Book Review Loyalty Myths Hyped Strategies That Will Put You Out Of Business And Proven Tactics That Really Work
Did you ever surprise if a number of the ones age vintage sayings approximately advertising are true? For instance, weâve all heard âIt expenses 5 instances greater to acquire a new customer than to hold a contemporary consumer.â But does all of us have any evidence of that? That is exactly what a set of authors got down to do in Loyalty Myths: Hyped Strategies That Will Put You Out of Business â and Proven Tactics That Really Work. The authors, Timothy L. Keiningham, Terry G. Varva, Lerzan Aksoy, and Henri Wallard are all professionals in consumer loyalty and use their wealth of know-how to dispel commonplace myths and offer insight into what is in reality works.
The e-book chooses an exciting format â the primary six chapters are devoted to disregard over fifty commonplace âloyalty mythsâ and the final chapters are used to studying approximately why clients are loyal and how a loyalty application must be controlled. Each of the âloyalty mythsâ chapters carries numerous âmythsâ grouped collectively by means of common subject matters, including Loyalty Myths That Subvert Company Goals and Loyalty Myths Regarding Employees. The chapters each begin and cease with an instance pulled from the enterprise that encompasses all the myths referred to inside the chapter, with the actual myths discussed within the center.
The authors spend multiple pages banishing each of the fifty-three myths. Some of the myths are matters that we generally tend to take without any consideration, consisting of âCompanies tend to understand their customers,â at the same time as others like âshare-of-pockets increases as patron lifetimes growthâ could seem intuitively proper. For each and everyone, the authors use strong historic information to dispel the parable and show the poor enterprise effects of believing it.
The final chapters awareness on seven âloyalty truthsâ along with âDonât manage for customer retention earlier than you manipulate for client choiceâ and âCustomer loyalty and brand imagery are far from independent; you need to control them hand-in-hand.â The authors do a good task of going via the way to construct and degree a loyalty program around these âtruths.â
The book is an incredibly speedy-paced, unique study. Anyone analyzing the e-book with an open mind will accept it as true with the authorsâ stable reasoning. In precise, enterprise owners, CEOâs, and everybody in advertising and marketing or consumer affairs will directly advantage by way of putting off those âmythsâ from their commercial enterprise and enforcing the âtruths.â This ebook could have a very actual effect on your organizationâs bottom line. Many businesses mindlessly pour money into customer loyalty applications without taking the steps mentioned in this e-book. For a few organizations, loyalty software doesnât even make feel. For others, their software desires a huge overhaul. This e-book will help you discover where your commercial enterprise is and provide you with the gear to make upgrades.
The handiest disadvantage with the e-book is the sheer variety of myths. Many of the âmythsâ combinations collectively and readers might probably be more likely to preserve the âmythsâ if there have been ten as opposed to fifty-three (just like the seven âtruthsâ). The quantity of myths also doesnât permit the authors to go into pretty as much detail as one would really like for each âfantasy.â There are several myths that arenât a lot dispelled in the paragraph or devoted to it but inside the context of the entire chapter. It simply seems like it'd have made more feel to mix a few of the myths.
Overall, Loyalty Myths: Hyped Strategies That Will Put You Out of Business â and Proven Tactics That Really Work is a fairly wonderful and enlightening read. Anyone that has an interest in consumer loyalty will analyze a first-rate deal of without delay relevant statistics that can store their enterprise money and help differentiate them from the opposition.