trippin_the_rift
Established Member
- Joined
- Apr 2, 2006
- Posts
- 4,003
I am absolutely gobsmacked by the comment "Loyalty, btw QF, is a 2 way street". This is exactly what Qantas is now saying - if you are going to sleep with the opposition then don't come around for dinner at my place before/afterwards because that is plain insulting.
This is not entirely correct...
Based on thousands of studies costing billions of dollars conducted worldwide over the past decade on internet companies, mobile companies and banks - we know that loyalty is based on your future commitment and very little weighted on past spend.
To gain future commitment, business needs to invest in their customers the same way customers invest in the business through choice of spend.
Consider this... you've been buying BMWs all your life (loyal customer), then one day you buy an AUDI, simply because BMW does not have a product at the right price and time you need. Chances are your next car will be a BMW.... but if BMW were to stop inviting you to track days, free overnight drives and such... they would lose your respect, build up goodwill and your spend - in a heartbeat, essentially erroding years of marketing $$ aimed at you falling in love with bmws.
Whoever at QFF came up with the idea of destroying goodwill clearly has no practical knowledge of loyalty, business or the real world.
I'm betting my first born on this biting them in the cough 1000 fold the cost savings. Watch this space.