It's trendy these days to decry a lack of loyalty among employers, employees, customers, and even investors, and blame it for everything from drops in business profitability to the decline of civilized society. But Frederick F. Reichheld, a Bain & Company director emeritus, insists that loyalty lives--and, in fact, remains a major reason for the success enjoyed by some of the leading names in both the Old and New Economies. Loyalty Rules, his follow-up to 1996's The Loyalty Effect, shows how practices that built such relationships in organizations like Harley-Davidson, Enterprise Rent-a-Car, Cisco Systems, and the U.S. Marine Corps help improve the atmosphere for all concerned and aid in producing better bottom-line results. The bulk of the book focuses on specific, real-world applications of Reichheld's Six Principles of Loyalty: in "Preach What You Practice," for example, he outlines various ways that "loyalty leaders" can articulate relevant concepts while clarifying "how these same philosophical foundations are ... not just feel-good platitudes." Reichheld also includes sample questionnaires from his Acid Test Survey, a critical part of the prescribed diagnosis-and-remedy program that is freely available on the author's Web site. --Howard Rothman
Reichheld (The Loyalty Effect), director emeritus of Bain & Company, believes that companies today over-emphasize short-term profits at the expense of employees and customers. Reichheld offers six loyalty principles (employed by top-shelf companies such as Enterprise-Rent-a-Car and Dell Computer), including: "reward the right results"; "listen hard and talk straight"; "preach what you practice." Company profiles with comments from executives are particularly useful, though some examples have already been studied extensively (Southwest, Cisco). Nonetheless, the book makes a solid contribution.
Copyright 2001 Cahners Business Information, Inc.See all Editorial Reviews
This book provides an easy read on what principles are required to build loyalty, both among your employees and your customers. Read morePublished on March 27, 2013 by Michael Ruckman
Really good principles on loyalty. A very good attribute to learn and understand in business. Great insight on the "Loyalty Effect". Very good for communication. Read morePublished on April 15, 2009 by Amazon Customer
When the majority of CRM/loyalty books still focus on convincing top management of the importance of CRM/loyalty as if those top management are ignorant of it, the author points to... Read morePublished on March 6, 2006 by ServantofGod
In today's economy, changing jobs is considered by many as a sign of a successful career. Customers and shoppers are constantly bombarded with challenges to find a better deal. Read morePublished on February 15, 2006 by Amazon Customer
Not long ago, loyalty was out of fashion. Tom Peters said, "Forget loyalty. Try loyalty to your Rolodex. Read morePublished on December 11, 2003 by "blackduck2"
In Frederick Reichheld's 1996 book, The Loyalty Effect, he argued that a 5 percent increase in customer and employee retention can increase profits between 25 percent and 100... Read morePublished on October 22, 2003 by Max More
Mr. Reichheld has impressive credentials and I respect his intentions, yet in this book he recommends using poorly-developed surveys to understand customer or employee loyalty. Read morePublished on September 19, 2003 by Zack