The One Number You Need to Grow

Most businesses grow through referral and recommendation. We are social animals and we place high value on what our ‘tribe’ of colleagues and friends would recommend. The reputation of your business is one of it’s most valuable assets; reputation translates to how your business or brand makes people feel and ultimately their likelihood of recommending to a friend or colleague. 

The ‘godfather’ of customer satisfaction is Fred Reichheld, who developed the Net Promoter score, a uniquely simple way of measuring how satisfied your customers are through the likelihood that they will recommend you to friends and colleagues (see The One Number You Need to Grow https://hbr.org/2003/12/the-one-number-you-need-to-grow ).

Reputation is hard earned and easily lost, especially in the digital always-on-age. When considering this also reflect on how you manage your (client’s) online brand reputation. For example how would you feel about a brand that revealed your closely guarded data to criminals? BA just got fined for doing just this (https://ico.org.uk/about-the-ico/news-and-events/news-and-blogs/2020/10/ico-fines-british-airways-20m-for-data-breach-affecting-more-than-400-000-customers/ )

One easy and relatively cheap method of guarding your online brand reputation is through online brand protection tools like Lexdech. (info@lexdech.com         +44 203 911 5539 ​)