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Reichheld, a director of Bain & Co., a strategy consulting firm in Boston, takes an old-fashioned concept?loyalty?and shows its relevance to customer retention and long-term profit growth. His position seems obvious, but its import has been lost amid the rapid turnover in the current business climate. He notes that major companies replace half their customers in five years, half their employees in four and a half and their investors in less than one. To counteract this trend, he recommends loyalty-based management, in which businesses not only make a conscious effort to retain customers but also develop strategies for attracting the kind who are likely to remain loyal. Reichheld also posits a "cause-and-effect relationship" between employee and customer loyalty. Writing with Teal, a senior editor at Bain & Co., he makes his point with examples from State Farm, Toyota/Lexus and others that have improved their bottom lines and insured long-term growth by developing loyalty. Illustrations. 50,000 first printing; $80,000 ad/promo; author tour.
Copyright 1996 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
Much has been written recently lamenting the loss of loyalty in all aspects of society. This loss seems magnified in the corporate world, where job change is often the only ticket for getting ahead and where companies regularly abandon communities and downsize longtime workers out of jobs. In White-Collar Blues, Charles Heckscher last year surveyed the state of middle-management loyalty and offered solutions for rebuilding loyalties. Now Reichheld, director at a strategy consulting firm with its own "loyalty practice," analyzes not only employee but also customer and investor loyalty and demonstrates the measurable results that strong loyalties have on corporate profits. Reichheld notes that traditional accounting systems do not show the "loyalty effect" and offers gauges that do. To make his case, he uses such companies as Lexus, John Deere, and Leo Burnett--the "loyalty royalty" --as examples. David Rouse --This text refers to an out of print or unavailable edition of this title.See all Product Description
I absolutely loved this book; a 'game changer' in my mind in how I approach and view business growth challengesPublished 13 months ago by Customer Strategy Consultant
Simply the best business book I've read in years. An invaluable framework for long-term success.Published on Dec 21 2003 by Len
“Loyalty is dead” begins this classic about loyalty. But after you’ve read this book, you'll know that pursuing loyalty pays off. Read morePublished on Nov. 28 2001 by Peter Pick
I would recommend the first half of this book (chapters 1-4 & 6) to any business manager or aspiring upstart. Read morePublished on Jan. 15 2001 by Craig
Reichheld lays out both why loyalty matters, and why difficulty in measuring the impact of loyalty has made managers undervalue it in the past. Read morePublished on July 9 1999 by Ray Campbell
For those who think loyalty cannot be attained by either your customers or your employees, think again. Read morePublished on March 30 1999 by Jim Altfeld
It is a well known fact, but almost impossible to document in most companies, that it is less expensive to keep customers than to find and acquire new ones. Read morePublished on March 29 1999
This is an outstanding book for explaining and exploring the economic value of keeping a customer. In explaining those benefits, it becomes clearer how important and affordable it... Read morePublished on Jan. 28 1999 by Donald Mitchell