What do you define as loyalty? Loyalty combines words and action. It is time-tested devotion and a quality that is most valued for the steadfast security it brings. Theodore Roosevelt said, “It is better to be faithful than famous”. The American author, Elbert Hubbard agreed by saying, “If put to a pinch, an ounce of loyalty is worth a pound of cleverness”.
In relationships, loyalty fosters trust, security, affection, and boosts the ability to thrive. The same holds for professional relationships: only by fostering loyalty among the customer base will we be able to see our business flourish and reach its full potential.
So how to go about getting this loyalty which your business so badly needs?
The 3 Essential Pathways for Fostering Loyalty
So, you’ve already got some buy-in, whether it’s through your customers, partners, or employees who have entrusted you with their money, business, or their future. At this point, they are looking to you for reassurance that they have made the right decision. Here are three essential pathways through which you can do that:
Inspiring loyalty in others is directly a result of prioritizing people. Companies that recognize people and go the extra mile to cultivate, celebrate, and reward their loyalty will ultimately come out on top in terms of customer retention and employee satisfaction.
Relationally, loyalty builds trust, security, affection, and the ability to thrive. The same is true professionally – only as we build loyal customers and employees will we begin to see business prosper and flourish to its fullest potential. So how can you grow something so intangible, yet so critical, to the foundation of your organization?