Book Review: "The Ultimate Question 2.0" by Fred Reichheld with Rob Markey



For the CloserQ readers looking to increase sales by increasing client satisfaction, I recommend, "The Ultimate Question 2.0: How NET PROMOTER Companies Thrive in a Customer-Driven World", Fred Reichheld with Rob Markey.  I recently listened to the book, via Audible, after a CEO recommended to me.
http://www.amazon.com/Ultimate-Question-Revised-Expanded-Customer-Driven/dp/1422173356/ref=sr_1_1?s=books&ie=UTF8&qid=1389034331&sr=1-1&keywords=ultimate+question+2.0

The book titles refers to the one and only ‘survey’ question you need to ask your clients on how you are doing as a company:  “On a zero-to-ten scale, how likely is it that you would recommend us (or this product/service/brand) to a family member, friend or colleague?” The question gets right to the heart about how the client really feels about you, which is, have we treated you right, in a manner that is worthy of your loyalty.   

Why is the book being reviewed on a sales blog?  A time tested method to grow sales is to have referenceable and loyal clients, and this book offers simply, concrete, and executable plans to increase your number of loyal clients. 

How does it works?  The survey categorize results of your customers into one of three buckets (iPromoters, Passives, an Detractors) when answering the Ultimate Question.  With regard to the scores themselves, Promoters are those who provide a rating of 9 or 10; Passives 7 or 8; and Detractors 6 or less.  Promoters are those clients who have the highest rates of repurchases and referral,s and will be advocates for your business; Passives are satisfied Clients that stay with a your company more due to inertia than true loyalty and will move for a better deal; and Detractors are clients who spread negative word-of-mouth comments about the company which negatively impacts your company’s reputation, ability to attract new Clients and have positive employee morale. Your NetPromoater System (NPS) Score is simply the % of Promoters of all responders minus the % of Detractor of all responders.

So how do you rank?  The average Net Promoter Score across over 400 companies in 28 industries is just 16%.  Top consumer companies are Harley Davidson (81%), Amazon (73%), and Apple (66%).  Top performers Tech Vendors there have an NPS of 50% with Intel (53%) and IBM (50%). 

If you choose to implement an NPS strategy, I recommend using Survey Monkey, which even has a NPS template https://www.surveymonkey.com/mp/net-promoter-score/ that you can use for you NPS Survey.  

Good Reading / Listening!
Reader Feedback, please click the ‘comments’ below to give your feedback on ' The Ultimate Question 2.0: How NET PROMOTER Companies Thrive in a Customer-Driven World '. Shaun Priest aka CloserQ. Have fantastic day.

Lastly, below is a presentation that I recently gave on NetPromoter.














 





Comments

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