The statistical validity of the Net Promoter Score depends on response rates; the higher the rate, the greater the accuracy. Low response rates can easily undermine a company's Net Promoter System, causing leaders to overlook burgeoning problems or wrongly assume that customers are happy.
In this episode, host Rob Markey and Maurice FitzGerald, retired vice president of customer experience at HP Software and author of Net Promoter—Implement the System, tackle common questions about response rates.
Learn more: Creating a Reliable Metric
People feel good when they look good—it doesn't take a fashion expert to tell you that. But that feeling compounds when you make it easy for people to access clothing that's unique, fits well and suits the occasion.
That's the Rent the Runway approach. The company launched in 2009 with a mission to help women feel their best by renting them designer clothing and accessories through an innovative subscription model. The service has been a huge hit, allowing the company to earn more than 6 million members and more than $190 million in venture capital.
In this episode, Rent the Runway's CEO and Cofounder Jennifer Hyman discusses the company's disruptive business model and how it built a loyal following in one of the most fickle industries out there.