Fred Reichheld on the Importance of Customer Love

“The best gift you could give your employees is to put them in a position where they can earn a life of meaning and purpose through service to others that get recognized and rewarded by teammates.”

This episode of Be Customer Led with Bill Staikos features Fred Reichheld. Fred is one of the world's leading customer and employee loyalty experts. He is the Net Promoter System (NPS®) creator and has been called the "high priest" of loyalty by The Economist. Also, Fred is the founder of Bain's Loyalty practice and a fellow at Bain & Company, where Fred advises businesses on increasing customer and employee loyalty to boost business performance. In this episode, he explains how NPS enables enterprises to become genuinely client-focused, thereby releasing the potential for profitable expansion.

[01:18] Fred's Background - Fred describes the milestones and turning points in his professional life.
[03:04] Net Promoter System – Fred details about net promoter system and how to benefit from it.
[08:03] Winning on Purpose: The Unbeatable Strategy of Loving Customers - Fred explains how customer affection translates into Net Promoter Score (NPS) or likelihood to recommend a product.
[14:48] Best Gift - What is the best gift a company can give its employees?
[18:31] More on NPS - The power of NPS, putting NPS into practice, and the concept of earned growth
[26:33] Advice – Fred provides guidance for CEOs to begin their journeys to success.
[30:35] Fred's Question - Which business, brand, or product have you enthusiastically recommended to a friend, and why?

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