Net Promoter Conference Miami 2008

Understanding Customer Value to Drive Growth – Emilia Brad

Dr. Laura Brooks, VP of Methodology and Consulting for Satmetrix, presented on the topic of customer value, highlighting the value of Word-of-Mouth (WOM) advertising and the importance of employee engagement to foster customer loyalty. 

Customer Centricity: The Role of Leadership

Fred Reichheld, author of the Net Promoter book, The Ultimate Question, gave a historical review of the history of NPS. He has spent 30+ years talking about the importance of loyalty. Loyalty is a difficult term it seems for businesses to latch onto, so you are better off talking about growth. The two are almost synonymous. Loyalty leaders grow at 2.6 times that of competitors. Loyal customers do four key things that drive growth:

1. Repurchase
2. Buy more
3. Refer
4. Give feedback

State of the Net Promoter Nation - Aisling Hassell

Richard Owen, CEO of Satmetrix, decided to *go large* in talking about state of the Net Promoter nation. He’s gone out to the Net Promoter community of 6000-7000 today and asked what is working? Successful companies understand that NPS is not the goal, but operational change is the goal. NPS is not a research exercise. No miracle will occur just from measurement. You need an operational approach.

Having sorted out NPS, Richard moved onto the easier topic of the world economy. The story of baking birthday cakes over the years shows how we have added a higher level of service to every purchase... economies are moving to service economies.

Richard referenced 3 drivers of value creation:

• Operational excellence
• Product design
• Customer intimacy