#65: The 3 Dimensions of Customer Value Creation with NPS Co-Inventor, Rob Markey, Part 1 of 2
The Three Dimensions of Customer Value Creation Rob Markey ought to know a thing or two about customer loyalty. Rob was a CX expert and thought leader at Bain long before he and his colleague Fred Reichheld introduced Net Promoter to the world. He is a leader in Bain's Customer Customer Strategy and Marketing practice and the co-author of The Ultimate Question 2.0 with Fred Reichheld. This episode was originally intended as a deep dive on customer loyalty through the customer lifecycle for my Michigan State University Master's students but it was just too good to not share in an episode. As usual, Rob brings insights and wisdom to empower anyone interested in creating value for their customers starting with the three dimensions of value according Bain uses in their approach with clients. Also included in this episode: 👉 The 3 dimensions of value 👉 Examples of differentiating from competitors through unique features and exceptional customer service 👉 How different dimensions of value are weighed differently at various customer lifecycle stages 👉 Focusing on revenue and cost forecasting in a language understood by stakeholders 👉 Copying versus learning and synthesizing from others 👉 Warning against going down a technology or data-led path without clear goals 👉 Empirical evidence on NPS as a predictor of a company's growth rate and a whole lot more, so much so that we had to break it into two episodes. Be sure to subscribe so you don't miss Part 2 and insights from future episodes. Meet Rob Rob Markey is a leader in Bain’s Customer Strategy & Marketing practice. He joined our firm in 1990, and has led assignments in the financial services, telecommunications, retailing, media, professional services, health care, building equipment and food processing industries. Rob is an expert in customer and employee loyalty, new product development and customer service strategies. He has extensive experience with direct marketing, new customer acquisition and cost reduction for clients in the retail banking, credit card and insurance businesses. Rob leads the NPS Loyalty Forum, a group of approximately 35 senior executives from loyalty-leading companies around the world, such as The Vanguard Group, American Express, JetBlue, Telstra, TD Bank, LEGO, Progressive Insurance, PwC and Intuit. He has published numerous articles on various aspects of customer experience and loyalty in publications such as the Harvard Business Review. He is the co-author of The Ultimate Question 2.0: How Net Promoter Companies Thrive in a Customer-Driven World, by Harvard Business Review Press, a New York Times and Wall Street Journal bestseller. Rob is also the host of The Customer Confidential Podcast. He formerly served as head of the firm’s Customer Strategy & Marketing practice. Prior to joining Bain, he developed competitive strategy, led business development and served in product marketing for LEXIS/NEXIS and the IBM Corporation. Rob earned an MBA from the Harvard Business School. He is a graduate of Brown University, where he received a Bachelor of Arts degree in economics. Subscribe to The Delighted Customer Podcast so you don't miss an episode: https://www.empoweredcx.com/podcast Subscribe to The Delighted Customer Newsletter for practical tips and insights: https://www.empoweredcx.com/delightedcustomersnewsletter