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A company's promoters are worth thousands more than detractors

A company's promoters are worth thousands more than detractors

Wealthy customers who recommend their bank to others are worth $9,500 more to that bank than customers who dislike it.

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A company's promoters are worth thousands more than detractors
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From the Harvard Business Review Daily Stat:

An affluent customer who's willing to recommend his or her bank to friends is worth $9,500 more to the company than a similarly wealthy customer who spreads negative reports about it, according to The Ultimate Question 2.0, by Fred Reichheld with Rob Markey. Promoters of a business are usually less price sensitive than other customers, and they appreciate the overall quality they receive from the company; the opposite is true for detractors, who have a negative lifetime value, the authors say.


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