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Loyalty focus: Shattering the myths of loyalty marketing
Author: Niki Harwood
May 23, 2006
In a 1990 Harvard Business Review article, Bain consultant Frederick Reichheld and Harvard Professor W. Earl Sasser, Jr. captured the attention of the business community with the promise, "By reducing customer defection by a mere 5%, companies can boost profits by 25% to 85%." This enticing claim rocked the business world and "jump-started" the customer retention movement - in its infancy at the time. Several additional HBR articles and a great many books in the intervening 15 years have further promoted customer loyalty as an almost universal cure for many of the problems plaguing marketers today. For more information, click The Loyalty Guide.
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