Relevance based Loyalty

The traditional loyalty strategy is driven by all forms of incentive tactics. Loyalty points for this, buy one get something for free, click here and get … the list is endless.

Do these incentives really create the loyalty that truly connects the customer to the brand? Well it could be argued that it depends. It depends on what’s being sold, the frequency and volume of purchase and whether it is a service or product. This means that we have to have a way to measure the effectiveness of the program.

In order to design the measurement system we have to consider the potential variables. Including

Knowledge is power?

The truth of this statement depends on where the knowledge is housed. If confined to specific individuals or within specific departments the knowledge power equation can be significantly diluted.

So what’s the Holy Grail, we call it common knowledge. The core competency of any organization to create, maintain and enhance knowledge and understanding of the key business ingredients.

Those that posses this skill have a definite competitive advantage.

One of these key business ingredients is the company’s financial statements or its ultimate scorecard. Approximately 50% or more of mid to senior managers do not have an appropriate understating of the