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The Power of Loyalty: 10 Essential Steps to Build a Successful Customer Loyalty Strategy
DIAMOND
RATING
RATING
Roger L. Brooks, Entrepreneur Books, 2010
Senteo’s Review 
The Power of Loyalty seeks to provide a framework for a successful loyalty strategy in any company. The author starts out with some definitions of loyalty, defining the “loyalty cycle’s ” five steps: identify customers, track spending, motivate behavior, reward performance, and measure results. Each chapter ends with “golden tips” about loyalty. Generally, the book gives a 10-step process for creating a loyalty strategy.
These steps include:
- Recognize that loyalty is all around you
- Know your customers
- Loyalty starts from the top
- Create affinity
- Initiate next-generation loyalty marketing
- Identify your customers
- Track customer spending activity
- Motivate customer behavior to benefit customer relations and profit margin
- Reward customer performance by offering attractive redemption options
- Measure results
The book is an easy read and gives good examples of loyalty programs/strategies at leading companies, such as Starbucks, Verizon, Nordstrom, Subway, CVS, Chase Sapphire, Staples, JetBlue, and others. The author also provides 10 steps (or investments) for providing a loyalty program
While touted as a how-to guide for developing a customer loyalty strategy, this book is more about loyalty programs in simple steps, illustrated with examples. There is one chapter at the end about initiating your loyalty strategy, however this will seem a bit simplified for those looking for more strategy and tactical implementation. It gives just 6 “tips” for this: believe in your strategy, find your internal champion, select good partners, choose attractive redemption options, map out your plan, and set a launch date and go for it. The author in this respect uses the idea of a loyalty program and loyalty strategy interchangeably. For more on this subject, please see the Senteo reviews for The Ultimate Question 2.0 and Improving Customer Satisfaction, Loyalty and Profit.
Loyalty strategist Roger L. Brooks invites you to take part in the growing loyalty movement and shows you how to build a successful loyalty strategy following 10 essential steps. Brooks covers the best practices and proven techniques from more than 12 customer loyalty leaders including: Chase, JetBlue, Verizon, Subway, Starbucks, Nordstrom, Wegman’s, T.G.I. Friday’s, CVS/pharmacy, Bank of Montreal, Saks Fifth Avenue and Men’s Wearhouse. He provides a comprehensive 6-point initial launch plan plus strategy essentials including employee and company introductions to loyalty. In addition, you’ll learn how to incorporate loyalty initiatives into your marketing plans and budgets and identify WOW factors to set your business apart from your competitors.
This book is an easy read for managers interested in loyalty programs and their applications (or misapplications) in building customer loyalty. It gives some common-sense pointers and tips, along with 10 steps for understanding and building a loyalty program. There is little, however in terms of data and specific tactics for successful implementation.
Senteo Subject Category
This book is more theoretical than tactical in implementation or development of a strategy. It is more about creating a loyalty program and general steps therein, with some recommendations and tips.
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See content on this topic
In light of a global trend towards digitalization and online services, Tom Mouhsian explains why physical bank branches are far from an anachronism in a digital world. Explains Why Real Loyalty Has No Expiration Date
What is the difference between retention and loyalty, and between customer-centric and relationship-centric business models? How exactly can one monetize customer experience? Michael Ruckman answers these questions and more…
What is the difference between retention and loyalty, and between customer-centric and relationship-centric business models? How exactly can one monetize customer experience? Michael Ruckman answers these questions and more…
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