Loyalty Tales Chapter 1 & 2
Chapter One: The CEO of Acme Inc. calls for an intellectual pilgrimage by his Executive Leadership Team
The Acme Inc. CEO Harry Bailly dropped his eyeglasses on the desk and grimaced with displeasure. He glanced again at the customer retention report and shivered slightly at the graph that clearly tilted down to the right. “Why are they not coming back to buy again?”.
He clicked again and frowned at the report on customer loyalty costs. His blood pressure spiked as he considered the increasing expense of rewards, discounts, and incentives, all aimed at keeping customers buying.
‘Enough,‘ he thought to himself, “I am sick of pretending we are powerless when it comes to customer loyalty; it is time we made customers the centre of our thinking. At every Leadership meeting, we tut-tut about falling repeat purchase rates and then move on to approving the next discount marketing campaign as if that’s the only solution.”
“I am going to start a program of work for my Executive Team that will focus on customer loyalty. A virtual, intellectual pilgrimage to Kirkaldy, the burial place of Adam Smith, who first identified customers as the source of the Wealth of Nations; It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages." He thought a little smug at his own cleverness.
“ I will schedule a series of storytelling sessions for my congregation of managers, regular meetings where each will share a tale of customer marketing and customer issues with the group. At the end of the pilgrimage, we will have a team of customer experts, and we will build a strategy to bring back our customers and our profitability.”
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