The Daily Stat: A Company's Promoters Are Worth Thousands More than Detractors

Are you having trouble viewing this email? If so, click here to see it in a web browser. HOME   |   BLOGS   |   THE MAGAZINE   |   BOOKS   |   AUTHORS   |   STORE RSS   |   Mobile SEPTEMBER 1, 2011 A Company's Promoters Are Worth Thousands More than Detractors An affluent customer who's willing to recommend his or her bank to friends is worth $9,500 more to the company than a similarly wealthy customer who spreads negative reports about it, according to The Ultimate Question 2.0, by Fred Reichheld with Rob Markey. Promoters of a business are usually less price sensitive than other customers, and they appreciate the overall quality they receive from the company; the opposite is true for detractors, who have a negative lifetime value, the authors say. Source: The Ultimate Question 2.0 Share Today's Stat: FEATURED PRODUCT The Ultimate Question 2.0 (Revised and Expanded Edition): How Net Promoter Companies Thrive in a Customer-Driven World HBR Press Book In the first edition of this landmark book, business loyalty guru Fred Reichheld revealed the question most critical to your company's future: "Would you recommend us to a friend?" By asking customers this question, you identify detractors, who sully your firm's reputation and readily switch to competitors, and promoters, who generate good profits and true, sustainable growth. You also generate a vital metric: your Net Promoter Score. Since the book was first published, Net Promoter has transformed companies, across industries and sectors, constituting a game-changing system and ethos that rivals Six Sigma in its power. In this thoroughly updated and expanded edition, Reichheld, with Bain colleague Rob Markey, explains how practitioners have built Net Promoter into a full-fledged management system that drives extraordinary financial and competitive results. Practical and insightful, The Ultimate Question 2.0 provides a blueprint for long-term growth and success. ADVERTISEMENT Follow the Stat: BEST SELLERS HBR's 10 Must Reads: The Essentials HBR's Must Reads Library Set Guide to Persuasive Presentations Guide to Better Business Writing Guide to Getting the Right Work Done PREVIOUS STATS Ten-Year-Olds Can See Through Advertisers' Tactics Bankruptcy Shoppers Find UK a Pleasant Haven Rising Wages Plus Falling Cost of Leisure Equals Increased Retirement Disagreeable Men Earn More Than Nice Guys E-Readers Gain Ground Slowly in College Unlike Computer Prices, Broadband Prices Hardly Fall 15% of IT Change Projects Are Huge Money Sinks A Web Break Makes People More Productive Gay Men Earn Less, But Their Households Earn More Compulsive Web Use Hurts Marriages, but Frequent Webbing Helps Marriages Free HBR Interactive issue Download the iPad app HBR Reads, and get your issue with audio and video interviews and multimedia slideshows. Learn more » UNSUBSCRIBE   |   UPDATE YOUR PROFILE   |   MORE EMAIL NEWSLETTERS   |   PRIVACY POLICY Was this email forwarded to you? If so, sign up to start receiving your own copy. ABOUT THIS MAILING LIST You have received this message because you subscribed to the "The Daily Stat" email newsletter from Harvard Business Review. If at any point you wish to remove yourself from this list, change your email address, or sign up for other email newsletters and alerts, please visit the Harvard Business Review Email Newsletter Preference Center. OPT OUT If you do not wish to receive any email messages from Harvard Business Review, click here. ADVERTISE WITH HBR This enewsletter is read by thousands of decision makers every day. Learn more about connecting your brand with this audience. Copyright © 2011 Harvard Business School Publishing, an affiliate of Harvard Business School. All rights reserved. Harvard Business Publishing | 60 Harvard Way | Boston, MA 02163 Customer Service: 800-545-7685 (+1-617-783-7600 outside the U.S. and Canada)