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"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)
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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
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 & Company and a Bain Fellow. He is also the author of Loyalty Rules!.
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First Sentence
"LOYALTY IS DEAD, the experts proclaim, and the statistics seem to bear them out." Read the first page
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
"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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Most Helpful Customer Reviews
7 of 7 people found the following review helpful
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.
4 of 4 people found the following review helpful
Format:Paperback
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.
3 of 3 people found the following review helpful
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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Most Recent Customer Reviews
How to Achieve and Then Sustain Loyalty
I read this book when it was first published and recently re-read it. Those who have checked out my reviews of other books which address many of the same issues already know that I... Read more
Published on 7 Feb 2006 by Robert Morris
The most valuable business book I've ever read
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 more
Published on 9 July 1999
For those who think there is no such thing as loyalty!
For those who think loyalty cannot be attained by either your customers or your employees, think again. Read more
Published on 31 Mar 1999
Why Keeping Your Customers Happy Makes Good Business Sense
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 more
Published on 29 Mar 1999
A compelling book, and excellently written
This book makes a really compelling case for managing under the paradigm of loyalty underlying the foundation of every business. Read more
Published on 26 Dec 1998
The most valuable business book I've read in years!!!
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... Read more
Published on 25 Nov 1998
A book that all people should read.
Whatever profession or business you are involved in this book is a must read! I will own and/or run my own business one day and I promise that it will be run on all the... Read more
Published on 29 Oct 1998
Excellent analytical overview to loyalty's importance
The book covers the process and hard benefits of building loyalty among 3 areas - customers, employees, and investors. Read more
Published on 22 Aug 1998
One of those rare business books that presents facts
I must admit, I haven't read any other "leading loyalty" books so I don't know what I'm missing. However, I thought this book was excellent. Read more
Published on 10 July 1998
Very insightful...yet somehow flawed
Reichheld's The Loyalty Effect is by far one of the most mediocre books on business loyalty that I have ever read. Read more
Published on 14 Jun 1998
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