Frederick F. Reichheld (born , Cleveland) is a New York Times best-selling author, (), and The Ultimate Question: Driving Good Profits and True Growth (). He has authored articles for business publications, including eight for. These were the assertions in the book The Ultimate Question by Fred Reichheld, a Bain & Company consultant. The same assertions were repeated and. Fred Reichheld. · Rating details · ratings · 54 reviews. Based on extensive research, ‘The Ultimate Question’ shows how companies can rigorously.
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Close the Loop with Customers Key to success in driving cultural change and customer-centricity through a focus on customer loyalty using the NPS a core part of daily workflow and core decision processes within the company.
Were it not for that perhaps I would have given it a lower score Bad Profits, Good Profits and the Ultimate Question Customer-centricity is the path to growth because it drives customer loyalty, helping make a company mission-driven as well as profit-driven.
Furthermore, I hypothesize that a business which promotes its ethical practices as a core reason for operating have a high NPS. However there are some key challenges too; dealing with legacy systems not built questionn customer-centricity and the prioritisation of customer loyalty in mind, overcoming internal and external resistance from those with vested interests, and ensuring score reliability.
The Ultimate Question: Driving Good Profits and True Growth
Just a moment while we sign you in to your Goodreads account. Second-half, not so much. Harvard Business Review Press. In fact, TOMS dedicates a portion of its website to customer testimonials. May 19, Liz rated it really liked it. He has authored articles for business publications, including eight for the Harvard Business Review.
We used this book as our template in developing a white paper for standardizing the methodological implementation across our companies. To reorient business decisions, the author argues that managers ought to measure customer satisfaction instead of financial performance.
Reichheld, however, believes that these profit-oriented measurements force business leaders to become addicted to bad profits. Like the addicts they are, enterprises dependent on bad profits have no future until they can break their habit. Some people tend to give high ratings, while others tend to give low ratings, especially when most of the points on the scale are not precisely defined. Both are needed for success for driving growth through good profit.
Fred Reichheld – Wikipedia
Most of the examples in the book didn’t even use the “ultimate” question. Those that answer reichhe,d the range are considered promoters; those in the range are passive; and those in the range are detractors. Often times, good ethics does equal high profits, but such a statement should never paint broad strokes. It also takes into account the referral value of customers.
Books by Fred Reichheld. The case rejchheld are great but not necessary to get the point across.
I refer to this book often when queation with business leaders. If a company creates loyal customers, it produces good profits. Jan 27, Mark Fallon rated it it was ok. May 18, Don Trowden rated it liked it.
I’m not sure the concept justifies the existence of an entire book. Rethinking Profits At its core, The Ultimate Question proposes that business managers rethink the ways they evaluate business success. Positives The question itself is a good one. Aug 16, Inggita rated it it was ok Shelves: No information is lost! This entry was posted in Closed loopEmployee engagementInteraction prioritizationLeadership and communicationLearningLoyalty economicsReliable metricRobust operational infrastructureRoot cause.
But, seriously, this didn A solid introduction to the Net Promoter Score methodology of performance reporting that falls qkestion a common trap: Oct 14, Chip Miller rated it really liked it Shelves: The approach proves itself empirically, as companies across industries show correlation between bet This is the book through which Reichheld conveys the rechheld behind his Net Promoter Score.
In fact, will be working to apply to mine. Good idea to use a 10 point scale for customer surveys. In this new version of the book, Reichheld renames NPS the “Net Promoter system” to emphasize elements of the approach beyond the metric. Highly readable book supported by case studies, though slightly repetitive.
The Ultimate Question: Driving Good Profits and True Growth by Fred Reichheld
The simple, effective and measurable framework he presents for NPS clearly illustrates the opportunity of going beyond just “customer satisfaction” and into the questuon more powerful measures of customer loyalty and word of mouth economics. Bain and Associates did research to determine which of several potential questions best relate to increased loyalty. The book as a ultimaet seemed to promote the concept but not explain how to make it work.
Experience shows that effective NPS score monitoring follows certain principles: I liked several of their points about reducing the volume of feedback collected from one’s customers and boiling it down to a simple question. Goodreads helps you keep track of books you want to read. We thought he did a great job, so we asked him if we could reproduce it here: I have not thought ferd bad profits till I read this book.