The Golden Rule of Customer Loyalty
Are you a Loyalty Leader? When people ask your customers about your business, what will they say? Izzy Sharp, founder of the Four Seasons, Colleen Barrett, CEO of Southwest Airlines, and other true Loyalty Leaders live by the “golden rule.” Relationships worthy of mind share and investment are based on the simple notion that we should treat our customers the way we would want and expect to be treated. Sound trite? These Fortune 500 companies and others, including eBay, have built their business model on this key idea of building relationships of integrity with their customers.
Fred Reichheld contends that in every interaction with your customers, you have an opportunity to create Promoters, Passives, or Detractors. Companies with the highest loyalty see properity as a second-order benefit – where the true primary goal is to create authentic relationships based on the golden rule. Money will follow.