The Loyalty Effect: The Hidden Force Behind Growth, Profits, and Lasting Value Paperback – 1 Aug 2001
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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)
About the Author
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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Top Customer Reviews
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.
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.
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).
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.
Most Recent Customer Reviews
Brilliant book......looks at the effect of generating loyalty among customers, suppliers, financiers et al......Great case studies!Published 11 months ago by L. Lee Bowman
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 morePublished on 7 Feb. 2006 by Robert Morris
For those who think loyalty cannot be attained by either your customers or your employees, think again. Read morePublished on 31 Mar. 1999
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 29 Mar. 1999
This book makes a really compelling case for managing under the paradigm of loyalty underlying the foundation of every business. Read morePublished on 26 Dec. 1998
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 morePublished on 29 Oct. 1998
The book covers the process and hard benefits of building loyalty among 3 areas - customers, employees, and investors. Read morePublished on 22 Aug. 1998
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