ReichheldFrederick F. Lists with This Book. Reichheld makes the powerful economic case for loyalty — freserick takes you through the numbers to prove it. MeyerNatalie J. How do we create loyal customers?
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Tojanos Never has one book helped crystallize more disparate fundamentals of business than this one. Apr 07, Waseem rated it liked it. Ron rated it it was amazing Aug 30, The Loyalty Effect will change the way you think about loyalty, profits, and the nature of business. The first is that loyal customers are less frederuck to serve than non-loyal customers.
I read this book because in my job, I deal with customer loyalty. He is also the author of Loyalty Rules! I would not believe what a huge difference that makes if I had not seen it myself.
BolmanTerrence E. A good read for an important perspective on selection, retention and loyalty across stakeholders. Learn more about Amazon Prime. We specialize in customer loyalty marketing, reward program design, and loyalty strategy. Adam rated it liked it Apr 06, And since value is the ratio of quality to price, price is always a factor in a deflection.
No trivia or quizzes yet. Reichheld No preview available — In addition, loyalty generates a spiritual energy that powers the value creation process that is at the heart of sustained business success.
Chief Customer Officer 2. My library Help Advanced Book Search. Amazon Second Chance Pass it on, trade it in, give it a second life. To see what your friends thought of this book, please sign up. The cost efffect loyalty — or more accurately, the cost of defection is the key theme of this book. Amazon Advertising Find, attract, and engage customers.
The Loyalty Effect will change the way you think about loyalty, profits, and the nature of business. Reichheld shows why companies that ignore customer defections face a future of low growth, weak profits, and shortened life expectancy.
Other editions — View all The Loyalty Effect: Good read — lots of repetition throughout the book, but good way of giving examples of things many people already know I hope Most Related.
Frederick F.Reichheld – The Loyalty Effect
Even a seemingly insignificant increase in retention can have an exponential impact on profitability Relative retention is a better predictor of profits than market share, scale, cost position or other moats Defection is often the most powerful hidden force for low profitability It is much more expensive to serve a new customer than an old one Hiring well is crucial. Once you get the right people on board, you have to make sure to continually educate, train, inspire and incentivize employees to make creating value for loyal customers their top goal. Incentives should get employees to want to learn themselves, improve over time and teach others. Learning leads to value creation which leads to loyalty and back to learning. Many loyalty leaders often ignore short term results, instead invest for the future wellbeing of their customers and employees which will eventually benefits investors Measurement Stresses the importance of having hard numbers which can be measured over time in order to realize the enormous benefits loyalty produces. Carefully choose the sales channel to attract the right not necessarily the most customers Avoid certain customers as they cause headaches and are more expensive in the long run. Is the company bringing in the right customers and employees?
ISBN 13: 9780875844480