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management

What is the omnipresent “Net Promoter Score?”

I was researching the concept, as it came up in a meeting.

In brief: as an operational feedback mechanism, measure ONLY enthusiastic customers and ONLY ask is they were satisfied and if they would recommend your services or product. ‘

“Enthusiastic” means the highest ranking on both.

No long customer satisfaction surveys that have no predictive value and cost a fortune to create, implement, and that your customers don’t complete.

Interesting. Powerful.

Here’s the original this article in the Harvard Business Review:


The One Number You Need to Grow

If growth is what you’re after, you won’t learn much from complex measurements of customer satisfaction or retention. You simply need to know what your customers tell their friends about you.
— Read on hbr.org/2003/12/the-one-number-you-need-to-grow

Categories
management

The trap of being established, experienced and…entrenched

I’ve been thinking about executives and teams I’ve worked with over the years, and just how easy it is to get stuck, but find comfort in experience.

We’ve all heard the line “one year of experience, ten times.” It’s insulting, and facile, and dangerously close to the truth.

We must always be learning, always open to new ideas and the possibility of being wrong. Always.

Or else we haven’t had 10+ years of experience, we’ve had a much smaller number several times.