How to Use Net Promoter Score (NPS) to Build Brand Loyalty

CXOTalk

#NPS #NetPromoterScore #CustomerLoyalty
Brand loyalty is a key to business growth, and one of the most important metrics for evaluating customer satisfaction is the Net Promoter Score (NPS) developed by Fred Reichheld. Unfortunately, many brands use NPS incorrectly without relying on NPS best practices.
Today’s guest is Mr. Fred Reichheld, who shares with us how to use the Net Promoter System to drive loyalty and increase the amount of money customers spend through the entire customer journey.
Read the full transcript: https://www.cxotalk.com/episode/what-net-promoter-score-how-use-it-nps-creator
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The conversation includes these topics:
-- What is the Net Promoter System (NPS)?
-- What is the foundation of customer loyalty?
-- What is NPS?
-- How to use NPS properly?
-- What is the Earned Growth metric?
-- Can NPS be used with internal stakeholders and internal customers?
-- Is transactional NPS a useful metric?
-- How to apply NPS results to improve customer loyalty?
-- How important are the verbatim comments when using NPS scores?
-- What is the future of the Net Promoter System?
Fred Reichheld is the creator of the Net Promoter® system of management, the founder of Bain & Company's Loyalty practice, and the author of five books including the New York Times bestseller The Ultimate Question 2.0. He is currently a Fellow and Senior Advisory Partner at Bain, where he has worked since 1977. According to The New York Times, “[He] put loyalty economics on the map.” The Economist refers to him as the “high priest” of loyalty. His latest book is called Winning on Purpose.