For over 200 years loyalty programs have hovered around enticing customers to come back for more.
This book is a departure from what we have known and adhered to for the past 200 years
It provides a new framework with four axioms of loyalty and four L&S Principles supported by over 30 true accounts. A new concept of Latency Factors, based on cognitive bias and mental patterns, that identifies the blind spots in our thinking, is also introduced in this book. The relevance of this book is timely as the world is witnessing rapid digital progress. Only if basic definitions are precise, then advanced algorithms will be useful for worthwhile human progress.
This book alters the definition of customer loyalty as it is known to the world today. It offers a new context for measuring the factors of loyalty. The relevance of this book is apt as the world is witnessing rapid digital progress. Advanced algorithms can serve the cause of human progress only if basic definitions are precise.
Mr. Ratan N Tata, Chairman Emeritus, Tata Sons, has endorsed my views and stressed in his Foreword that the inexorable digital progress generates a necessary call to action. "These advances highlight the need to revisit old definitions of customer loyalty which can no longer be defined merely by repeat purchase. The book proposes a new definition of customer loyalty and provides all the numerous new-age factors that affect it."
Time and again, many have illustrated the inadequacy of the definition of 'customer loyalty' as it stands today. A Gartner Study titled "Customer Loyalty Myths Debunked" states: "Many companies try to drive customer loyalty by delighting customers -- exceeding their expectations with above-and-beyond service. This strategy is difficult and costly to deliver. Worse, it fails to provide a proportional increase in loyalty..."
This book hopes to open up a new conversation on the subject. The central premise of the book is: Loyalty and Sacrifice are inseparable. In the case of war heroes and employees, sacrifice is well-recognized and celebrated. As regards customers, the big question is: are customers capable of sacrifice?
In his Preface to my book, the legendary Lateral Thinking guru Dr. Edward de Bono emphasizes: "This book opens a new conversation, and I am hopeful this book will help a discussion on the hidden facets of loyalty."
