Fred Reichheld: Love Your Customers | Sales | E186

Young and Profiting with Hala Taha (Entrepreneurship, Sales, Marketing)

YAP Media Network

Education, Marketing, Entrepreneurship, Business, Self-improvement

4.8 • 1.3K Ratings

🗓️ 5 September 2022

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

When it comes to making customers happy, there is no one more knowledgeable than Fred Reichheld. Fred is one of the world’s leading experts on customer and employee loyalty. He created the Net Promoter Score, or NPS, which measures your customers’ experiences and satisfaction with your brand. NPS is used by two-thirds of the Fortune 1000. In this episode, Hala asks Fred about the Net Promoter Score and its three categories. They talk about how some of the biggest companies use NPS and how to encourage a customer-centered culture within your organization. They also talk about how to use customer referrals to innovate your product and the earned growth metric. Topics Include: - Why Fred has worked at Bain & Company since 1977 - Being successful without being an entrepreneur - Net Promoter Score - Qualities of the best companies - The Golden Rule - Loving your customers - Using referrals to innovate - Using top NPS scores to invest - The Flywheel Effect - Earned growth metric - Fred’s book, Winning On Purpose Fred Reichheld is the world’s leading expert on customer loyalty. He is the creator of the net promoter system, which was used by companies worldwide to increase their customer retention rate. He has been named ‘the high priest of customer loyalty’ by The Economist. He is a bestselling author of multiple books, including his most recent release, Winning On Purpose, which teaches leaders how to inspire customer love within their own teams. He has worked for Bain & Company since graduating from college in 1977. He founded Bain’s Loyalty principle, which helps companies achieve results by focusing on customer loyalty and improving customer retention levels. Sponsors: Indeed - Visit Indeed.com/YAP to start hiring now. Constant Contact - Go to constantcontact.com to get started for free today The Jordan Harbinger Show - Check out jordanharbinger.com/start for some episode recommendations Shopify - Go to shopify.com/profiting, for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features Resources Mentioned: Fred’s LinkedIn: https://www.linkedin.com/in/fredreichheld/ Bain & Company’s Website: https://www.bain.com/our-team/fred-reichheld/ Fred’s Twitter: https://twitter.com/FredReichheld Fred’s Facebook: https://www.facebook.com/people/Fred-Reichheld/100011364038688/ Fred’s Instagram: https://www.instagram.com/reichheldfred/ His book, Winning On Purpose: https://www.facebook.com/people/Fred-Reichheld/100011364038688/ Net Promoter System’s website: https://www.netpromoter.com/know/ More About Young and Profiting Download Transcripts - youngandprofiting.com Get Sponsorship Deals - youngandprofiting.com/sponsorships Leave a Review - ratethispodcast.com/yap Watch Videos - youtube.com/c/YoungandProfiting Follow Hala Taha LinkedIn - linkedin.com/in/htaha/ Instagram - instagram.com/yapwithhala/ TikTok - tiktok.com/@yapwithhala Twitter - twitter.com/yapwithhala Learn more about YAP Media Agency Services - yapmedia.io/ Join Hala's LinkedIn Masterclass - yapmedia.io/course

Transcript

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0:00.0	You're listening to Yap, Young and Profiting Podcast, a place where you can listen, learn, and
0:08.2	profit. Welcome to the show. I'm your host, Halitaha, and on Young and Profiting Podcast,
0:14.2	we investigate a new topic each week and interview some of the brightest minds in the world.
0:20.0	My goal is to turn their wisdom into actionable advice that you can use in your everyday life,
0:26.0	no matter your age, profession, or industry.
0:29.1	There's no fluff on this podcast, and that's on purpose.
0:32.6	I'm here to uncover value from my guests by doing the proper research and asking the right questions.
0:39.0	If you're new to the show, we've chatted with the likes of ex-FBI agents, real estate moguls,
0:44.3	self-made billionaires, CEOs, and best-selling authors. Our subject matter ranges from enhancing
0:49.8	productivity, how to gain influence, the art of entrepreneurship, and more. If you're smart
0:55.7	and like to continually improve yourself, hit the subscribe button because you'll love it here
1:00.6	at Young and Profiting Podcast. Today on YAP, we're chatting with Fred Reichelt, the creator
1:06.9	of the Uber popular open source market research metric, net promoter score or NPS, which
1:13.1	helps companies gauge customer loyalty. Fred is one of the world's far most experts on customer
1:18.8	satisfaction, so much so that he was named by the economist as the high priest of customer
1:24.2	loyalty. Fred is also the best-selling author of four business books, and he is a fellow
1:29.3	at Bain & Company and founder of Bain's loyalty practice. Fred frequently speaks at major business
1:35.7	forums, and his work on loyalty and customer service has been covered in Harvard Business Review,
1:40.8	the Wall Street Journal, and the New York Times, to name a few. In this episode, Fred
1:45.1	talks about his entrepreneurship at Bain & Company over the past 20-plus years, and we'll get the
1:50.6	origin story of his widely used net promoter score. We'll discuss the value of customer referrals
1:56.7	and customer-based accounting. Fred shares the power of the golden rule, treat others the way
	...

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