What do we mean when we say "Strategy and Profitability Built by Loyalty and Loyalty built on Promises?" After years of consulting with companies of different sizes, in different industries and providing both products and services, there is one thing we can absolutely say for certain - the Profitability (defined in very specific ways) of any organization is directly linked to the degree of Loyalty exhibited by their Customers, Employees, Partners and other stakeholders.
We define Profitability in very concise and measurable terms, tied directly to the economics of the organization - such as revenue generation, cost reduction and overall performance. We do not focus on areas that are not measurable or that are "soft" and "squishy." Many think when organizations focus on improving the Loyalty of their constituents it is all about "smiling more" and "just being nicer" to everyone - BUNK! If it was that easy, there would be a lot fewer books on the subject and there would be a lot more happy customers than there are today.
We believe, and wrote our book around this concept, that the Customer Experience should be an "integrated business process" and for those organizations that treat it as such, they are able to link Performance improvements directly to increases in Loyalty and decreases in acquisition costs and other inefficient processes.
When organizations embrace and executable strategy focused on building Trusted, Loyal relationships with their Customers, Employees and stakeholders, they enter into a new world of thinking that changes their perspective forever. We help organizations find and build this perspective. Loyalty comes at a price, but more of a price of commitment than dollars. It is the commitment by senior management and the people in the organization that builds Trusted and Loyal relationships.
We created the concept that Promises Made = Promises Kept™ some time ago as the foundation for building Trust and ultimately Loyalty. Please see our discussion around these Promise Concepts to gain a better understanding of what they mean in depth. Suffice it so say, if an organization understands the Promises their constituents want them to keep and keeps them, they will be on the road to building Trust. Once they have established a certain level of trust, they will then begin to establish a Loyal relationship with each other. Once Loyalty is established, the organization can operate at maximum efficiency in serving their constituents and Performance increases. That is how we link Performance to Loyalty and Promises. It is exciting and it is powerful and best of all, it is simple.