The Loyalty Effect: The Hidden Force Behind Growth, Profits, and Lasting Value
The Loyalty Effect: The Hidden Force Behind Growth, Profits, and Lasting Value
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Manufacturer: Harvard Business School Press
Author: Frederick F. Reichheld
Binding: Paperback
Publication Date: 2001-09-15
Publisher: Harvard Business School Press
Label: Harvard Business School Press
Number Of Pages: 323 Features:
Editorial Review:
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. Cached date: AWS Called=true You may also be interested in these products:
An Excellent Analysis with Solid Prescriptions for "How To" 2008-06-25 I have been reading this book and, at the same time, Customer Specific Marketing by Brian Woolf. Both a are great tools for anyone who is workign to crack the code. Truth is, he nails it. Focussing on maximizing and maintaining the value to the customer is - and should be - the holy grail for any business. This book has reignited my belief in this critical principle and has helped to get me focussed again on what we can do to continually improve the experience of our 17 million members.
Holistic Approach to Management 2007-07-30 I found this book very useful as I am working on a new start-up business and selecting and keeping personnel is key. In this book you find practical examples of how to do this and you see the enormous benefit it is to have loyal employees.
This is a must for anyone starting and/or working at turning a business around.
Great learning tool 2007-01-27 This is full of great concepts that are easily put to practice with effective results.
The book that started it all! 2007-01-14 This book above any other, rekindled my passion to fully understand the concept of 'loyalty'. Although it was written quite some time ago now, having its' genesis back in the 1980's, it remains an outstanding work on this topic.
Clearly, thinking has evolved over time and practical application of this approach has clarified and expanded our understanding of this topic, yet the book presents a strong argument for developing a deep appreciation of loyalty and it's impact on business performance.
The book is well researched. Well written. Easy to read, with a good flow. Full of interesting case studies and supporting data this publication is a must read for anyone interested in the topic.
Much attention is today being focused on Customer Loyalty yet the proposition that this book puts forward is that Customer Loyalty is only one third of the argument. Employee loyalty and shareholder loyalty both play a significant role in delivering benefits back to the corporation. Few books have expounded the proposition as thoroughly and completely as this one.
A way to earn consistently higher profits 2006-09-02 The Loyalty Effect is an analysis of the effects of loyalty. The author, Frederick F. Reichheld, takes a rigorous looks at a variety of successful companies and finds that those "that earned superior levels of customer loyalty and retention also earned consistently higher profits" and sustainable levels of growth.
The examples and data shown in this book give a clear picture of how loyalty can be earned through strong value creation and why this leads to long-term profitability and growth. Beyond customer loyalty, the author also looks at how the right employees, the right investors and the right partnerships can add to the overall strength of a company. The evidence that Reichheld presents in support of loyalty-based management is thought provoking and compelling.
While the author himself doesn't proclaim this that style of management is a magic "cure all", Reichheld's argument is extremely convincing and the research supporting his claim is clear: loyalty makes good economic sense. People running businesses, big and small, can benefit from the ideas presented in The Loyalty Effect. I highly recommend this book.
2008-06-25