Loyalty at Work

When companies start making business decision by looking only at the financial reports, they miss out on the bigger picture. In this video Fredrick Richheld, an expert in the field of loyalty says, “We have been blinded to what actually drives the profitable growth.” In today’s intense competition, businesses need to generate continuous stream of happy customers who are likely to refer them.

Many businesses have realized the importance of customer loyalty today. As a result, these businesses are prospering in the low growth industries. Chickfil-A, Enterprise Rent-ACar , HarleyDavidson, eBay and Southwest Airlines are some of the companies that have managed to outrun competition even after being a follower in a low growth market. How did they do that? Well the simple answer is, “Loyalty.”

These companies are not only seeking loyalty from their customers but also from their employees. They have been putting in efforts to make it happen by giving the best value and experience to their customers through their employees who are happy and proud to be a part of these organizations because they are being taken care of. My take away from this video is, “You build relationship worthy of loyalty by honoring this simple idea of treating your customers and employees the way you want to be treated.”

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