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Chapter from: "The Ultimate Question 2.0 (Revised and Expanded Edition): How Net Promoter Companies Thrive in a Customer-Driven World"
Published by: Harvard Business Publishing
Published in: 2011

Abstract

The Net Promoter system of measuring customer loyalty rests firmly on two distinct pillars. One pillar is economic: Net Promoter makes it possible to invest in customer loyalty and to calculate the return on that investment. And this means that your company's CFO and finance department must be on board. The other pillar is inspirational: Most employees want to do the right thing by customers; to affect their lives in a positive way. Net Promoter helps employees know when they're succeeding, when they're falling short, and how they can improve. In this chapter, world-renowned expert on loyalty economics Fred Reichheld and his Bain colleague Rob Markey explain how companies that have successfully adopted NPS - and become truly customer-centric in the process - have learned to focus on both pillars of the Net Promoter system and avoid neglecting either one. With dozens of real-life examples from Southwest Airlines, Charles Schwab Corporation, Apple Retail, Verizon, Rackspace, and others, this chapter offers both cautionary tales and words of wisdom for any leader preparing to embark on his or her own Net Promoter journey. This chapter was originally published as Chapter 7 of ‘The Ultimate Question 2.0 (Revised and Expanded Edition): How Net Promoter Companies Thrive in a Customer-Driven World.’ This chapter is excerpted from ‘The Ultimate Question 2.0 (Revised and Expanded Edition): How Net Promoter Companies Thrive in a Customer-Driven World'.

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Abstract

The Net Promoter system of measuring customer loyalty rests firmly on two distinct pillars. One pillar is economic: Net Promoter makes it possible to invest in customer loyalty and to calculate the return on that investment. And this means that your company's CFO and finance department must be on board. The other pillar is inspirational: Most employees want to do the right thing by customers; to affect their lives in a positive way. Net Promoter helps employees know when they're succeeding, when they're falling short, and how they can improve. In this chapter, world-renowned expert on loyalty economics Fred Reichheld and his Bain colleague Rob Markey explain how companies that have successfully adopted NPS - and become truly customer-centric in the process - have learned to focus on both pillars of the Net Promoter system and avoid neglecting either one. With dozens of real-life examples from Southwest Airlines, Charles Schwab Corporation, Apple Retail, Verizon, Rackspace, and others, this chapter offers both cautionary tales and words of wisdom for any leader preparing to embark on his or her own Net Promoter journey. This chapter was originally published as Chapter 7 of ‘The Ultimate Question 2.0 (Revised and Expanded Edition): How Net Promoter Companies Thrive in a Customer-Driven World.’ This chapter is excerpted from ‘The Ultimate Question 2.0 (Revised and Expanded Edition): How Net Promoter Companies Thrive in a Customer-Driven World'.

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