Fred Reichheld: the Godfather of customer loyalty

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The Business Leader Podcast

Business Leader

99 episodes

4 months ago

The Business Leader Podcast brings you interviews with some of the most prominent business people across an array of industries from the UK and around the world. This podcast is brought to you by Business Leader, one of the UK's leading B2B media platforms for scale-up and high-growth businesses.

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Hosted on Acast. See acast.com/privacy for more information.

Management

Business,

Entrepreneurship

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Fred Reichheld: the Godfather of customer loyalty

The Business Leader Podcast

42 minutes 15 seconds

2 years ago

Fred Reichheld: the Godfather of customer loyalty

Fred Reichheld is a legend in the field of customer loyalty. If you’ve ever received a text or email asking to rate a product or service, you can thank Fred for that. Although the system isn’t without its critics, it’s estimated that NPS (Net Promoter Score) is now used by two-thirds of Fortune 1000 companies.

Since its initial development in the early ‘90s, Fred developed the NPS system to measure how likely customers were to recommend a company to a friend. His latest book, Winning on Purpose: The Unbeatable Strategy of Loving Customers, builds on the early system and is a must-read for any businessperson pursuing sustainable success.

We talk to Fred about the good and the bad of the NPS system, how it’s developed over time, how NPS is a key indicator for the quality of a company’s leadership and much more.

Here's what we discussed:

What would a younger you say about your success? (00:14)
Could you give us an overview of your career? (01:00)
Where did your passion for customer loyalty come from? (02:32)
How much has the NPS changed since you first came up with the concept? (05:04)
Could you give some examples of companies that you feel have done NPS in the right way? (16:51)
Have you noticed differences in the application of NPS across the world? (22:31)
Would you say there is a direct correlation between NPS and good leadership at a company? (24:45)
Who are the most inspiring business leaders you've met? (30:30)
Have you noticed a dip in overall customer service since the pandemic? (34:05)
The Good News Postcard: What is your advice to your younger self? (38:40)
What makes a great business leader? (40:16)

Thanks to Finley from the Jill Dando News for bringing us The Good News Postcard this week. Get your dose of positive news by visiting The Good News Post, a website collated by hundreds of young people aged 8 to 18 in the UK. They've written real-life “news that’s good for you”, covering people, animals, stories to cheer people up, and tips to make lives better.

Be sure to subscribe to the podcast and the Business Leader YouTube channel for more interviews with some of the world’s leading business figures.

Hosted on Acast. See acast.com/privacy for more information.