Jack Welch on Customer Loyalty

Inspiration for this post -
Customer Loyalty's New Rules - BW Podcast - The Welch Way

Some of Jack Welch's insights from this conversation on the topic -
  • Rules of customer loyalty has changed - there is a paradigm shift

  • Its moving beyond cost, quality & service (the traditional value engines) - which are nice, but is assumed to be a given now & not sufficient for building loyalty

  • Welch suggests - earn loyalty by making yourself indispensible at an intellectual level

  • Its all about your customers winning. To earn loyalty, a supplier should think about ways to provide customers a competitive advantage that no one else can

  • It requires a different mindset - always thinking about how you can make your customers more competitive in their markets, ways to make them win, etc.

  • Its all about getting into an intense partnership with your customers ..if you don't, someone else will.

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