Control What You Can Control with Rob Markey

Success Fundamentals

In this episode, Kris Sykes and Brian Goldsack talk to Rob Markey, co-creator of the Net Promoter Score, a tool widely used in interpreting customer loyalty. Rob has spent his professional career studying customer experience and loyalty and has deep insight into how customer feedback can directly improve a company’s products, services, and value. Rob’s ideas put the customers back into the center of doing business: a concept that isn’t new, but was sidelined when businesses grew from the hands of artisans to corporations during the industrial revolution.

HIGHLIGHTS

• Business metrics vs real value creation
• Journey to working on customer retention and loyalty
• What is customer value?
• As businesses grew, so did the gap between customers and business owners
• Evolution from shareholder capitalism to customer capitalism
• Control everything you can control
• Frequently ask direct feedback from your customers
• Create an environment where employees can be creative
• The making of the Net Promoter Score
• Success is a balanced life that is happy and making positive impact
• Money can be a tool to make people's lives better
• Power is an illusion

QUOTES

Rob: "Business metrics and goals often aren't fully aligned with real value creation. In a certain way, my whole career has been about trying to figure out how to realign an understanding of what it means to earn customer loyalty with what it means to earn value and create value for business. And essentially, align shareholder value and customer value in large organizations so that they don't feel like they're in conflict."

Rob: "Customer value is two things: it's the value that you deliver to your customers, and it's the value of the customer. So you earn customer loyalty by delivering value, and in doing so, you also earn the customer's business and therefore, profitability and longevity, retention if you will. You are in the opportunity to satisfy more of their needs or to earn more of their business. And if you're doing it well, customers should then be very happy to share value back with you in the form of fees or purchases, or whatever."

Rob: "The concept of customer value is the very essence of any business.”

Rob: "The best thing you can do include being open to feedback and trying to overcome human nature and avoid being defensive when you get feedback that hurts a little bit, and learn from it."

Rob: "It's not always about being right, or getting to the right answer, or getting the decision made in the right way. A lot of what makes you successful in effecting change is earning the trust of the people that you're working with."

Rob: "Are you collecting feedback from customers? And I'm not saying surveys. I'm saying, are you asking customers for feedback in a dialogue with enough frequency that you're getting the straight scoop from them, not the scoop filtered through your frontline sales people, or your store staff?"

Rob: "The essence of power is the ability to continue to earn the trust and respect of those over whom you have influence or power."

Follow Robert in the links below:

• Website: https://www.robmarkey.com/
• Linkedin: https://www.linkedin.com/in/robmarkey/

Follow Success Fundamentals on the following links below:

• YouTube: https://www.youtube.com/channel/UC4XCvuwxnFi5_7C6Ncm12xQ
• LinkedIn: https://www.linkedin.com/company/success-fundamentals™
• Facebook: https://www.facebook.com/successfundamentalspodcast
• Instagram: https://instagram.com/successfundamentalspodcast