I just read an interesting article entitled “The One Number You Need To Grow,” by Frederick F. Reichheld. The article explores a different way of calculating the ratio of clients who promote your firm to the detractors.

The result is a measure of loyalty, which is absolutely crucial in winning word-of-mouth referrals for law firms. Simply put, from the article:

If growth is what you’re after, you won’t learn much from complex measurements of customer satisfaction or retention.  You simply need to know what your customers tell your friends about you.

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