Loyalty Myths: Hyped Strategies That Will Put You Out of Business and Proven Tactics That Really Work
Timothy L. Keiningham, Terry G. Vavra, Lerzan Aksoy and Henri Wallard, 2005
John Wiley & Sons Inc. ISBN 0-47-74315-1
In Loyalty Myths, business strategists (and renowned authors) from one of the world's premier business research firms reveal the ugly truth about customer loyalty: almost everything businesspeople have been told about it is wrong. Most popular loyalty maxims are based on questionable data or on a faulty reading of good data. Managing for customer loyalty doesn't pay off the way it's been promised unless loyalty initiatives are focused on the right customers. And, contrary to conventional thinking, not all customers become more valuable over time. Some do just the opposite; they cost the company profits over time.
Based on hard science and even harder data, this book smashes 53 frequently touted platitudes and the oversimplifications abounding in the customer loyalty literature. Offered in their place is a more realistic loyalty planning process drawn from and validated by the work of the authors and leading marketing scientists that will truly help companies profit from nurturing loyalty among the right customers.