Fred Reichheld really needs no introduction, but here are some highlights. The founder of quantitative loyalty, Fred is best known as the creator of the Net Promoter® system of management used worldwide as THE loyalty predictor in business. According to The New York Times, he put loyalty economics on the map. But while he was trained in economics and is known for his work in quantifying the link between loyalty and profits, in this conversation Fred really wants us to focus on why it makes sense to treat people right. Listen in to hear why making shareholders rich is not the main purpose of companies – it is actually enriching people’s lives. And wait until you hear his views on how NPS has been misused by many!
"Putting the primary purpose as enriching the lives of the customers actually does work and it makes investors rich over the long haul, the right way." Fred Reichheld
About Marketing Legends
Marketing Legends, a series in the WVU Marketing Communications Today podcast, features marketing thinkers, innovators, practitioners and founders — legends of the marketing world — who will talk about their careers and share their wisdom with the marketers of today.
About our Guest
Bain Fellow, Creator of the Net Promoter® system of management
Fred Reichheld is a Bain Fellow and founder of our Loyalty practice, which helps companies achieve results through customer and employee loyalty. He is the creator of the Net Promoter® system of management.
His work in the area of customer and employee retention has quantified the link between loyalty and profits. Fred's books, The Loyalty Effect: The Hidden Force Behind Growth, Profits, and Lasting Value (HBSP 1996); Loyalty Rules! How Today's Leaders Build Lasting Relationships (HBSP 2001); The Ultimate Question: Driving Good Profits and True Growth (HBSP, 2006) and The Ultimate Question 2.0: How Net Promoter Companies Thrive in a Customer Driven World (HBR Press) have each become best sellers.
In his most recent book, Fred reveals how NPS practitioners including Apple Retail, Philips, Schwab, Allianz, American Express, and Intuit, have used the Net Promoter System (NPS) to generate extraordinary results. He explains how NPS helps companies become truly customer-centric, unleashing profitable growth through systematically converting more customers into promoters and fewer into detractors.
Fred is a frequent speaker at major business forums and his work on loyalty has been widely covered in The Wall Street Journal, New York Times, Financial Times, Fortune, Business Week and The Economist. He is the author of eight Harvard Business Review articles on the subject of loyalty and he is also a LinkedIn Influencer, a member of a group of corporate leaders and public figures who are thought leaders in their respective fields.
Consulting Magazine chose Fred as one of the “25 Most Influential Consultants” in its 2003 annual survey. According to The New York Times, "[He] put loyalty economics on the map." The Economist refers to him as the "high priest" of loyalty.
Reichheld graduated with Honors both from Harvard College (B.A., 1974) and Harvard Business School (M.B.A., 1978).
Meet the Hosts
Cyndi W. Greenglass is a founding partner and president at Livingston Strategies, a data-informed, strategic consulting firm that helps clients develop, execute, and measure their customer communications with a close focus on results. Cyndi has razor-sharp strategic skills matched by impeccable on-the-ground savvy and tactical abilities. She is an Adjunct Instructor in the Data Marketing Communications online master's degree program from West Virginia University.
Greenglass has twice been named into the Top 100 Influential BTB Marketers by Crain’s BtoB Magazine and was the 2012 CADM Chicago Direct Marketer of the Year. She is a member of the Board of Advisors for BRAND United and has taught, trained and presented at over 50 conferences throughout the world.
Ruth P. Stevens consults on customer acquisition and retention, for business-to-business clients. Ruth serves on the boards of directors of the HIMMS Media Group, and the Business Information Industry Association. She is a trustee of Princeton-In-Asia, past chair of the Business-to-Business Council of the DMA, and past president of the Direct Marketing Club of New York.
Ruth was named one of the 100 Most Influential People in Business Marketing by Crain’s BtoB magazine, and one of 20 Women to Watch by the Sales Lead Management Association. She serves as a mentor to fledgling companies at the ERA business accelerator in New York City.
WVU Marketing Communications Today: Marketing Legends is presented by the West Virginia University Reed College of Media, which offers renowned online master’s degree programs in Marketing Communications. Interested in growing your career with a master's degree in Data, Digital or Integrated Marketing Communications? Request more information today!