Podcasts about net promoter system

Fred Reichheld is an expert on customer loyalty and a legend in the world of customer experience management.  He and his "co-pilot" Rob Markey, created Net Promoter System, arguably one of the most used loyalty metrics in the world. He shared so many gems in our conversation that I decided to produce this edited version as a sort of "greatest hits" episode. In this episode: Why did Fred feel a sense of urgency to write his book, "Winning on Purpose"? Fred shares a personal story about receiving a cancer diagnosis, which spurred him to focus on writing the book to correct misconceptions and realign the philosophy behind Net Promoter Score (NPS) and customer experience with genuine customer love and improvement. What is the core message of "Winning on Purpose"? Fred emphasizes that the central message is that customer love and referrals should be at the core of a business's purpose. Companies need to prioritize customer satisfaction and loyalty over other metrics to achieve true, sustainable success. They key metric that most companies don't measure but should be Fred discusses the importance of tracking and measuring customer referrals to drive business growth. What is the "earned growth" model and why is it important? Fred introduces the concept of "earned growth," which focuses on measuring how much business growth comes from returning customers and referrals.   

In this episode with Rob Markey, we will discuss valuing and measuring customer loyalty. Rob highlights the gap between executives' intentions to prioritize customers and their actual practices, noting that only 8% of customers believe they receive exceptional experiences, despite 80% of executives thinking so. Rob discusses the need for companies to measure and manage customer lifetime value, using tools like Net Promoter Scores and customer segmentation. He also discusses the challenges of implementing customer-centric strategies, the importance of relationship recovery, and the role of leadership in driving these changes.   Rob Markey is a partner and director at Bain & Company and the founder of the firm's Global Customer Strategy and Marketing practice. He is a co-author of The Ultimate Question 2.0 and is the host of the Net Promoter System podcast. He is based in New York.   Here are some free gifts for you: Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach   McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf   Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo  

Business is not just about making money. Business owners, especially those starting out, should have a clearly stated purpose or the essence of the organization. More than the numbers and figures, businesses exist to provide value to their customers.  Likewise, customers recognize value when you provide them with products and services worth their time, effort, and money. Most of them, if not all, crave a personalized experience and want to feel cared for.  Fred Reichheld, also known as the “high priest” of loyalty and the creator of the Net Promoter System℠ (NPS®), joins us on the Greatness Machine to talk about customer loyalty and his book, Winning on Purpose. In this episode, Darius and Fred discuss what great leadership looks like, the key driver of customer loyalty, and the ways to enrich the lives of other people. They also talk about NPS and eNPS and how these things work and help businesses measure the quality of their customer service. Topics include: What is the one key driver of customer loyalty Definition of Net Promoter System℠ (NPS®) and how it works Fred explains the NPS rating scale Verbal NPS versus digital NPS NPS versus eNPS What makes a great leader And other topics… Resources mentioned: Winning on Purpose: https://www.amazon.com/Winning-Purpose-Unbeatable-Strategy-Customers/dp/1647821789 Good to Great: https://www.amazon.com/Good-Great-Some-Companies-Others/dp/0066620996  Connect with Fred: Website: https://www.netpromotersystem.com/  LinkedIn: https://www.linkedin.com/in/fredreichheld/  Connect with Darius: Website: https://therealdarius.com/ Linkedin: https://www.linkedin.com/in/dariusmirshahzadeh/ Instagram: https://www.instagram.com/imthedarius/ YouTube: https://therealdarius.com/youtube Book: The Core Value Equation https://www.amazon.com/Core-Value-Equation-Framework-Limitless/dp/1544506708 Learn more about your ad choices. Visit megaphone.fm/adchoices

Join host Jeff Dudan as he welcomes Fred Reichheld on today's episode. Fred, recognized as the godfather of the Net Promoter Score (NPS), discusses his pivotal role in reshaping customer relationship management. This episode dives into Fred's insights on enhancing customer satisfaction and building long-term loyalty. Want to own your own business? Take our business ownership quiz: https://podcast.homefrontbrands.com/en-us/business-ownership-quiz?hs_preview=UuqYSzMR-159529547022For your FREE Discernment eBook: https://podcast.homefrontbrands.com/en-us/discernmentJoin our Exclusive Facebook Group: https://www.facebook.com/groups/1442332473300030/ Visit our Instagram: https://www.instagram.com/thehomefrontpod/Tune in on YouTube: https://www.youtube.com/@thehomefrontpod?sub_confirmation=1Join and be a part of On The Homefront: https://linktr.ee/homefrontpodcastConnect with Jeff Dudan: https://www.linkedin.com/in/jeffdudan Connect with Fred: https://www.linkedin.com/in/fredreichheld/For more on the Net Promoter System: https://www.netpromotersystem.com/Order Fred's Book, ‘Winning on Purpose': https://www.netpromotersystem.com/books/winning-on-purpose/

Join host Jeff Dudan as he welcomes Fred Reichheld on today's episode. Fred, recognized as the godfather of the Net Promoter Score (NPS), discusses his pivotal role in reshaping customer relationship management. This episode dives into Fred's insights on enhancing customer satisfaction and building long-term loyalty. Want to own your own business? Take our business ownership quiz: https://podcast.homefrontbrands.com/en-us/business-ownership-quiz?hs_preview=UuqYSzMR-159529547022For your FREE Discernment eBook: https://podcast.homefrontbrands.com/en-us/discernmentJoin our Exclusive Facebook Group: https://www.facebook.com/groups/1442332473300030/ Visit our Instagram: https://www.instagram.com/thehomefrontpod/Tune in on YouTube: https://www.youtube.com/@thehomefrontpod?sub_confirmation=1Join and be a part of On The Homefront: https://linktr.ee/homefrontpodcastConnect with Jeff Dudan: https://www.linkedin.com/in/jeffdudan Connect with Fred: https://www.linkedin.com/in/fredreichheld/For more on the Net Promoter System: https://www.netpromotersystem.com/Order Fred's Book, ‘Winning on Purpose': https://www.netpromotersystem.com/books/winning-on-purpose/

Gem Pasant (https://www.linkedin.com/in/gem-jp/) has over 15 years' experience in Customer Leader roles in a range of organizations from start up to large corporate, typically in the insurance sector. Gem's biggest area of interest is Customer Experience as culture—specifically how this links to company purpose, employee experience and sustainable growth through the practical application of the Net Promoter System. Transcript Mark Reed-Edwards: Welcome to this special episode of Confessions of a Marketer. I'm Mark Reed Edwards. We're back with this mini series of shows I've dubbed the Talent Showcase. These episodes will focus on people in marketing, communications, PR, and allied fields who are looking for their next opportunity. My guests will share their stories, successes, and how they can help their next employer or client. Today, I'm joined by Gem Passant. Gem has over 15 years experience in customer leader roles in a range of organizations, from startup to large corporate, typically in the insurance sector. Gem's biggest area of interest is customer experience as culture, specifically how this links to company purpose, employee experience, and sustainable growth through the practical application of the Net Promoter System. Gem, welcome. Gem Passant: Thanks for having me. It's great to be here. Mark: It's wonderful to have you on the show. So can you tell me about yourself, your background, and career path? Gem: Yeah, sure. So I actually started out in human resources. I read archaeology at university with some anthropology and got really into human behavior and thought human resources is the way for me to go. And then got onto a graduate scheme. So that's what we call in the UK, would maybe be a postgraduate scheme in the US, basically working for an employer on a fast track scheme for a large insurance company in the UK called Aviva. And I planned to stay in that field and not long in realized that I actually didn't understand my customers enough, which was the internal customers of the organization. And the only way to do a good job working in HR was to go and experience what they were experiencing and work in the business itself. And so I was looking for a change, I asked for a change, and was invited to apply to be Chief of Staff to the Chief Operations Officer for the UK business, which was a great role, a super fast track learning, if anyone's ever done Chief of Staff they'll know. And that gave me an opportunity to really learn and understand the business cause I was right in the thick of it and look for what my next opportunity would be. And there was an area that had been unloved for some while, which was the customer experience function. That was back then not called CX, which is what we tend to call it now. It was quite early days for having a customer experience function. And it had been run by somebody for a long time who'd moved into a different role and then there'd just been an absence of leadership for a while. So I took that role and changed quite a few things within the team and propelled it into a new stage of growth, I guess you could say. But stayed there for four years, absolutely adored that role. I was then asked to do various other things, I think that's what happens when you work in a large organization and you're known to be flexible. So I went on to do all sorts of other things, from head of internal comms, to more chief of staff roles, to running large billion pound transformation programs in the program office. But I then decided to have a break from all of that and retrained as a neuro linguistic programming coach. So I quit that role--quit Aviva--and went and lived in Thailand, which is where I met my now husband. That's a different story for a different podcast probably. And then I came back and did some more customer experience stuff for another insurer, a slightly smaller one called Liverpool Victoria here in the UK. And then I went back to Thailand. My husband and I decided that we were going to move back to Thailand together, because in the interim he'd gone to live in San Francisco. So we made a home together in Thailand, and that was a really interesting period of time because it included COVID. And so I did some consultancy work when I was there, but probably the most interesting thing I did was that the British Consul actually asked me to coordinate the community response for all of the Western Consulates for the, the Western communities in Chiang Mai--lots of older people, lots of retired people, lots of people who it was hard to reach out to, who they were genuinely really worried about health wise. So that was a thing that kept me really busy and active in my kind of final months in Thailand. And then my husband and I decided to move back to the UK at the request of my parents, to to live near them. And I got my most recent permanent role, which was back again in Customer Experience as Global Customer Experience Lead for Many Pets, which was another insurance company, but this time pet insurance and a start up/ scale up. And then I left there almost a year ago now, and I've been self employed doing CX consultancy and short contracts since then. Mark: Wow. Customer experience is just fascinating having worked in marketing pretty much my entire career, certainly the last 30 plus years, it's embedded in everything we do in marketing and we didn't even realize it. So, it's great to hear your perspective. Gem: Yeah. Thanks. Mark: So, what is one of your most important career accomplishments? Gem: The things I feel strongest about are the things that often don't have the greatest data points attached. And that's all the leadership stuff. So it's building teams, not just that are high performing, but that genuinely care about each other and act like a team and support each other and deliver phenomenal outcomes. So I feel like I'd be remiss if I didn't say anything I talk about in career outcomes is always because of a phenomenal team that has worked with me or around me. But I guess the things that have the tangibility to them --a really good example, it's a, it's a little bit of an older example now, but it was a, a huge success at the time-- which was when I worked at Aviva in the head of customer experience role. Me and my team implemented Net Promoter Score, which most people will know about now, but back then was quite an early use of that metric, to understand how our customers were feeling about their experiences with us. And Net Promoter Score, for anybody who doesn't know, has a range of minus 100 to plus 100 as a score. Financial services typically would hover, at that time, around the zero. The benchmark overall is a bit higher these days, but around that time. So we implemented it across the board and we discovered that in some of our contact centers, the ones that were doing the sales and the servicing, the initial scores were holding steady at minus 37 from launch and a few months in they were still there. And so we dug into that information and tried to work out what was going on. And ultimately it was all to do with the types of calls being handled, where they were handled, by whom they were handled and with what kind of experience those people had. And what we recognized was that actually we needed to move work around and we needed to train people differently and we needed to move some of the work that was being handled offshore back onshore. Some of the work that was being handled in the UK actually would be better handled by our Indian colleagues. And so by understanding what skill sets people had, what they preferred to do, and the types of training that they took to best, we were able to move work around so that actually everybody was playing to their strengths, and that really came across in the customer experience. And we did all of that in less than a year, and the Net Promoter Score went to plus 12 from minus 37 in a period of just over, uh, six months. Which is a huge change and if anybody's ever tried to shift a Net Promoter Score before, you will know that typically you can move it a couple of points by tweaking around the edges. To move it so strongly, you need to do something quite radical. But we did that by listening to what our customers were telling us about the experience that we were giving them. And, not that they knew what the answer was, but we worked out what we thought an answer could be. And of course the teams went on to do more after that and continued to improve it. But I think for me that's always been a really powerful example of how when you listen to your customers --and by the way, your employees, because everything they were telling us was very similar to what the customers were telling us-- that's how you can really shift the experience that both your customers and your employees are having. Mark: So what do you think you can offer your next employer or client? Gem: Interesting. I think it's sometimes a challenge when you have quite a broad brush background because you don't always know what it is because often it's things that people perceive in you rather than you know about yourself. And what I mean by that is I don't know that it's always the technical stuff. So what I've learned about myself in this last year or so of being self employed is that actually the things that I offer that are my strengths are Looking at really complex problems and being able to see through them quite quickly and then taking customer data, employee data and other kinds of data and problem solving. That doesn't sound like a pure customer experience type of behavior, and it's not. It comes from understanding my HR background, my operational background, my program management background. But pulling all that together to understand what is in the best interest of an organization commercially and for their customers and for their employees. That, for me, I think I've worked out is my sweet spot, being able to look at all three of those areas together and get them to play nicely together to do something that's for the good of all. Mark: Gem, I really appreciate you sharing your story. It was fascinating to hear. And I really hope this helps you find great gigs. Gem: Thanks very much for asking me. Mark: I'm Mark Reed Edwards. Join me on the next Confessions of a Marketer.

Fred Reichheld is the creator of the Net Promoter System. NPS practitioners include the likes of Apple, Schwab, American Express, and Intuit. The Net Promoter System (NPS) helps companies become more consumer-centric and helps enrich their customers, which ultimately leads to profitable growth. Fred is a fellow at Bain & Company, a global consultancy “that helps the world's most ambitious changemakers define the future.” As a Bain Fellow, Fred is the founder of their Loyalty practice, which helps companies achieve results through customer and employee loyalty. With years of experience on his resume, listen in as Fred provides insights on growing your business.   Links: Fred's LinkedIn: https://www.linkedin.com/in/fredreichheld/ Net Promoter System: https://www.netpromotersystem.com/  

How do the needs of students at for-profit, mostly online colleges differ from those of typical college students? They often require financial aid, schedule flexibility, and academic support that can go far beyond the norm of traditional higher education. In this segment, we explore why graduation rates have traditionally been quite low at these colleges due to all the challenges students face. How do schools like this strike an appropriate balance of flexibility, support, and rigorous academic programs that will help their students succeed in the workforce? Ruth Veloria is the chief strategy officer and customer officer at the University of Phoenix. She is on a mission to help more of the school's students successfully overcome challenges so they can complete their studies and reap the rewards of their education. Ruth and the team at University of Phoenix have spent over a decade working to improve student retention and success rates. In this episode, roughly a decade after Ruth first joined Rob on the podcast, she shares how the University of Phoenix has achieved a remarkable increase in student retention rates, from 64% to 74%. They now graduate over a third more students than they did 10 years ago. Ruth discusses how the Net Promoter System helped fuel the university's deep commitment to learning from and acting on student feedback. She describes academic policies that are empathetic versus unempathetic, and how data analysis and feedback have been used to enhance student experience and to support policy and process change. Episode Highlights Overview of a subscription-like model for student enrollment [03:15] Transition of Ruth from the School of Business to strategy and customer experience leadership [07:10] Approaches to student retention and success [11:45] Utilizing data analytics and technology to improve student outcomes [16:25] Adapting to Covid-19: Impact on student experience and education delivery [20:55] Insights into student acquisition costs and orientation processes [25:30] Reflections on the implementation and evolution of the Net Promoter System [30:15] Ruth's advice for educational transformation and future goals [35:00] Quotable Quotes: “We went from a 59 Net Promoter Score up to a 73 Net Promoter Score.” [16:33] “We created a lot of entrepreneurs. We got a lot of people excited about changes they could make in the student experience.” [24:19] “We actually set up a pilot team that was using a business leader and tech leader to come together to fix application problems. In fact, we still have that today.” [25:06] Guest: Ruth Veloria, chief strategy officer and customer officer, University of Phoenix Host: Rob Markey Get in touch: Send us your podcast feedback here. Send Rob a note here.

In this episode of the CX, AI, and Outsourcing podcast, host John Walter talks with Amitayu Basu, co-founder and CEO of NUMR. The discussion delves into measuring customer loyalty in the era of big data and AI. Amitayu shares insights on customer emotions' impact on loyalty, the significance of the Net Promoter System, and NUMR's role in advancing customer experience analytics. They explore the evolution of customer feedback methods, transitioning from surveys to AI-driven conversations, and how NUMR leverages operational data for proactive customer support. Additional Resources:Connect with Amitayu Basu on LinkedIn: https://www.linkedin.com/in/amitayubasu/Learn more about NUMR: https://www.numrcxm.com/contact-us Connect with John Walter on LinkedIn: https://www.linkedin.com/in/jowalter/

From reshaping the playful culture of the LEGO Group to cracking the customer-centricity code in the financial services behemoth Zurich Insurance, how did Conny Kalcher manage the leap? Conny Kalcher, the group chief customer officer at Zurich Insurance, is no stranger to pioneering customer-centric transformations. After retiring from a highly successful career at the LEGO Group, where she spearheaded a customer-centric transformation, Conny brought a wave of fresh perspectives and techniques to the traditionally conservative landscape of Zurich Insurance. Her global influence extends beyond corporate corridors, marked by her active membership in Bain's NPS Loyalty Forum where she contributes to the ongoing Net Promoter System revolution. As context to today's discussion, you may want to revisit the LEGO story she shared with host Rob Markey several years ago in podcast episode 55, Brick by Brick: Rebuilding the LEGO Group by Rediscovering Customer Centricity. In this episode, Rob sits down with Conny Kalcher—a trailblazer in customer-centric transformations—to explore her extraordinary transition from the whimsical world of LEGO to the structured realm of Zurich Insurance. Conny's approach to customer engagement transcends industry boundaries. She brings lessons developed in the playful, informal culture of the LEGO Group into a global insurance behemoth, drawing parallels and contrasts between her experiences. Conny's anecdotes reveal that the principles of understanding and catering to customer needs are universal, whether you're dealing with brick toys or insurance policies written in complex legalese. As Conny reminisces about her time in the toy industry, she sheds light on how the lessons learned during her tenure at the LEGO Group acted as a catalyst for nurturing a customer-first culture at Zurich Insurance. It illustrates how a keen understanding of customer sentiments can be a game-changer in any industry. Topics covered: Transition from the LEGO Group to Zurich Insurance [02:20] Customer-centric transformation [04:00] Corporate strategy and vision [06:50] Metric implementation (NPS) [07:07] Decentralized vs. centralized organizational structures [11:00] Earning customer loyalty [24:30] Quotable quotes: "Anybody who needs to change something I would definitely advise to also think about, 'How can we do processes, structures, ways of working to make people naturally change,' because people want to do the right thing, basically." [01:45] "We've defined our strategy for this strategic cycle to become the preferred insurer of our customers. So, it's all about earning the loyalty of those customers." [27:15] "My proudest moment in the Zurich [Insurance] journey is when I go to the local offices and I talk to the people there and I see the fire in their eyes, and I see the new brand on the walls, and they talk in a new kind of language that they didn't use to talk in." [32:37] Additional resources: Zurich Insurance's long-term strategy and near-term targets Episode 55 of Customer Confidential Podcast: Brick by Brick: Rebuilding the LEGO Group by Rediscovering Customer Centricity Net Promoter System overview Insurance industry reports by Bain & Company Bios: Conny Kalcher, group chief customer officer at Zurich Insurance Rob Markey

Most companies don't suffer from a lack of data.They struggle getting the right data and to know specifically what changes they need to prioritize.The key is know what levers to pull and exactly how far to pull themJason's work with NPS Prism is nothing short of game changing.In this episode of the Delighted Customers Podcast we explore:The risks of digitizing everythingThe discrepancy between a company's internal measures of success and customer perceptionThe dangers of buying share through discountingThe importance of competitive benchmarking The risks and challenges of digitization: when human touch is non-negotiableHow NPS Prism was created and how it helps companies improve customer experiences Meet JasonJason Barro is a leader in Bain's Customer Strategy & Marketing practice, specializing in the Net Promoter System® and customer-driven transformations. He is also the lead partner and founder of NPS Prism, Bain's customer experience benchmarking service that provides actionable insights to grow loyalty and sales.He has more than 14 years of consulting experience with Bain.Jason has extensive experience leading customer transformations across a wide range of industries, including media, cable, retail, banking, credit cards, restaurants and healthcare. He has advised both business-to-consumer and business-to business companies.Prior to joining Bain in 2004, Jason was an assistant professor of business administration at Harvard Business School from 1999-2004, where he performed research and taught courses on microeconomics, corporate governance and health economics. Jason earned his PhD, Masters and Bachelor of Arts degrees in economics from Harvard University.Connect with Jason: https://www.linkedin.com/in/jason-barro-b25a8a/Subscribe to The Delighted Customer Podcast so you don't miss an episode: https://www.empoweredcx.com/podcast Subscribe to The Delighted Customer Newsletter for practical tips and insights: https://www.empoweredcx.com/delightedcustomersnewsletter

Key insights from Fred Reichheld, a legend of the industry. As the creator of the “Net Promoter System”, Fred Reichheld is a true legend in the loyalty industry. His career spans 44 years as a consultant, author of four best-selling books and an internationally-renowned speaker on loyalty. Tom Peace, from The Loyalty People, shares his thoughts on Fred's latest book called “Winning On Purpose – The Unbeatable Strategy of Loving Customers” – which features some profound new ideas on the very fundamentals of how we do business. Hosted by Tom Peace Show Notes : 1) Fred Reichheld 2) Tom Peace 3) Loyalty People 4) #167:Fred Reichheld - Loyalty Industry Legend - Launches "Winning On Purpose - the Unbeatable Strategy of Loving Customers" 5) "Winning on Purpose: The Unbeatable Strategy of Loving Customers"

Part 2 of 2Predictive NPS - How Loyalty Measurement is Changing with Rob MarkeyA powerful, insightful, revealing interview so packed with gems that I had to break it into two parts!Rob Markey is the Co-Inventor of the Net Promoter System and the Co-Author of The Ultimate Question 2.0.In Part 2 (this episode):We discuss:Rob's definition of customer experienceThe impact of digital transformation on CXWhy and how NPS will still play a role despite the emergence of technologyThe evolution of NPS in a digital worldIs it moral and ethical to treat every customer the same? (hint - his answer may surprise you!)Rob Markey BioHas led dozens of successful customer-centric transformations at large, global companies​Creator of Bain's approach to customer-centricity​ Introduced Earned Growth through Customer Value Management in “Are You Undervaluing Your Customers,” Harvard Business Review, Jan-Feb 2020​ Co-inventor of the Net Promoter System; co-author The Ultimate Question 2.0; Leader of Bain's NPS Loyalty Forum​Founder of Bain's Customer Strategy and Marketing practice​30+ years at Bain​MBA, Harvard; BA, Brown​ Ran 7 marathons and aspires to complete all the world majors by 2024And by the way, happens to host his own podcast, The Net Promoter System PodcastSubscribe to The Delighted Customer Podcast so you don't miss an episode: https://www.empoweredcx.com/podcast Subscribe to The Delighted Customer Newsletter for practical tips and insights: https://www.empoweredcx.com/delightedcustomersnewsletter

Rob Markey on the Delighted Customers Podcast Part 1 of 2What would you expect from one of the top CX thought leaders in the world?A powerful, insightful, revealing interview so packed with gems that I had to break it into two parts!Rob Markey is the Co-Inventor of the Net Promoter System and the Co-Author of The Ultimate Question 2.0.In Part 1 (this episode):We discuss:Loyalty levers to pull in a down economyHow loyalty leaders can excel in a recessionWhy Rob initially rejected a single question to measure customer loyalty?This misinterpretation of Net Promoter ScoreWhy that one question was selected as the right question to measure customer loyaltyRob Markey BioHas led dozens of successful customer-centric transformations at large, global companies​Creator of Bain's approach to customer-centricity​ Introduced Earned Growth through Customer Value Management in “Are You Undervaluing Your Customers,” Harvard Business Review, Jan-Feb 2020​ Co-inventor of the Net Promoter System; co-author The Ultimate Question 2.0; Leader of Bain's NPS Loyalty Forum​Founder of Bain's Customer Strategy and Marketing practice​30+ years at Bain​MBA, Harvard; BA, Brown​ Ran 7 marathons and aspires to complete all the world majors by 2024And by the way, happens to host his own podcast, The Net Promoter System Podcast

Today we are featuring Fred Reichheld. Named by The Economist as the "high priest" of loyalty, Fred is the creator of the Net Promoter Score (NPS). More than two-thirds of Fortune 1000 companies have reportedly used the Net Promoter Score to measure customer experience including household names like Apple, Netflix, and Disney. According to Fred, however, the vast majority of companies are using it wrong. Today, Fred shares what businesses can do differently to create a truly successful, fulfilling, and energized organization that prioritizes its customers and energizes its employees.In this episode, Dart and Fred talk about viewing a company's progress through the experience of its customers. They discuss why Fred believes organizations are built to love customers and enrich their lives, while leaders are meant to respect and recognize their employees. Fred also speaks about the importance of maximizing value in a business by creating value for its customers. Topics Include:- Mistakes companies make when measuring progress- The ideas behind Fred's new book, Winning on Purpose- How to use emotional relationships to propel your business- Why Fred hopes "earned growth" will replace NPS- What creates energized employees- How to track net revenue retention- The best way to increase a company's value - And other topics…Fred Reichheld is the creator of the Net Promoter Score and pioneer of the loyalty business model. His work guides two-thirds of Fortune 1000 companies that use the Net Promoter Score to outline their customer success.Fred is a New York Times best-selling author. As a Harvard alum, he also shares his knowledge through eight Harvard Business Review articles. He is a current Fellow at Bain & Company and has previously been named one of the top 25 consultants in the world by Consulting Magazine. His work has been covered by publications like The Wall Street Journal, New York Times, Fortune, Business Week, The Economist, and more. Fred's groundbreaking concepts of “customer loyalty” and “Earned Growth Rate” have allowed him to restructure outdated business models. His teachings promote customer retention, repetition, and referrals spanning different industries. He continues to research, write, and speak about these topics across the country.Resources Mentioned:Winning on Purpose, by Fred Reichheld: https://www.amazon.com/Winning-Purpose-Unbeatable-Strategy-Customers/dp/1647821789/Fred Reichheld's LinkedIn: https://www.linkedin.com/in/fredreichheld Net Promoter System: netpromotersystem.com NPSx System, by Bain: https://www.npsx.com/ The Cold Start Problem, by Andrew Chen: https://www.amazon.com/The-Cold-Start-Problem/dp/B08MKNHSWC/

In this episode of Getting to Aha!, Darshan Mehta is joined by Rob Markey, Partner at Bain & Company. They discuss Rob's aha! moments, how to use the net promoter system to improve customer retention, the benefits of the net promoter system, delivering more value to your customers than your competitors, customer-centric strategies, how to satisfy customers' needs, and more.

Rob Markey is the co-creator of the now-ubiquitous Net Promoter System—borrowing from Churchill, he refers to it as “the worst customer loyalty metric, except for all the others that have been tried.” But because of his accountability to clients and colleagues, Rob has higher expectations than many: Through 30+ years at Bain he's passionately championed the sometimes-unfulfilled mission behind the system—to put the customer at the center of business decisions and operations, at scale.In his conversation with Jesse, you'll hear about how Rob found his way to consulting; what he thinks makes him an effective client advisor and leader; how he helps senior executives find their voices and have those voices heard; how he gets leadership teams to make and stick to tough decisions; the structural barriers that keep companies from achieving true customer centricity; and the innovations in technology and operating models that are helping bring down those barriers. Along the way, he tells the “in the room where it happened” origin story of NPS, and presents his hypothesis on why NPS has had such staying power over the past two decades. (2:31) Rob's first impressions of consulting, and the circumstances and realizations that brought him into the field(6:48) Rob describes his strengths and his approach to helping executives embrace customer centricity(10:28) How staying focused on a larger mission has guided his long tenure at Bain(14:15) The barriers to being customer-focused at scale, and how to overcome them (20:20) Co-creating NPS, the “acid test of loyalty” (23:50) What really makes someone a promoter, passive, or detractor?(29:24) Why NPS is still at the center of CX efforts today(35:42) Lightning Round: most memorable marathon and a brand that's delighted him without failGuest BioRob Markey is a Senior Partner at Bain & Company, where he has helped lead dozens of successful customer-centric transformations at large global companies over 30+ years at the firm. Rob leads the NPS Loyalty Forum, a group of approximately 35 senior executives from loyalty-leading companies around the world, such as The Vanguard Group, American Express, JetBlue, Telstra, TD Bank, LEGO, Progressive Insurance, PwC and Intuit. Additionally, Rob is the creator of Bain's approach to customer-centricity, the co-inventor of the Net Promoter System, and co-author of The Ultimate Question 2.0: How Net Promoter Companies Thrive in a Customer-Driven World, a New York Times and Wall Street Journal bestseller.  Helpful LinksThe Ultimate Question 2.0 Rob's Net Promoter System PodcastRob writes for HBR: Are You Undervaluing Your Customers? Qualtrics Blog: Your Ultimate Guide to Net Promoter ScoreRob on LinkedIn and Twitter

What is NPS 3? Since its introduction, in 2003, the Net Promoter System, which measures how consistently brands turn customers into advocates, has become the predominant customer success framework. But as its popularity grew, NPS started to be gamed and misused in ways that hurt its credibility. Unaudited, self-reported Net Promoter Scores undermined the usefulness of NPS. In order to address this problem, Fred Reichheld, the NPS founder has introduced a hard metric, drawn from accounting results, known as "earned growth rate" that captures the revenue growth generated by returning customers and their referrals. In this episode we discuss; The problem with NPS How NPS3 works How to calculate your earned growth rate   ----- * Do you love The Growth Whisperers and want to see our smiling faces? Subscribe to our YouTube channel. * Do you enjoy our content? Rate our show! * Follow us on Twitter @Evolution_Perth and @lawrenceandco1 Learn more about building enduring great companies. -----   ----- Links: *https://evolutionpartners.com.au/ *https://lawrenceandco.com/ ----- Additional episodes you might enjoy: # 50 Jim Collins Flywheel Concept: How to build unstoppable momentum in your company # 16 Jim Collins # 84 The 7 common strategy mistakes from Michael Porter # 43 The top 7 best practices for weekly meetings  # 69 What is a Topgrading virtual bench and why you need one # 88 The hidden cost of not having a team of all A-Players

Fred Reichheld has spent a career at Bain creating and advancing the Net Promoter Strategy at some of the world's greatest companies. And he knew it worked, not only to drive happy customers, but also outstanding financial success. In his new book, Winning on Purpose, he brings the receipts to prove it. Full of data, case studies, and practical approaches, Fred outlines the path to quote, turbocharge your loyalty growth engine using the most efficient and sustainable fuel ever invented: happy customers coming back for more and referring their friends.”

Welcome to the What's Next! podcast with Tiffani Bova. With an entertaining and inspiring mix of both personal stories and qualitative business data, our guests Darci Darnell and Maureen Burns show why all businesses should make enriching the lives of customers their primary purpose. Their book “Winning on Purpose: The Unbeatable Strategy of Loving Customers” highlights the Net Promoter 3.0 System (NPS) – which is a metric for predicting company growth and customer lifetime value – and emphasizes how the age-old Golden Rule is what ultimately lies at the heart of customer success. Darci Darnell is the head of Bain's global Sales & Marketing practice and a leader of Bain's gender parity initiatives and sits on their Global Women's Leadership Council. She holds an MBA from The Tuck School at Dartmouth College, as well as a B.S. in Business Administration, with honors, from Washington University in St. Louis. Maureen Burns is a leader in Bain's Sales & Marketing practice and works extensively with clients on topics relating to marketing excellence, the Net Promoter System, customer journey redesign, and digital transformations. Maureen earned an MBA from Harvard Business School and a bachelor's degree, with honors, from Georgetown University's School of Foreign Service.   THIS EPISODE IS PERFECT FOR… people who want to understand how to improve their business models via enriching customer experiences and sustainable growth practices.   TODAY'S MAIN MESSAGE… The primary purpose of a business should be to enrich the lives of its customers. If you can take care of your customer base, they will take care of you by providing repeat business, bringing their friends, and generating overall larger profit shares. The NPS can be used as a tool for orienting your company on the right path to align your product design with the needs of your customer base.   WHAT  I  LOVE  MOST… Both Darci and Maureen place humanity at the center of their business models, which ultimately allows them to be even more remarkable no matter what business venture they are exploring.   Running time: 30:02 Subscribe on iTunes   Find Tiffani on social: Facebook Twitter LinkedIn Instagram   Find Darci on social: Website Twitter LinkedIn   Find Maureen on social: Website LinkedIn   Darci & Maureen's Book: Winning on Purpose

It seems obvious: When customers feel loved and appreciated by a company, they stay longer, buy more, and enthusiastically return. But how do you get boards and shareholders to abandon quick profits and invest in the long-term goal of customer satisfaction? In this episode of the podcast, Fred Reichheld, a Bain fellow, creator of the Net Promoter System, and author of the new book Winning on Purpose: The Unbeatable Strategy of Loving Customers, shares how leaders should be using NPS correctly to succeed in the long run.

How loyal are your customers and employees? How likely are they to refer your organisation to their colleagues and friends? This is the basis of the Net Promoter System, a way of measuring customer retention devised by Fred Reichheld in the 1990s. Because Fred realised that if you increase customer retention, your profits will grow. Fred assumed that having discovered this and told people about it that all businesses would instantly put customers first. That what he'd come up with was a one and done thing. He hadn't realised how hard it would be to change mindset. So Fred invented the Net Promoter Score so that businesses could measure this thing that drives retention. And he found that it all boils down to one simple question - would you recommend X company to a friend or colleague?It's that simple. Yet here we are, some 20+ years later still arguing about NPS. So Fred's written another book called - Winning On Purpose, The Unbeatable Strategy Of Loving Customers (link below), and it's a more accountancy based metric i.e. earned revenue or earned growth rate. This is a truly fantastic conversation with Fred, we enjoyed it immensely, we're sure you will too. On today's podcast:The Earned Growth RateNet Promoter System Likelihood to recommendBe humble to keep customersWhy referrals are earned growthLinks:Fred ReichheldArticle: The One Number You Need to GrowTwitter – @FredReichheldLinkedIn – Fred ReichheldWebsite: https://www.netpromotersystem.com/books/winning-on-purpose

The Royal Bank of Scotland (RBS), now part of NatWest Group, is older than some of the world's countries. For much of that time, the very essence of the bank was to put its customers first. But in more recent history, the storied bank had lost sight of that mission, says Paul Smith, director of customer insights and marketing at NatWest Group. In this episode of the Net Promoter System podcast, Paul talks about the journey back: From an old-line and challenged bank into a customer-focused organization that is now part of NatWest Group.

Mark Robinson, president of UPS Capital, the financial services subsidiary of UPS, joins me to discuss how the adoption of the Net Promoter System at UPS Capital was turbocharged by Agile ways of working and how Agile teams were able to radically speed up needed fixes to the customer experience that frontline employee identified in their huddles.  

To provide perspective on the impact of Covid-19 in South America, Rob talks with Luiza Mattos, a Bain & Company partner based in São Paulo, Brazil. Luiza is one of Bain's customer experience, Net Promoter System and Results Delivery leaders, and she recently researched how consumers in South America have been spending their time since the start of the pandemic. She also discusses the strategies companies in the region are using to make sure their customers and employees feel connected and supported.

My guest today is Rob Markey, a partner and director at Bain & Company and the founder of the firm's Global Customer Strategy and Marketing practice. He is a coauthor of The Ultimate Question 2.0 and is the host of the Net Promoter System podcast. The topic is his writing Are You Undervaluing Your Customers? In this episode of Trend Following Radio we discuss: Bain & Company partner Rob Markey argues most companies are too focused on earnings at the expense of customers. Instead they should measure and report “customer value” to investors, like Costco, Amex and Humana do, with consistent metrics that allow investors and other stakeholders to judge a company's true value compared to competitors. Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

Alex Terpstra, head of innovations at ABN AMRO Bank, was born and raised for customer service. His father, a retailer in the Netherlands, never failed to remind young Alex who put food on the family's table. “Every day on our dinner table we were talking about customers.” On this episode of the Net Promoter System podcast, Alex explains how he helped ABN AMRO to launch radically new services for its customers, even at the risk of a short-term profit hit. The payoff, he says, has been highly lucrative customer relationships that pay dividends far beyond the initial costs.

A recent Wall Street Journal article ran under a catchy headline, “The Dubious Management Fad Sweeping Corporate America.” The dubious management fad, according to the article, is the Net Promoter Score. Of course, the headline bothered me and my podcast guest, Maurice FitzGerald, the former vice president of customer experience at HP. But once we read past the attention-grabbing headline, we agreed with much of what the authors had to say. They provided a sober summary of many ways a company can misinterpret or misuse the Net Promoter Score. In fact, I'd encourage NPS practitioners to ignore the headline and read the article with an eye towards all of the things you shouldn't do with the score. While NPS has gained tremendous popularity, many companies have cut corners or failed to invest in understanding the benefits of a comprehensive Net Promoter System. The article offers a jumping off point for a deeper conversation about the mistakes and errors that we wish all practitioners of the Net Promoter System would avoid, once and for all.

Razia Richter's path to the executive suite at Petco took her on a wild, winding tour of the company's operations and back-office functions, from accounting to inventory analytics to supply chain, to name a few. By the time Razia was put in charge of Petco's customer experience and the adoption of the Net Promoter System, she had personally busted through just about every organizational silo imaginable. And because she had walked in the shoes of so many of the company's line leaders, her early days as chief customer officer were marked by surprisingly little of the resistance often encountered when companies adopt the Net Promoter System. Her practical experience guided her to pursue an approach that earned the trust of business leaders and functional teams. Without that trust, many companies fail to achieve the culture change that the Net Promoter System demands. In this podcast, Razia shares just how far you can go when you have executive buy-in from the start.

Loyal listeners may recall my last conversation, with Joshua Rossman, formerly the senior director of global customer loyalty and NPS at eBay. Since that interview, Josh has left eBay and consulted with a variety of companies on using the Net Promoter System to help guide customer experience improvements. Now he's at McAfee, one of the world's largest security technology companies.  Josh has mastered the art of creating a customer feedback system that supports senior executive goal setting and decision making, while also providing the platform for frontline learning and growth. His approach gets to the very heart of why a customer becomes a promoter or a detractor in the first place. By developing a rich set of qualitative insights and combining it with the quantitative data surrounding NPS, Josh seizes the attention of executives across the organization and draws leaders into a fast-moving feedback loop with the customers.  

Host Rob Markey and Ignacio 'Nacho' Deschamps, group head of international banking and digital transformation at Scotiabank, discuss the role of the Net Promoter System in culture change. They also explore what Nacho has learned during Net Promoter System journeys at three different banks around the world, including how to survive the wait for results to catch up to investment during year two.

Like fitness or dieting, getting started with the Net Promoter System is easy in some ways. Executives are typically optimistic and excited about their fledgling program, riding the high of their early wins. And then something emerges and threatens that momentum. But like maintaining good health, the companies that stay the course learn to anticipate their customers' needs, allowing them to deepen relationships and deliver bigger financial results in the long term. That's what happened at CA Technologies. In this episode, I continue my conversation with Dayton Semerjian. He guided the enterprise software company through a Net Promoter journey that returned it to growth. In this episode, Dayton discusses the challenges he faced while bringing culture change to CA and how he overcame them.

Medical outcomes matter, but they're not the only factor in patient satisfaction. A provider's ability to communicate and express empathy are also critical to the customer experience in healthcare.  Host Rob Markey welcomes back Maurice FitzGerald, retired vice president of customer experience at HP Software and author of Net Promoter—Implement the System. Rob and Maurice discuss the unique customer experience challenges that healthcare providers and organizations face, and how the Net Promoter System can help.

Rob Markey talks to Charlie Chase, president and CEO of FirstService Brands, which provides property services such as painting, remodeling and storage design through its franchise network. Charlie started as a painting franchise owner in 1982 and went on to start CertaPro Painters, one of the company's brands.  FirstService uses the Net Promoter System to collect feedback from not only customers, but also prospects who didn't choose his company's services. This allows FirstService's leaders to identify and address weak service experiences.  

Year Up has helped thousands of young adults leave minimum wage jobs and forge meaningful careers. Its one-year program has served almost 20,000 people since 2000, and the vast majority end up in roles at major companies or in college.   Delivering such strong results requires Year Up to balance the needs of its students, donors and the companies that provide critical support and internships. The organization has been using the Net Promoter System to gauge those relationships to ensure that everyone's needs are met.  Garrett Warfield, senior director of research and evaluation, and Research and Evaluation Manager Jess Britt say that feedback is simply part of Year Up's culture. In this episode, Rob Markey talks to Garrett and Jess about Net Promoter's role in achieving the organization's mission.      

Dell has been collecting customer feedback since Michael Dell dropped out of college three decades ago and founded the company. It's part of the company's DNA. The computer maker began its Net Promoter journey a decade ago when it was trying to connect customer satisfaction with economic outcomes. Now the company has a robust Net Promoter System that informs major projects and innovations. In this episode, host Rob Markey catches up with Marc Stein, senior vice president of customer experience at Dell. Marc discusses how the company's comprehensive Net Promoter System has evolved since Dell merged with EMC in 2016.

When responding to an angry customer, few words are as effective as "I'm sorry." And yet, it's so hard for some people to apologize sincerely. Why? In this episode, host Rob Markey welcomes back Maurice FitzGerald, retired vice president of customer experience at HP Software and author of Net Promoter—Implement the System. Together, Rob and Maurice will discuss how behavioral economics can inform companies' interactions with customers and how they use the Net Promoter System.

How does a customer's country of origin affect the feedback they provide about service experiences? Are certain countries home to naturally tough critics? Do people in some countries view rating scales differently? Cultural differences play a role in Net Promoter feedback, but to a far lesser degree than many practitioners assume. The challenge is to separate cultural issues from real service problems. In this episode, host Rob Markey welcomes back Maurice FitzGerald, retired vice president of customer experience at HP Software and author of Net Promoter—Implement the System. Together, Rob and Maurice will take on questions about cultural differences that Net Promoter System practitioners often encounter.  

Building internal support for a fledgling Net Promoter System can be one of the biggest challenges of getting such an effort off the ground. It requires leaders to not only have a strong grasp of loyalty economics and the company's strategy, but the softer skills necessary to inspire and teach employees to do the right thing for customers. In this episode, host Rob Markey welcomes back Maurice FitzGerald, retired vice president of customer experience at HP Software and author of Net Promoter—Implement the System. Together, Rob and Maurice will discuss how companies can rally their employees around their Net Promoter System efforts.

Begging customers for strong scores. Only seeking feedback from customers who had positive outcomes. Altering contact information to make dissatisfied customers hard to reach. When it comes to gaming the Net Promoter System, we've seen it all and one thing is always clear: When employees intentionally undermine a company's efforts to understand customers and improve service, everyone loses. In this episode, Rob Markey welcome back Maurice FitzGerald, retired vice president of customer experience at HP Software and author of Net Promoter—Implement the System. Together, they discuss ways that companies can discourage employees from sabotaging their feedback efforts.

The statistical validity of the Net Promoter Score depends on response rates; the higher the rate, the greater the accuracy. Low response rates can easily undermine a company's Net Promoter System, causing leaders to overlook burgeoning problems or wrongly assume that customers are happy. In this episode, host Rob Markey and Maurice FitzGerald, retired vice president of customer experience at HP Software and author of Net Promoter—Implement the System, tackle common questions about response rates.  Learn more: Creating a Reliable Metric

What if a company wants to adopt the Net Promoter System, but lacks the resources and time to fully implement each aspect of the framework? Is something better than nothing? In this episode, Rob Markey welcomes back Maurice FitzGerald, the retired vice president of customer experience at HP Software and author of Net Promoter—Implementing the System. Together, Rob and Maurice will tackle this question and others submitted by members of the Net Promoter System Forum on LinkedIn, a group for Net Promoter practitioners that Maurice manages. The Net Promoter System continues to evolve and improve based on the experience of thousands of companies. Maurice and Rob reverse their roles in this episode, allowing Rob to share the latest thinking on critical Net Promoter issues, such as best practices for questions and tactics for collecting deeper feedback from business-to-business companies.  

Long before social media and online surveys, shopkeepers relied on a simple measure of customer sentiment: whether their customers were smiling.  In this short episode, Fred Reichheld and Rob Markey share the story behind the Net Promoter System's signature smiley face icons, and discuss how one number can become a powerful learning tool for inspiring lasting change. 

By focusing on a single question, the Net Promoter System eliminates unnecessary complexity. Rob Markey and Fred Reichheld, inventor of the Net Promoter Score, explain the origins of the "likelihood to recommend" question. 

The Net Promoter System's "outer loop" is used to prioritize and address problems that can't be resolved by individuals or small teams. Rob Markey discusses why a robust, rigorous and transparent "outer loop" is essential to a solid Net Promoter System in this short episode.  Read more: The Net Promoter System's Outer Loop

The goal of the Net Promoter System is to create a culture that encourages employees to bring energy and creativity to their jobs.  Developing that kind of culture requires inspiring leaders. We've all seen those people who seem born to be leaders. They have an uncanny knack for motivating the people around them. They show gratitude and connect with people in authentic ways. You might chalk it up to charisma or a rare innate gift. While that might be true, it's possible that they studied their own behavior and learned how to mobilize the best qualities of their personality. In this episode, Rob Markey talks to Bain Partner Mark Horwitch, who has been studying what makes a leader inspiring. He says it comes down to 33 qualities. Most of us have some of them, but none of us have all of them. He says that when we know our strengths, we can develop them into true leadership assets. Learn more: How Leaders Inspire: Cracking the Code

The team huddle is the part of the Net Promoter System that connects the inner loop to the outer loop. Rob Markey discusses why regular get-togethers—often daily or weekly—are a critical element of the system. Read more: The Net Promoter System's "Huddle": How Employees Come Together to Focus on Customers and Teamwork

The Net Promoter Score is a simple measure, but building a process and culture that results in deep customer relationships can be very complex. In this episode, Rob Markey answers listeners' questions on everything from competitive benchmarks to best practices for following up with customers.  Do you have a question for Rob? Feel free to tweet your question to @rgmarkey on Twitter or write it in the comments field on any post on the Net Promoter System blog. 

The Net Promoter System has a mechanism called the inner loop that helps employees of all kinds get real-time feedback directly from customers. The feedback is usually positive—most employees do their job pretty well—so people typically become more engaged and enthusiastic. The occasional criticism or complaint about a specific interaction or decision can help individual employees and the organization learn to do their jobs better. The challenge is to set up the inner loop in the right way, so that it reinforces learning rather than undermining it.  In this short episode, Rob Markey discusses how the inner loop speeds learning.  Learn more: The Net Promoter System's "Inner Loop": The Secret to Individual Learning and Connections with Customers

The best companies--loyalty leaders that grow profitably--do things to teach their employees to do their jobs better. In fact, the Net Promoter System was designed to help companies facilitate and accelerate that individual learning. The system's inner loop and huddle play important roles in encouraging feedback and coaching so that employees can serve customers better and contribute to the mission of the organization. Some people think that developing deep expertise simply requires time and practice, but there's more to it. Anders Ericsson, coauthor of the new book Peak: Secrets from the New Science of Expertise, and his team have deconstructed what it takes to become a true expert in a variety of fields. What they've discovered has direct application to any company.