When management teams are looking at the loyalty of their customers, oftentimes it can seem overwhelming. They know that they need to grow and improve their loyal customer base because, as we’ve seen, loyal customers drive an average of 65% of a company’s profits and enterprise value. However, in an effort to strengthen relationships with …
Does Growth Equal Success? How does your association define success? Are you still using the same definition of success as you were five years ago? Ten years ago? Twenty? We speak to association leaders every year who give the same answers that have been given for the past two decades: Membership growth; Retention rate; Revenue …
Earlier this month, I had the tremendous opportunity to sit down with associations consultant Mary Byers and contribute to her conversation on Momentum: Where to Get It & How to Keep It. Mary and I have had the opportunity to discuss several of these topics in a variety of settings over the past two years …
This year at LRC, we’ve been having more conversations around the idea of “good fit” customers vs. “bad fit” customers. Generally, bad fit customers are not only vulnerable customers, but have needs that do not align with your business model. Looking at associations, we find something similar. As associations and professional societies have looked to increase membership …
Chris Zook’s book, The Founder’s Mentality, makes the point that a successful and growing enterprise has a great relationship with customers AND has a highly engaged employee base. From his perspective – and that of many others – it takes both to be successful. How does that play out in practice? Do they always move …
What is the Linkage Between Employee Engagement and Customer Loyalty? Read More »
