear that there's nothing wrong with any of the above. Each is intended to help you make an informed decision. But we all know references are usually customers the vendor trusts to say the right things. And the case studies are produced by marketers with an agenda to only show the positives.
But there's another proof-point available that can help you sort through your short list and identify the vendor that is the right partner for you. It’s called Net Promoter Score or NPS.
What is Net Promoter Score or NPS?
In short, a Net Promoter Score is a metric many companies use to determine how strong their relationship is with their customers. As opposed to asking customers if they are satisfied vs. dissatisfied with their experience, NPS reflects the likelihood that a customer would recommend the product, service, or business to others through a series of survey questions based on a defined scale.
There are numerous benefits to companies that measure NPS, but let’s stay focused on what you’re more concerned with - how knowing a vendor’s NPS can help you.
Why NPS Matters to Manufacturers Evaluating Tech Vendors
NPS is not a substitute for resources like analyst reports, references and ROI calculators that you’ll review during the evaluation process. But it should be something you ask for and review if a vendor has it.
Why? Two reasons:
- If the vendor’s existing customers are from your industry, then a strong NPS is a good indicator the vendor delivered on their requirements and will likely be able to meet yours.
- NPS is like hearing directly from your peers. Rather than talking to one or two references, NPS is like getting the scoop from all the vendor’s existing customers, which means you can make a more informed decision.
What to do During Your Technology Vendor Evaluation
When you are evaluating technologies like Selectors, Configurators, Quoting tools, CPQ solutions and others, in addition to reviewing the potential ROI and talking to references, ask to see the vendor’s NPS. If they have it and are willing to share it, that’s a good sign they value their customers’ input.
Selecting a technology partner is a big decision with many consequences. To make a more informed, confident choice, add NPS to your list of vendor evaluation criteria.
If you’re curious about FPX’s NPS scores, just ask. We are happy to share them with you.