Loyalty Effect : The Hidden Force Behind Growth, Profits and Lasting Value Paperback
by Thomas Teal
Loyalty is by no means dead. In fact the principles of loyalty ...are alive and well at the heart of every company with an enduring record of high productivity, solid profits, and steady expansion.
From "The Loyalty Effect". The business world seems to have given up on loyalty: many major corporations now lose - and have to replace - half their customers in five years, half their employees in four, and half their investors in less than one.Fred Reichheld's national bestseller "The Loyalty Effect" shows why companies that ignore these skyrocketing defections face a dismal future of low growth, weak profits, and shortened life expectancy.
Reichheld demonstrates the power of loyalty-based management as a highly profitable alternative to the economics of perpetual churn.
He makes a powerful economic case for loyalty - and takes you through the numbers to prove it.
His startling conclusion: even a small improvement in customer retention can double profits in your company. "The Loyalty Effect" will change the way you think about loyalty, profits, and the nature of business.
Fred Reichheld is a Director Emeritus of Bain and Company and a Bain Fellow. He is also the author of "Loyalty Rules!".
- Format: Paperback
- Pages: 352 pages
- Publisher: Harvard Business Review Press
- Publication Date: 01/08/2001
- Category: Business strategy
- ISBN: 9781578516872
Showing 1 - 1 of 1 reviews.
Review by stacyinthecity
I read this book because in my job, I deal with customer loyalty. How do we create loyal customers? What can we do to earn their loyalty? This book went into that and much more.The book took a few case studies and showed how having loyal customers brought increased growth. The author then showed how this was possible by the numbers. It is pretty impressive. Clearly, more loyalty is better. But how do you achieve it?The book talked about how to attract the right customers and how to keep them. It also discussed how having loyal employees and even investors will help the business. Fundamentally, it is a culture of loyalty that must be fostered within the business.