#160 Rethinking Valuation: Why Customer Metrics Matter More

What if the financial metrics you rely on to measure your company’s success are actually steering you away from long-term customer loyalty and sustainable growth?

In our latest episode of the Delighted Customers podcast, live from Harvard Business School, I dive into this burning question with Rob Markey, professor at Harvard and seasoned veteran at Bain. Rob challenges the conventional wisdom around company valuation, urging us to look beyond the income statement and balance sheet, and instead, consider the real engine driving revenue—our customers. The impact of this discussion is huge: by focusing on customer behavior and relationships, leaders can uncover hidden risks, make smarter trade-offs between short-term gains and long-term health, and build models for enduring shareholder value. If you think financials are telling you the whole story, this episode will make you think twice.

Why should you listen to Rob Markey? Rob doesn’t just teach at Harvard Business School—he’s one of the world’s foremost experts on customer value, business strategy, and the metrics that really matter for growth. As co-creator of the Net Promoter System, his practical frameworks have transformed how organizations like Bain & Company help clients create true customer-centricity. Rob’s guidance blends academic rigor with real-world experience, making complex ideas actionable for any business leader looking to future-proof their organization.

Here are three compelling questions Rob answers on the show:

• Why are traditional accounting metrics like revenue and profit reporting missing the bigger picture of customer value?

• How can C-suite leaders balance inevitable short-term pressures with decisions that build loyalty and drive long-term growth?

• What specific steps can leaders take to re-evaluate their customer base and transform the way they forecast and measure company success?

Tune in now and subscribe for more thought-provoking episodes! Find the Delighted Customers podcast on Apple Podcasts and Spotify, or listen on any of your favorite podcast platforms. Make sure to leave a review to help spread the word to more customer-obsessed leaders.

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Meet Rob Markey

Rob Markey is a professor at Harvard Business School and a globally recognized expert in customer strategy, business growth, and valuation. Before Harvard, Rob was a Senior Partner at Bain & Company, where he led Bain’s global Customer Strategy & Marketing practice. He’s best known as the co-creator of the Net Promoter System (NPS), which has revolutionized how businesses measure customer loyalty and advocate for customers at the heart of their growth strategy. Markey has consulted with hundreds of organizations worldwide, helping them shift from product-centric to customer-centric models.

Rob’s work bridges the gap between academic thought leadership and hands-on business advising. His Harvard course explores these crucial topics, training the next generation of leaders to see their customers—not just their financials—as the core asset of their business. Rob’s mission is to help executives see—and manage—the trade-offs between short-term targets and the actions that secure long-term profitability and loyalty. His insights are published in leading journals and he is a sought-after speaker at global events.

Rob's previous appearances on the show:

• #15: Pt. 1 – The Room Where It Happened: The Net Promoter Backstory with Rob Markey (Part 1) — Episode 15 Amazon Music

• #16: Pt. 2 – Measuring and Managing Customer Loyalty in a Digital World with Rob Markey (Part 2) — Episode 16 podcastrepublic.net

• #65: The 3 Dimensions of Customer Value Creation with NPS Co-Inventor, Rob Markey (Part 1 of 2) — Episode 65 Apple Podcasts+1

• #66: Rob Markey on Building Consistent Loyalty Through Trust and Emotional Connection (Part 2 of 2) — Episode 66 Apple Podcasts+1

Connect with Rob Markey on LinkedIn.

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Show Notes & References

• Fred Reichheld & Net Promoter System: Net Promoter System

• Rob Markey’s Harvard Business School profile: Harvard Faculty Page

• Bain & Company: Rob Markey at Bain

• Recommended prior episodes featuring Rob Markey: See our archive for previous episodes.

• Yoshida Restaurant, Boston: Yoshida Boston

• Harvard Business School: HBS

Listen, subscribe, and join the conversation—your customers (and your bottom line) will thank you.