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Monday, May 20, 2013

How to Get Raving Fans for Your Brand

Customer Loyalty Matters

1. It is easier to up-sell and cross-sell loyal customers
2. Loyal customers are your free marketing agent (or brand “ambassador”) to help build your brand
3. It is more expensive to acquire new customers than to up-sell and cross-sell your regulars
4. Customer loyalty can insulate your business from price competition.
5. Loyal customers are a good source of honest, quality feedback

Increasing customer satisfaction, boosting employee engagement, and enhancing the bottom line is the focus of “Driving Loyalty: Turning Every Customer and Employee into a Raving Fan for Your Brand” by Kirk Kazanjian

If you work in an unsexy industry, lure talented employees with fast tracks. “If bright candidates worked hard and proved their abilities,” writes Kazanjian about car rental giant Enterprise, “they had the potential to run their own branch office within a couple of years.” page 46

Give routine and candid assessments of your employees. “Even though it may not always be positive, employees actuall like to get feedback,” writes Kazanjian. “This lets workers know where they stand and gives an opportunity to set performance goals.” page 93

Foster company loyalty with membership programs offering tangible benefits. “Research shows that 82 percent of affluent customers belong to loyalty programs, compared to 74 percent of the general population,” writes Kazanjian. page 184

Companies need to be socially and environmentally conscious. “When considering two brands of a similar price and quality, 80 percent of consumers would be willing to switch to the more sustainable option,” writes Kazanjian. page 230

“Driving Loyalty” is an insider’s look at Enterprise Holdings, owner of the Enterprise, National, and Alamo rental car brands. It shows how Enterprise began operating these three distinct brands in a way that ultimately led to rising profitability and some of the highest customer and employee satisfaction scores in the industry. And then offers insight to how other thriving companies like Costco, JetBlue and Starbucks use similar techniques to stay ahead of the competition and turn customers and employees into raving fans.

Want a copy of "Driving Loyalty"?
CLICK HERE to go to the
Driving Loyalty page on Amazon.

Source: Driving Loyalty (Crown Business) - Kirk Kazanjian,
Bloomberg Businessweek 5/6-12/13

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