SOURCE: http://gmj.gallup.com CONTACT: The Gallup Management Journal INFORMATION: Editorial and Executive Offices1251 Avenue of the Americas, Suite 2350New York, NY 10020888-274-5447
In this grueling economic environment, it’s certainly endangered. But maybe loyalty has always been an illusion.
November 19, 2009
Marketers can no longer take it for granted. And whether or not customer loyalty is actually a relic of the past, it shows all the signs of becoming an endangered species. A Gallup branding expert offers a deep dive into what the concept of loyalty really is.
Cost curtailment and downsizing aren’t the only approaches to remaining viable in this relentlessly sluggish economy, according to Gallup research. Companies can focus on optimizing the human element of their business by engaging their staff and customers, says the coauthor of Human Sigma.
The recession is perhaps hardest on business-to-business companies; as the consumer economy wheezes, the B2B economy chokes. A few B2Bs -- the ones that really meet their customers’ needs -- will survive. But can they do that without rolling over on price?
“Think globally, act locally.” Microbiologist Rene Dubos’ famous quote applies directly to Gallup’s HumanSigma science: A business can achieve consistent performance improvement and sustainable growth when it focuses its energy on managing the employee-customer interactions at the local level.
