33 min listen
#111 What is NPS 3? How can you bring it to life in your company?
#111 What is NPS 3? How can you bring it to life in your company?
ratings:
Length:
22 minutes
Released:
May 23, 2022
Format:
Podcast episode
Description
What is NPS 3? Since its introduction, in 2003, the Net Promoter System, which measures how consistently brands turn customers into advocates, has become the predominant customer success framework. But as its popularity grew, NPS started to be gamed and misused in ways that hurt its credibility. Unaudited, self-reported Net Promoter Scores undermined the usefulness of NPS. In order to address this problem, Fred Reichheld, the NPS founder has introduced a hard metric, drawn from accounting results, known as "earned growth rate" that captures the revenue growth generated by returning customers and their referrals. In this episode we discuss; The problem with NPS How NPS3 works How to calculate your earned growth rate ----- * Do you love The Growth Whisperers and want to see our smiling faces? Subscribe to our YouTube channel. * Do you enjoy our content? Rate our show! * Follow us on Twitter @Evolution_Perth and @lawrenceandco1 Learn more about building enduring great companies. ----- ----- Links: *https://evolutionpartners.com.au/ *https://lawrenceandco.com/ ----- Additional episodes you might enjoy: # 50 Jim Collins Flywheel Concept: How to build unstoppable momentum in your company # 16 Jim Collins # 84 The 7 common strategy mistakes from Michael Porter # 43 The top 7 best practices for weekly meetings # 69 What is a Topgrading virtual bench and why you need one # 88 The hidden cost of not having a team of all A-Players
Released:
May 23, 2022
Format:
Podcast episode
Titles in the series (100)
72 How the best leaders hold people accountable (part 1 of 2): How the best leaders hold people accountable (part 1of 2) Many leaders want to know how to hold a team accountable. Often they will look at team members and wonder why they aren't accountable. In order to build accountability in a team, you need two... by The Growth Whisperers podcast