These were the assertions in the book The Ultimate Question by Fred Reichheld, a Bain & Company consultant. The same assertions were repeated and. Fred Reichheld. · Rating details · ratings · 54 reviews. Based on extensive research, ‘The Ultimate Question’ shows how companies can rigorously. Frederick F. Reichheld (born , Cleveland) is a New York Times best-selling author, (), and The Ultimate Question: Driving Good Profits and True Growth (). He has authored articles for business publications, including eight for.
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Goodreads helps you keep track of books you want to read. Want to Read saving…. Want to Read Currently Reading Read. Refresh and try again. Open Preview See a Problem? Thanks for telling us about the problem. Return to Book Page. Based reichhe,d extensive research, ‘The Ultimate Question’ shows how companies can rigorously measure Net Promoter statistics, help managers improve them, and create communities of passionate rsichheld that stimulate innovation.
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Be the first to ask a question about The Ultimate Question. Lists with This Book. This book is not yet featured on Listopia. Dec 25, Deane Barker rated it liked it. A solid introduction to the Net Promoter Score methodology of performance reporting that falls into a common trap: To get this thing published, the authors had to pad it out iltimate book length, and it’s just way, way, way long.
It talks about the same things, over and over — NPS is actually a pretty simple concept — and goes into case study after case study. Don’t get me wrong, it’s a good book, and I believe in the idea of NPS. But, seriously, this didn A solid introduction to the Net Promoter Score methodology of kltimate reporting that falls into a common trap: But, seriously, this didn’t need a full-length trade paperback.
Aug 16, Inggita rated it it was ok Shelves: Dec 14, Donovan Richards rated it really liked it. Good Ethics Is Good Business? Often times, good ethics does equal high profits, but such a statement should never paint broad strokes. Occasionally, the right decision costs a firm extensive money.
Rethinking Profits At its core, The Ultimate Question proposes that business managers rethink the ways they evaluate business success. Since financial metrics are easy questionn produce and easy to read, managers often make decisions strictly based on financials. Reichheld, however, believes that these profit-oriented measurements force business leaders to become addicted to bad profits. To reorient business decisions, the author argues that managers ought to measure customer satisfaction instead of financial performance.
If a company creates loyal customers, it produces good profits. In order to find out whether a company holds satisfied customers, only one question needs to be asked. Questiom answering that question on a scale, a frec can truly gauge the satisfaction and loyalty of its reichhfld. Those that answer in the range are considered promoters; those in the range are passive; and those in the range are detractors.
Thus, a company will know the satisfaction of its customers by subtracting the detractors questtion the promoters. This equation hte managers a net promoter score NPS. A company with a low NPS, on the other hand, is addicted to bad profits and is holding its customers hostage.
Whenever the customers have an opportunity to leave this company, they will. The industry leaders in NPS are also growing exponentially and making large profits. Good Ethics Equaling Good Business Considering the angle I presented at the beginning of the review, where are the ethics in this book?
A speed summary of The Ultimate Question | Net Promoter System Blog
At first glance, NPS is a customer satisfaction metric, an equation with little connection to ethics. A business need not be overtly ethical in order to serve customers; it only needs to practice the golden rule of treating others as it would wish to be treated in ultimatte to obtain a high NPS. But I argue that serving customers is a task that orients a company toward ethics. By thinking of the needs of the customer, a company cannot act relchheld because a selfish action qiestion in bad profits and customer detractors.
Furthermore, Reichhel hypothesize that a business which promotes its ethical practices as a core reason for operating have a high NPS. For example, TOMS shoes illustrates the significance of promoters. With its one-for-one social enterprise model, the company relies on customer promotion for its advertising. In fact, TOMS dedicates a portion of its website to customer testimonials. Without the social ethics surrounding the business, TOMS is just another shoe company.
Knowing that a shoe purchase helps a child in need, customers take great joy in wearing and promoting the product.
The Ultimate Question: Driving Good Profits and True Growth
So perhaps, advertised good ethics does equal business. More research is in order, but a link between ethics and high profits seems plausible. If you manage a business, you owe it ultumate yourself, your employees, and your frsd to read The Ultimate Question.
Originally published at http: Dec 07, Jeff rated it liked it Shelves: First-half was really good. Second-half, not so much. This book offers a great question, the ultimate question in deichheld, for organizations to ask their customers: How likely is it that you would recommend this company to a friend or colleague? Whenever a customer feels misled, mistreated, ignored or coerced, then profits from that customer are bad.
Bad profits arise when companies save money by delivering a lousy customer experience First-half was really good. Bad profits arise when companies save money by delivering a lousy customer experience.
Bad profits erichheld about extracting value from customers, not creating value. Like the addicts they are, enterprises dependent on bad profits have no future until they can break their habit. The metric that it produces is the Net Promoter Score. Promoters loyal enthusiasts who keep buying and urge their friends to do so.
Passives are satisfied but unethusiastic customers who can be easily wooed by the compeitition.
And Detractors are unhappy customers trapped in a bad relationship. Sep 28, Josh Steimle rated it really liked it. Sometimes a book comes along just reicuheld you need it.
Were it not for that perhaps I would have given it a lower score Well, maybe a 3. I’m not sure the concept justifies the existence of an entire book. I think the point could be well communicated in an article, the book merely backs up the point with data and anecdotes.
It’s a book you can quickly skim through and still walk away with the gist, which is this–if you want your business to make more m Sometimes a book comes along just when you need it. It’s a fres you can quickly skim through and still walk away with the gist, which is this–if you want your business to make more money, you need to ask your customers on a regular basis if they are willing to refer you to wuestion friends, family, associates, etc.
If reichhedl, you have a problem that needs to be fixed. If so, you can get more business. May 18, Don Trowden rated it liked it.
There is much to like about this book and the development of the NPS Net Promoter Score method for determining reihcheld the promoters ultimatw a questipn are and who are the detractors. I do find it difficult to believe, however, that more businesses did not already know the importance of the one big question: I do lik There is much to like about this book and the development of the NPS Net Promoter Score method for determining who the promoters of a business are and who are the detractors.
I do like the topic of good profits and bad ones, the former oftentimes coming at the expense of the customer experience and loyalty banking fees, checked bag charges, etc. This is a fast and light read for anyone tasked with focusing growth on customer happiness within a company setting.
May 18, JP rated it really liked it. This is the book through which Reichheld conveys the story behind his Net Promoter Score. Bain and Associates did research to determine which of several potential questions best relate to increased loyalty. On a scale ofhow likely are you to recommend [company] to your family and friends? The “net promoter score” is the percentage of promoters minus the percentage of detractors. The approach proves itself empirically, as companies across industries show correlation between bet This is the book through which Reichheld conveys the story behind his Net Promoter Score.
The approach proves itself empirically, as companies across industries show correlation between between NPS score and growth. The methodology includes recommendations for transparency, understanding the target audience, fres a solid cycle of using surveys, backed by follow-up, action, and insight in a closed-loop process.
Dec 01, Jon rated it it was ok. It makes some okay points on how to think about your customers, but this is like a lot of other business books in how it extols this one thing qyestion the secret to all success. Most of the examples in the book didn’t even use the “ultimate” question.
The fact that so many companies make NPS so central is laughable, and after reading this book you might start cringing like I do whenever someone mentions it in the office. It can be a useful question to ask, but it’s only a starting point and certainly It makes some okay points on how to think about your customers, but this is like a lot of other business books in how it extols this one thing as the secret to all success. It can be a useful question to ask, but it’s only a starting point and certainly not the ultimate question.
The entire thing seems largely designed to get more consulting business for Bain.