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Michael Covel's Trend Following

Ep. 843: Rob Markey Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6732 Ratings

🗓️ 21 February 2020

⏱️ 49 minutes

🧾️ Download transcript

Summary

My guest today is Rob Markey, a partner and director at Bain & Company and the founder of the firm's Global Customer Strategy and Marketing practice. He is a coauthor of The Ultimate Question 2.0 and is the host of the Net Promoter System podcast.

The topic is his writing Are You Undervaluing Your Customers?

In this episode of Trend Following Radio we discuss:

  • Bain & Company partner Rob Markey argues most companies are too focused on earnings at the expense of customers. Instead they should measure and report "customer value" to investors, like Costco, Amex and Humana do, with consistent metrics that allow investors and other stakeholders to judge a company's true value compared to competitors.

Jump in!

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I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.

To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/

You can watch a free video here: https://www.trendfollowing.com/video/

Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast

My social media platforms:
Twitter: @covel
Facebook: @trendfollowing
LinkedIn: @covel
Instagram: @mikecovel

Hope you enjoy my never-ending podcast conversation!

Transcript

Click on a timestamp to play from that location

0:00.0

This is trend following radio where great thinking comes alive.

0:10.9

Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.

0:21.2

I am your host, Michael Coval.

0:24.0

Not filtered, raw, honest.

0:27.4

That's my passion.

0:33.4

My guest today is a partner and director at Bain and Company.

0:41.3

He is founder of the firm's global customer strategy and marketing practice.

0:45.3

My guest, Rob Markey. Today we're going to jump into something that we all know is important, regardless of how we're applying it in our life.

0:53.3

And this is where Rob it in our life.

0:56.8

And this is where Rob goes in his work.

0:59.9

The customer loyalty economy.

1:01.9

A big picture overview?

1:05.7

So many damn companies are so focused on earnings.

1:08.3

They don't care about the customers.

1:13.7

Now, when I say that, immediately think of the business, whatever that business is,

1:20.5

that you give your money to an irregular basis in spite of them, meaning they get your money with their customer service and how they treat you is shit.

1:25.9

Yeah, you could instantly think of those companies. So when you really get under the hood,

1:32.8

customer loyalty is an asset. It's not on the balance sheet, but it's damn important. And it has

1:41.0

huge value. Without any further delay, without any further warm-up,

1:46.5

let's jump right into my guest today, Rob Markey of Bain & Company.

2:07.2

In advance of this call today, Rob, I started thinking to myself and I thought, well, some people are going to hear this example and they're going to go, uh, whatever.

2:11.4

I thought with your background, it would be a good place to start and there's going to be

...

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