Loyalty as a Linchpin: A Conversation with Fred Reichheld is a six-part series focused on loyalty and sustainability in the arts and cultural industry.
The series features TRG’s President & CEO Jill Robinson with Fred Reichheld, the author, researcher, and management consultant The New York Times refers to as the person who “put loyalty economics on the map.” Reichheld is often known from the Net Promoter System and Score he created, and his more than 40-year history of studying the economics of loyalty at the management consulting firm, Bain and Company. TRG Arts believes Reichheld is uniquely positioned to help arts and cultural leaders understand what impact loyalty can have on the sustainability and growth of the arts and cultural industry.
In the first episode of this series, Jill and Fred set the stage for their conversation about why this topic is so crucial to our sector, what we can all learn about leadership and people, and the impacts we can have by studying for-profit industries.
In the second episode of this series, Fred and Jill discuss why he prefers open-ended feedback and conversation over traditional surveys, and how that inspired him to create the Net Promoter Score and System. Fred also talks about what it takes to measure the effectiveness of a mission, and how arts organizations can use data to test assumptions and learn quickly to continuously improve.
In the third episode of this series, Fred and Jill discuss how to test hypotheses and use real-time feedback to help prioritize the best ideas to ensure valuable time and resources remain focused on the right initiatives.
In episode 4 of TRG's Loyalty as a Linchpin series, Fred and Jill break open the employee side of loyalty. They discuss what it takes to build a company culture where you get the most out of everyone on your team. Fred and Jill poke at the challenges of measuring how your people contribute by looking only at financial outcomes and twice-annual performance management reviews. And, what it takes to make the shift to an organization where People Do.
In Episode 5, Courageous Leadership, Fred and Jill discuss how important it is to align the values of an organization with the way people who carry out the mission of the work. Seeking out feedback is central to this. And, creating a culture where everyone, starting with senior leadership, is accountable for receiving feedback to understand whether they are enriching the lives of the people that their work touches. Courageous leaders help their organizations thrive by engaging in feedback conversations with their staff and patrons and then acting on it.
In Episode 6, Good Profits and Bad Profits, Fred and Jill discuss how a focus on short-term revenue, based in exploitative tactics, can backfire by decreasing patron loyalty and diminishing repeat attendance or overall investment.