DRAFT v0.1 / FILE REF CDD/2026/UK-MID-MKT / INDEPENDENT REFERENCE - NOT M&A ADVICE
§ EXAMPLE
W1.

NPS Triangulation Worked Example

Anonymised UK mid-market CDD worked example.

§ DIRECT ANSWER

NPS Triangulation Worked Example: anonymised triangulation and what it changed at IC.

Management claimed NPS 56. The CDD team interviewed 18 customers and asked the standard 0-10 NPS question. 11 promoters, 4 passives, 3 detractors. Triangulated NPS: ((11-3)/18) x 100 = 44. Delta of 12 points was the second-largest red flag in the risk register.

§ 1.1Why the delta mattered

Sponsor IC was anchored on NPS 56 in the heads of terms. A 12-point swing on a customer-quality claim went straight to chapter VI as an amber, and to the IC slide as a thesis caveat.

§ 1.2Sample size defence

18 interviews on a 47-customer base is 38% coverage. IC accepted it; chair noted the chapter footnote.

VERIFIED 21 JUN 2026NEXT REVIEW 21 SEP 2026SRC: ICAEW CF; BVCA Industry Activity 2025-26

Marked-up by Oliver Wakefield-Smith. Draft v0.1, 21 June 2026.