Net Promoter® System
"How likely is it that you would recommend this company to a friend or colleague?" That's the all-important question behind the Net Promoter® System (NPS).
Created by Bain Director Emeritus Fred Reichheld, Net Promoter® is a groundbreaking tool that measures what matters most to our clients' customers. In his book The Ultimate Question, he established Net Promoter® as the catalyst to help companies sharpen their focus on customers. Fred and colleague Rob Markey recently released an expanded edition, The Ultimate Question 2.0, which explains how practitioners have built Net Promoter into a full-fledged management system that drives extraordinary financial and competitive results. To learn more about Fred and Rob's insights, follow the loyalty blog where they write about using the golden rule to help companies achieve business success.
Insight that leads to results
Over the years, Net Promoter® has produced convincing data about the power of the customer experience. For instance:
- Companies with the highest customer loyalty typically increase revenues at more than twice the rate of competitors
- Customers who rated a company high on the "likely to recommend" scale, known as promoters, buy more, stay longer, refer friends and provide useful feedback/new ideas
As a Bain consultant, you will likely have the chance to use Net Promoter® in select client engagements. A full Net Promoter® case includes developing a tailored strategy and implementing the eight essential processes to better understand customers and transform strategy and operations.
In other words, you will be taking concrete action that improves the client's bottom-line performance. That's what working at Bain is all about.
And if it's important for our clients, it's important for us. Bain systematically collects feedback from its own clients to improve individual relationships and identify firm-level strategic and operational opportunities.
®Net Promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld