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The article "You Say You Want a Revolution: Three Evolutionary Trends that will Transform Your Loyalty Strategy".
Pages 3 (753 words)
One of the factors mentioned in the article that drive customer loyalty is innovation. I believe that innovation is one of the most important factors for marketers in today’s marketplace.
A company that has been exceeding the expectations of its customers with the innovative technology products is Apple Computers. Apple took over the music player and smartphone marketplaces with the introduction of the IPod and IPhone. The three revolutionary trends that were discussed in the article that can be used to build customer loyalty were the power of networks, the power of data, and the power of convergence. The use of networks can benefit the marketing strategy of a company. Metcalf’s law states that the usefulness or value of a network system equals the square of the numbers of users in the system. The telephone is an example of a product that follows Metcalf’s law. A single telephone is not of much value, but as more people buy telephones the value and utility of the telephone increases. Another example of the power of networks is EBay. Buyers and sellers at EBay depend on each other for the marketplace to be liquid. As more people join the EBay network the business model continues to thrive. The article mentioned the case of Hewlett-Packard. The company created a loyalty program for its technical users. The program was very effective at bringing IT users together. Four tips for leveraging your network are know your customer base, create virtual sharing environments, build community through tangible assets, and networks are a means to an end. The second important factor mentioned in the article was the power of data. ...
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