Wednesday, January 18, 2012

A Best of Barry: What is Loyalty?

Lots of efforts focus on loyalty. Lots of money is spent on measuring it, learning where it's lost, learning what can increase it, etc.

But what is the definition of loyalty? If a company offers me a couple grand off my next purchase and I buy their product because of it--does that constitute loyalty, or does it constitute a good deal?

Why judge my loyalty only after years of owning a product? Why not consider (and treat) me as loyal the moment I buy that product and put down thousands of dollars?

Am I a loyal employee if I stay an extra year to get my bonus or because I have golden handcuffs and can't leave?

People are loyal because they choose to be, for reasons independent of a bribe (cash). When we believe and buy in, we are on the road to loyalty. Let's call the other stuff what they really are: special deals, discounts, bonuses, etc.

Barry LaBov
LaBov & Beyond
Originally posted 10/04/10

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