Press Release: ‘Godfather of loyalty’ Fred Reichheld takes on advisory role to Mention Me
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We've appointed Fred Reichheld, creator of the Net Promoter Score (NPS), as an advisor to accelerate our ambitious global growth trajectory.
Widely regarded as ‘the godfather of loyalty’, Reichheld created NPS to track customer experience, a metric now used by over 70% of FTSE 500 companies. As well as authoring several best-selling books on the loyalty business model and loyalty marketing, he joined the management consultancy Bain & Company in 1977, became a partner in 1981 and became the firms’ first Bain Fellow in 1996. In 2003, Consulting Magazine named him as one of the world’s “25 Most Influential Consultants.”
In his new role, Reichheld will advise us on product development, expansion into the US, and help to build on our presence as the world’s first true customer advocacy platform.
This will include advising on building Earned Growth – a concept recently introduced by Reichheld, linking financial performance to the customer experience – into the Mention Me platform.
“Too many brands fail to measure how much of their business is coming from customers buying more and referring their friends,” he said. “But referrals are the most essential ingredient for sustainable business growth and provide an unbeatable economic advantage. They’re the best indicator that a brand is pursuing the right purpose and destined for success.”
“Mention Me’s commitment to advocacy-first reflects my philosophical belief that great companies treat customers so well that they refer their friends. Its technology and expertise has already transformed the referral process into something brands can measure and optimise; I’m looking forward to evolving this as we strive to put customer advocacy at the heart of every successful business.”
Since 2013, our award-winning platform has been empowering brands to turn customer advocacy into a powerful sustainable growth driver. Our 500-strong client base includes ASOS, Charlotte Tilbury, PUMA, ManyPets and Nutmeg.
Andy Cockburn, CEO of Mention Me, added: “Fred is the world-renowned expert on customer loyalty, so to bring him onboard as an advisor and investor marks a key milestone for Mention Me.
The question at the heart of NPS is “how likely are you to recommend this brand to your friends?”. Mention Me takes this intent and makes it real, driving promoters to actively advocate for the brand. Our partnership with Fred will enable us to take this approach to the next level.
As we double down on realising the true value of customer advocacy for brands, underpinned by the Earned Growth metric, I anticipate seeing a real step change in how marketers and senior leadership teams think about driving sustainable growth for their businesses.”
See what else Fred Reichheld had to say about the power of customer advocacy in our video series.