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The Loyalty Effect: The Hidden Force Behind Growth, Profits, and Lasting Value Paperback – 1 Aug 2001

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Product details

  • Paperback: 352 pages
  • Publisher: Harvard Business School Press; New edition edition (1 Aug. 2001)
  • Language: English
  • ISBN-10: 1578516870
  • ISBN-13: 978-1578516872
  • Product Dimensions: 23.5 x 15.6 x 2.5 cm
  • Average Customer Review: 4.8 out of 5 stars  See all reviews (16 customer reviews)
  • Amazon Bestsellers Rank: 101,849 in Books (See Top 100 in Books)
  • See Complete Table of Contents

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Review

"E-Loyalty: Your Secret Weapon on the Web," with Phil Shefter (July/August 2000) "Learning from Customer Defections," (March/April 1996) "Loyalty-Based Management," (March/April 1993) "Zero Defections: Quality Comes to Services," with Earl Sasser (September/October 1990)

About the Author

Fred Reichheld is a Director Emeritus of Bain & Company and a Bain Fellow. He is also the author of Loyalty Rules!.

Inside This Book

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First Sentence
"LOYALTY IS DEAD, the experts proclaim, and the statistics seem to bear them out." Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews

4.8 out of 5 stars
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Most Helpful Customer Reviews

8 of 8 people found the following review helpful By A Customer on 10 Jan. 2000
Format: Hardcover
As part of an overall research process into CRM, I came across this book from Fred Reichheld. To say I was enthralled would be an understatement! Reichheld has been able to get to the heart of why so many companies seem to be in a downward spiral of faster and faster responses to sales problems which seem only to make matters worse.
It could be argued that there is not much new in what Reichheld says and looking back 25 years I recall successful companies that were practising what this book preaches.
But recent years have seen an overwhelming focus on profits, growth and short-termism.
Reichheld argues that loyalty must be viewed "not as a tactic but as a strategy." He goes on to say, "The central tenet of this philosophy is that the purpose of a business is to create value, not simply to create profit."
That isn't rocket-science, it's good common-sense. But just as the knowledge of our fore-fathers is being lost under the deluge of 'solutions' from medical science, so it appears that modern business is forgetting the fundamentals of success from just a couple of decades ago.
Any manager or owner of a business that is worried about acquiring and retaining profitable customers MUST read this book. To read it and reject the messages is fine. To read it and realise the sense it conveys is excellent. To ignore the book is a crime.
In more than 35 years in business, I can't remember a book that has given me more insight into what we are all trying to do than The Loyalty Effect by Frederick Reichheld.
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4 of 4 people found the following review helpful By A Customer on 25 Nov. 1998
Format: Hardcover
The Loyalty Effect takes a long, detailed look at the economics of loyalty, providing concrete examples to support the conclusion that the goal of a business must be the creation of sustainable value for customers employees and investors.
Reichheld takes that which many of us hold as "intuitively correct" and adds substance to our intuition. By translating loyalty into the language of accounting and finance, for example, he proves over and over again, that loyalty is a pre-requisitie for proitability. He doesn't argue against profitability...he merely clarifies the order of priorities for management.
I'm a former IBMer and I now run my own management consulting firm. Reichheld's firm is in fact a competitor, and yet I strongly recommend this book to any decision-maker who is interested in breaking through the fluff and securing real-world advice regarding specifc ways to sustain the health of any company.
Rather than reading the "visionaries", the turnaround specialists and the various and assorted geniuses read this. Reichheld, offers a straightforward summary of empirical evidence that correlates high retention rates (of customers and employees) with long-term profitability. While many other authors seem to be pushing their own agendas (and egos), Reichheld is summarizing the collective experience of numerous companies around the world.
Read this book. It will guide you to better business performance whether you're in marketing, finance, engineering, operations, HR or window-cleaning. If you're tired of losing customers and employees, this book may help save your butt! (if you're patient and willing to ask some difficult questions).
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4 of 4 people found the following review helpful By A Customer on 28 Jan. 1999
Format: Hardcover
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 is to keep customers. Unlike most business books, which seem to be written by people who cannot use numbers, this one quantifies its points. It also shows you how to do the same for your business. As such, it is a very practical and important resource for every company. I strongly urge you to read and apply these lessons to your business. In many companies, getting new customers is seen as the solution to virtually every problem. However, a lot of times companies have to get new customers because they have disappointed the old ones. You are better off to find out why you are losing customers, and do something about it. Otherwise, you will just spend a fortune to add new customers who will soon leave you for the same reasons. This book also explains a well-known investing phenomenon, that companies with high loyalty rates are great stocks to own (like Coca-Cola, Gillette, and so forth). Did Warren Buffett know this all along? I should mention that I am a management consultant, but have no connection to the firm that wrote this book.
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5 of 5 people found the following review helpful By D C Quinton on 12 Sept. 2004
Format: Paperback Verified Purchase
To put as simply as I possibly can, this is an utterly profound business bible. The way business should be, explained with astounding clarity.
This is the best book I have ever read and the day I read something more profound and true to real business success, will be a very surprising one...
This book will most definitely provide the foundation of all my future business activities.
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3 of 3 people found the following review helpful By A Customer on 9 July 1999
Format: Hardcover
Reichheld lays out both why loyalty matters, and why difficulty in measuring the impact of loyalty has made managers undervalue it in the past. He shows how loyal relationships with employees, suppliers, customers and investors all contribute to a company's long term success.
His insights are profound for anyone building a company. We have used his insights to build our business, and have benefited enormously from the viewpoints expressed in this book.
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