Ever heard of Fred Reichheld? He’s written several books and hundreds of articles on why loyalty marketing is the lynchpin of any business. Fred is a Harvard BA and MBA graduate who has been named the priest of loyalty marketing and for good reason.
Fred is the creator of the Net Promoter System (previously Net Promoter Score.) Have you ever been asked if you would refer a friend or family member to a certain company? Then you have participated in establishing some company’s NPS. This question is the ultimate question!
“The Ultimate Question 2.0,” Fred’s latest book, guides you through what the ultimate question is, when you should ask it, who you should ask it of, and why you should ask it. He also shows you how to calculate your NPS. You should definitely read the book, but for now, listen in as Alex dives into the NPS and how you can calculate it for your business.
The three key insights for this episode are:
- What is the ultimate question and what true value does it yield?
- What is your company’s net promoter score and why is it important?
- When do you ask the ultimate question to get more referents?
Are you ready to take your business to the next level and become a highly skilled ethical influencer? Then learn why increasing your NPS leads to a healthier business and let me show you how to do it.
In This Episode:
[03:58] – Learn the three key insights for this episode which aim to reveal the importance of your NPS.
[05:49] – Alex shares a bit about Fred Reichheld and Vilfredo Pareto and their work on how humans choose and refer things to others.
[06:49] – Bonus Alexism!
[06:56] – Fred created the net promoter score which is now the Net Promoter System. (He’s also written several books!)
[07:33] – Learn what good profits and true growth really means, and how Fred expanded on this concept in The Ultimate Question 2.0.
[08:25] – Fred is hailed as the person who put loyalty economics on the map.
[11:17] – What is the NPS, true growth, and the most effective way to grow a company?
[11:41] – What IS the ultimate question?
[12:19] – Who are the three types of people the ultimate question reveals and where do they fall on the NPS?
[14:52] – What is a referent and why are they so important?
[16:17] – Learn what questions you should ask next and to whom.
[20:36] – Where is your company in their NPS? How do you calculate your score?
[23:01] – Loyalty marketing is the key when you have new customers or clients!
[23:27] – When should you ask the ultimate question and subsequent questions?
[26:44] – This episode’s Alexism is this: “You don’t need a parachute to skydive… You only need it to skydive more than once.”
[26:10] – Alex recaps the main points of the episode including what the ultimate question is and it’s value, how to determine your NPS, and when you should ask the ultimate question.
[27:20] – If you’ve already given Alex a review, write down your biggest takeaway from this episode on an index card. If you haven’t, though, please use that Aha! moment as your review for the show at this link!
[29:04] – In honor of this episode, Alex gives listeners a final gift. You can get a completely free copy of his book Alexisms by going to this link! You will also get free access to his $497 VBT e-Course!
Links and Resources:
Alex Mandossian Fan on Facebook
Alex’s Friday Live events
Marketing Online 4-Part Video Training Series
Alex Mandossian on YouTube
Alexisms by Alex Mandossian
All Selling Aside on iTunes
Alex Mandossian’s free live Friday show
Fred Reichheld’s Amazon Author Page