From Score to System: How the Net Promoter Score (NPS) Grew from a Metric to a Management System

Synopsis

In 2003, when loyalty economics expert Fred Reichheld created the Net Promoter Score (NPS) as a new way of measuring how well an organization generates customer loyalty, no one could have predicted how swiftly this easy-to-understand, open-source metric would catch on. Thousands of innovative companies--Apple, American Express, Zappos, Intuit, eBay, Southwest Airlines, and Facebook, to name just a few--adopted the Net Promoter Score as a way to track the loyalty, engagement, and enthusiasm of their customers. Then, over time, these same companies discovered new methods to expand the impact of NPS--using it to build employee engagement and customer loyalty--and it became something much bigger: a management system capable of transforming entire organizations. In this powerful introductory chapter, Reichheld and his Bain colleague Rob Markey share the back story of NPS. You'll learn how the "S" in NPS came to stand not only for a score but also for a system and a spirit of leadership--a distinctive philosophy that inspires organizations to enrich the lives of those they touch. You'll also be introduced to The Ultimate Question--"On a zero-to-ten scale, how likely is it that you would recommend us to a friend or colleague?"--and to the three categories of customers who respond to it: promoters, passives, and detractors. The impact of this chapter is best summed up in Reichheld's own words: "...The Net Promoter system will help you run a better business, do more satisfying work, and build relationships that yield a more fulfilling life."

Copyright:

2011

Book Details

Book Quality:

Publisher Quality

Publisher:

Harvard Business Publishing

Date of Addition:

08/03/16

Copyrighted By:

HBS Press

Adult content:

No

Language:

English

Has Image Descriptions:

No

Categories:

Nonfiction, Business and Finance

Submitted By:

Bookshare Staff

Usage Restrictions:

This is a copyrighted book.