NEW YORK--Fred Reichheld, Bain & Company Fellow, creator of the Net Promoter® Score, and author of the best-selling loyalty trilogy The Loyalty Effect, Loyalty Rules! and The Ultimate Question, has been recognized by CRM magazine, a leading customer relationship management trade publication, as one of six 2007 Influential Leaders. The 2007 Influential Leaders recognition was part of CRM’s sixth annual Market Awards, which were announced by the magazine in its September 2007 issue.
According to CRM magazine editors, “Influential Leaders are the executives and industry pundits with the strategy, product line, or visionary thinking needed to drive the market.” Adding, “Just about anyone who runs a successful business has heard of, and probably uses, the Net Promoter Score as a measure of how his or her company is serving its customers. So just about everyone is familiar with the name Frederick F. Reichheld – or they should be.”
Mr. Reichheld, is the founder of Bain & Company’s Customer Loyalty Practice and creator of the Net Promoter Score, a powerful and widely-adopted management tool used by companies to better understand customer intentions and to facilitate building organizations better equipped to serve customer needs. He has dedicated most of his career to helping companies develop customer and employee loyalty strategies to achieve meaningful organizational and financial results.
"Fred’s approach is simple, powerful, and revolutionary, like Edison’s invention of the light bulb," said Scott Cook, co-founder of Intuit Inc. in Mountain View, Calif., which uses the Net Promoter concept to drive direction in its businesses including QuickBooks, TurboTax, Intuit Online Payroll, and Quicken. "The Net Promoter concept enriches our laser focus on customers, so teams can concentrate on delighting them and solving their important problems."
In addition to being named as one of CRM magazine’s 2007 Influential Leaders, Mr. Reichheld was named to SmartMoney’s 2006 “Power 30,” an annual ranking of the 30 most influential people in investing, for his role in creating the Net Promoter® Score. He was also named to Consulting Magazine’s “Top 25 Most Influential Consultants” in its 2003 annual survey.
Editor’s note: To arrange an interview with Fred Reichheld or to obtain a photograph, please contact Cheryl Krauss at email:
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or 646-562-7863 or Frank Pinto at email:
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or 917-309-1065.
About Bain & Company, Inc.
Bain & Company, a leading global business consulting firm, serves clients on issues of strategy, operations, technology, organization and mergers and acquisitions. The firm was founded in 1973 on the principle that Bain consultants must measure their success by their clients' financial results. Bain clients have outperformed the stock market 4 to 1. With 37 offices in 24 countries, Bain has worked with over 3,600 major multinational, private equity and other corporations across every economic sector. For more information visit: www.bain.com.
Net Promoter Score Methodology
The Net Promoter Score (NPS) of a company is calculated by taking the percentage of customers who are promoters (P) and subtracting the percentage who are detractors (D), based on their response to the ‘Ultimate Question:’ “How likely is it that you would recommend this company to a friend or a colleague?” Responses are measured on a scale of 0-10; 9 and 10 are promoters, 7 and 8 are passives and 0-6 are detractors. Companies that use the score find a tight link between growth and NPS relative to competitors. On average, the NPS leader in an industry has grown at more than 2.6-times the rate of its competition.
The radical simplicity of the Net Promoter Score approach enables companies to close the feedback loop among customers, front line employees and the management team. Its power lies in how easy it is for employees to understand and use it at all levels, from the CEO down to the front line.
