Why Loyalty Matters: The Groundbreaking Approach to Rediscovering Happiness, Meaning and Lasting Fulfillment in Your Life and Work

The authors of this book piqued our interest with the belief that businesses exist not to make a profit, but to create a customer. This was a belief by Peter Drucker that was quoted in the book, but still carries great weight considering that most businesses focus solely on the bottom line. The open neglect for the customer is what strands most businesses without a reliable source of revenue, so reading a book that focuses on the customer is refreshing. We found the “Economics of Loyalty” to be one of the most compelling sections, if not for the firsthand impact that employees have upon the company, then for the impact that they have upon the customer. The four qualities that the book points out have a profound impact upon the customer: capability, satisfaction, loyalty, and productivity. We also appreciated that the book understood that perception is reality; though we may believe that we have attained or conveyed a certain level of loyalty does not mean that it has been accepted as such.

Although we cannot complain too much, we still would have preferred for the book to focus solely on loyalty from a business standpoint. Much of the book is quite interesting, but for the business professional, it tends to be worthless within the workplace. While, yes, some of these would apply to interoffice politics and the balancing of workplace authority, none but the Economics of Loyalty apply directly to a part of the business that can translate into a better experience for the customer. Rather than on an individual basis, the book would have more couth if it was written from a business perspective. We also were left wanting some sort of methodology surrounding the concept of loyalty. Throughout the book the authors point out how loyalty is key to relationships but is declining, yet they do not present a way for loyalty to be reintroduced into the fold of either business or personal life. This leaves us at a standstill for more content and ways for us to actually apply what the book suggests.

“Why Loyalty Matters” provides compelling insight into how loyalties, large and small, offer the prescription to the emptiness many feel in their lives, and to the increasing fragmentation found in communities through failing businesses.

This book presents how loyalty has become a key factor of many facets of life. for the business professional, however, much of this book is too personal and is therefore extraneous. Of the book, the key section for the banking industry weighs heavily in favor of the Economics of Loyalty, with Toxic Loyalty having limited value. Low and middle level managers would benefit from understanding how the Economics of Loyalty translates into continued employee retention and productivity. Additionally, upper management would do well to understand the emotional impact that a loyal and trustworthy brand has upon the consumer base. This has the potential to create an influx of repeat customers, which are the bread and butter of any business.