Tag Archives: Loyalty

What Keeps Leaders Up at Night

No matter how successful you are, if you’re like most leaders, you’re occasionally plagued by the doubt that accompanies typical management questions.

In her book, What Keeps Leaders Up at Night, Nicole Lipkin provides the following 2 pieces of advice: Don’t be:

  1. Too afraid to lose: A leader afraid to lose will paralyze himself by
  • Worrying excessively about failing to get the right results
  • Questioning and second-guess every step of the way
  • Avoiding decisions and commitments that might cause mistakes
  1. Too busy to win: Excessive busyness can impair performance and productivity, making you increasingly forgetful, fatigued, and prone to poor decision making and problem solving.
  2. Too proud to see: We all get wrapped up in our own ideas by
  • Letting yourself get so tied to an idea that you won’t let it go
  • Refusing to heed the advice of others
  • Relying on your past successes at the expense of weighing different patterns, options or solutions.

To avoid these pitfalls, a leader must be self-aware!  Taking a moment to reflect and eliminate any unproductive behaviors will make you a better leader and help you to sleep better!

For an honest assessment of your leadership style and to learn how to energize your inner powers despite the outer pressures, call Dianne Durkin, author of The Power of Magnetic Leadership, at 603-334-3401!

socially-responsible

Relationship Economics

What’s the most valuable asset you or your business possesses?  Is it your physical resources?  Your intellectual properties? Your work force?  Your skills and knowledge?  All are important aspects of business success.  But you can’t get the most advantage from any one of them if you don’t make the right strategic investments in your relationships.  It’s called building relational capital. 

David Nour in his book Relationship Economics offers 3 things you can do to build relational capital:

 

Become More Interesting:

Did you know that only an estimated 27 percent of all Americans have a valid passport?  Travel, whether domestically or abroad, is a perfect opportunity to expand your horizons, provide unique perspectives on very different social styles, and in the process, hopefully provide you with a new outlook on not only how we as US citizens view the world but also how the rest of the world views us.
Build a Personal Brand:

Regardless of your profession, when others engage you, buy from you, work with you, or trust and invest in you, they are in essence buying three things: your product or service, the perception of the company behind the product or service, and the brand called you.

 

Become Known for Content:

As a mentor often reminds me, “If you don’t toot your own horn, there is no music!”  How are you combining content – your unique ideas, insights and perspectives – with context and applying it to specific situations of others to improve their condition?

 

Dianne Durkin, President of Loyalty Factor, offers training and personal coaching with particular emphasis on building relational capital.  Contact Loyalty Factor (www.loyaltyfactor.com) today at dmdurkin@loyaltyfactor.com to schedule your session and get moving forward towards building a strong personal brand!

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Your Inner Leader

Your “Inner Leader” by Robert Landau

Are you a leader in your life?

A leader envisions a task, and then goes about accomplishing that task in the best way they can.  Motivational leadership happens when others watch a leader facilitating a task and admire the way they go about it and the results they’ve gotten.

Each one of us has an “Inner Leader”.  It comes to the fore when we stand out of its way.  It has everything to do with confidence and positivity.  If you let your “Inner Leader” lead you in life, you will reach the finish line even before you realize that you’ve gotten there.  Leadership is a part of your heartbeat, it’s a part of your breath and it’s who and what you are.

Here are seven easy-to-follow steps to life leadership:

  1. Believe there is a leader within you.
  2. Map out how you will get from A to Z for any task that requires leadership
  3. Believe you can get there
  4. Feel what it’s like already accomplishing the task even though it hasn’t happened yet
  5. Repeat step 4 as often as possible until the results are achieved
  6. Stand out of the way and let it happen
  7. Don’t worry about WHEN your goal will be achieved, just KNOW it will happen when it is supposed to.

Leading is something you came here to do.  It’s your path, it’s your life, it’s your destiny.  All you have to do is stand out of the way!

Dianne Durkin offers personal coaching services and leadership programs to guide individuals to tune into their “Inner Leader”.  Contact Loyalty Factor today to schedule your coaching or training sessions.  603.334.3401

 

Source: RobertLandauMotivation.com, August 31, 2013

Info Exchange – The Value of Loyalty

Welcome to the Loyalty Factor Information Exchange, a bi-weekly service providing summaries of major publications and books on various management and customer relationship topics. 

 Loyalty Factor has been instrumental in helping companies:

  • Increase Customer Satisfaction by 20 – 33%
  • Increase Revenues by 50% in 18 months
  • Increase Manufacturing Production by 200% in 18 months
  • Simplifying mergers and acquisitions

  

Our information exchange this week highlights Loyalty Factor President Dianne Durkin’s insights on the value of building loyalty within your organization as well as your personal and professional lives.  

 

The Value of Loyalty

Over the years I have spoken a lot about loyalty in the corporate world. Today I want to speak about loyalty on a personal level.

 

Loyalty is one of those qualities that people admire most in others. People value it more than almost any other quality. They try to teach it to their children and emphasize it to their staffs. They also try to gauge it when deciding on business and personal relationships.

 

Much like the word integrity, loyalty is something many people throw about freely. There is no doubt loyalty lets people know where you stand. At the same time it requires that you speak truthfully to the people and organizations to which you are loyal. Loyalty requires honesty. In business or in personal relationships, loyalty is indispensable.

 

When asked why people stay loyal, many answer, “It’s the belief”. Belief and loyalty make a huge combination – belief in the person, belief in the individual, belief in the company, and belief that the loyalty will pay off in the long-term. Unfortunately, we live in a world with increasing short sightedness and this affects our loyalty.

 

Each time we are loyal and judicious, loyal and not fanatical, loyal while understanding the road to be taken, loyal without offending others, we reinforce one of the pillars and one of the most admired attributes in ourselves and others – LOYALTY.

 

For more information on how to build the Employee Loyalty, Customer Loyalty, Personal Loyalty and/or Brand Loyalty in your personal and professional relationships as we head into the New Year, contact Dianne Durkin at (603) 334-3401 or email her at dmdurkin@loyaltyfactor.com.

 

In her keynote on “Managing Change” Dianne Durkin highlights the value of risk in creating successful opportunities.

Marketing Insider – Loyalty: The ‘L-word’ of Customer Relationships

In the recent edition of Marketing Insider, President and Founder of Loyalty Factor, Dianne Durkin, was the Loyalty Expert featured in the cover story Loyalty: The L Word of Customer Relationships.

Statistics vary, but it’s generally accepted that it costs you anywhere from six to 20 times more to gain a new customer than it does to keep a current customer.

 

However, true value extends beyond the numbers. If you have loyal customers, they’re praising you and recommending you, in turn, doing some of that outbound marketing for you. But what makes a customer loyal? And if the relationship is broken, how do you fix it?

 

Dianne Durkin, founder and president of Loyalty Factor, a consulting and training company that enhances employee, customer and brand loyalty, says customer loyalty is actually a partnership. To glean the most value from customers, you need to provide value to them, too.

 

Loyal customers help your business grow

 

They are your biggest advocates. They recommend you and can introduce you to new clients. And they don’t mind at all. According to Durkin, using these advocates as references helps them to feel needed and valued which translates well into something crucial for relationships: rapport and true connection. “People buy from people, they don’t buy from companies,” Durkin says. “To build rapport, treat other people the way you want to be treated and always build trust.”

 

It’s important to nurture your customer relationships and avoid breakdowns in communication. Durkin says one of the most common ways to lose loyalty is failing to follow through on what you’ve promised, frequently a delivery date or time. What is the cost?

 

• A dissatisfied consumer will tell between nine and 15 people about their experience. About 13% of dissatisfied customers tell more than 20 people. (White House Office of Consumer Affairs, 2011)

• 86% of consumers will pay up to 25% more for better customer experience. (Harris Interactive, Customer Experience Impact Report, 2011)

• It takes 12 positive service experiences to make up for one negative experience. (“Understanding Customers” by Ruby Newell-Legner)

Remember those VIPs known as company advocates? Losing a customer means you’re also losing all of the additional business an advocate could have sent your way. So, how do you repair the damage that’s done?

 

Durkin says one of the most important things to do after admitting a mistake is to ask a customer how you can make it up to them. This means listening. “Questions are your secret weapons,” she says. “Ask, ‘What would you recommend I do to help in this situation?’ Or, ‘If you were in my shoes, what would you do?’”

 

Unhappy customers have many more communications channels and ways to reach a larger audience than ever before. Here are some of Durkin’s “fix-it” strategies:

 

Negative online review


Some may not be worth paying attention to, but those that could have far-reaching effects should be addressed. If possible, send a personal email to the disgruntled party and post a public response that explains your steps to make it right.

 

Negative comments on social networking pages


The right approach is situational, but Durkin recommends always keeping your social network current with your most positive commentary. Delete comments that are inappropriate or offensive. Engage your advocates, and ask if they’ll reach out to others on your behalf. When you have advocates willing to help you, Durkin says it’s best to draft what you want to say and then have your advocates deliver your messages.

 

Email with an error


Should you send a correction? According to Durkin, it depends. A misspelling of a customer’s name may not be worth calling attention to, but if you have an erroneous amount in an offer, that’s a different story. Durkin recommends sending a correction email that says: “In the excitement of this offering, we miscommunicated. We want to take the opportunity to clarify and to thank you for your business.”

 

Dormant accounts


How do you determine if you’ve let these former customers down, and how can you win them back?

 

Pull out a list of those with whom you haven’t done business in the past year. Mail a letter, package or postcard to them with a “welcome back” offer, if appropriate.

 

“Or hire an outside firm to call dormant accounts,” Durkin says. “They will tell the surveyor things they will never, ever tell you. To get the most useful information, the surveyor should ask specific questions such as, ‘Tell me why you no longer do business with company X.’ and ‘If there’s something company X needs to stop doing, what is it?’”

 

Durkin says that even after getting responses, more questions should be asked. For example: if a customer says you can win them back with a discount, ask why it’s important to them. There may be a buried solution to uncover. And overall, these calls should always sell the value of what you offer that can’t be found anywhere else.

 

http://www.allegra-east.com/thinking-behind-marketing-results/insider

 

©2012 Allegra Network www.allegranetwork.com

Posted with permission

 

For more about how Dianne Durkin can help you build loyalty within your organization, as well as help you outline and prioritize major success initiatives, contact her organization Loyalty Factor. Loyalty Factor is well known for helping companies build employee loyalty, which builds customer loyalty and ultimately drives brand loyalty.

For more information about how Dianne Durkin can help and support your organization, call 603.334.3401 or visit www.loyaltyfactor.com.

Magnetic Leadership: Its Time to Get R.E.A.L.

In today’s fast moving global economy, change is inevitable.

In fact, leaders need to be continually seeking improvements in processes and procedures to maximize efficiency and effectiveness.

 

 

In the coming weeks, I’ll be focusing on the power of magnetic leadership and how you can energize your organization today by taking steps to arm your employees with the knowledge and stamina to regularly carry out the organization’s goals, and how to create an environment that nurtures and supports results.

 

I like to use the R.E.A.L. acronym as a guide.

 

R

is for recruiting the right people at the right time
in the right place and retaining them.

E

stands for engagement, empowerment and enrichment

A

means appreciating employees

L

stands for leadership and building loyalty.

 

There are many myths about leadership that often prevent people from developing their leadership skills.  They think if they were not born a leader with some magic leadership dust in their DNA, they cannot become one in the future.

 

While some people may be more natural leaders than others, some of the best leaders I have worked with are men and women who went beyond cultivating their own leadership skills and instead created a culture of leadership in their organizations. The reality is that leadership does not belong to just one person.  Leadership inspires others and becomes a contagious force throughout an organization.

 

I’m excited to share how a leader can be a magnet for attracting and retaining top talent while maximizing their skills and efforts to build profitability and productivity.

 

Let’s Get R.E.A.L.

 

 

Dianne Durkin is president and founder of Loyalty Factor, a specialized consulting and training company that enhances employee, customer and brand loyalty for some of the nation’s most prominent corporations and many smaller businesses. Dianne’s proven expertise lies in helping companies quickly get to the core issues and outlining their impact on the organization’s profits, productivity and people.  www.loyaltyfactor.com

Five Strategies to Creating Loyalty

In my last Blog, I listed five essential strategies that reflect a structured approach for developing commitment to the organization’s vision and strategy.  Now I would like to discuss each of these at length.

Strategy 1: Engage employees in discussion  

With anxiety and fear being high in the employee ranks, it is ever more important for management to create and sustain a meaningful open conversation with all employees.   

Managers at every level, starting from the top, should actively challenge and encourage staff to contribute thoughts, ideas and creative solutions to improve their jobs, their departments and the overall operation of the organization.

Strategy 2: Create focus and shared vision

This is even more important during times of great change.  Strategies must be continually reviewed and shared with all employees to ensure every person in the organization is aligned with the strategies. 

Strategy 3: Communicate, communicate, communicate

I can’t emphasize enough how important communication is. Managers must share the vision, values, and positioning of the organization on regular basis.

This is most critical if the workplace is volatile or unstable. Employees can bring the vision and strategies to life only if they have an in-depth understanding of company goals and standards so they can elevate them to reality.

Strategy 4: Empower individuals to solve business issues

Individual contributors know exactly what has to be done to improve efficiency or effectiveness.  As leaders and managers it’s up to you to empower them to formulate the solution and allow them to share it with management.

Strategy 5: Continuous evaluation and feedback

No matter what sector you are in, sustaining best position requires continuous improvement. Evaluate your strategies on regular basis. Create a competitive edge and help employees feel they are continually growing and improving.

Employees and customers together build a company’s brand. Employee loyalty builds customer loyalty, which builds brand loyalty. It’s as simple – and as difficult – as that.  

Dianne Durkin is president and founder of Loyalty Factor, a specialized consulting and training company that enhances employee, customer and brand loyalty for some of the nation’s most prominent corporations and many smaller businesses. Dianne’s proven expertise lies in helping companies quickly get to the core issues and outlining their impact on the organization’s profits, productivity and people.  www.loyaltyfactor.com

How Do You Create Loyalty in Current Corporate Culture?

Let’s face it, the downturn economy has led many organizations and employees to question loyalty issues in the workplace.   “Should there be loyalty?”  

With change being necessary and inevitable in today’s fast moving global economy, successful leaders have to continually seek improvements in processes and procedures to maximize efficiency and effectiveness across their organization. 

True leaders and managers initiate and stimulate change.  Smart executives recognize that change in fact sustains an organization helping it grow.

This is true no matter what sector of the industry you are in, with the most drastic changes making loyalty more important than ever before. 

Employee Loyalty drives creativity, innovation, and productivity that result in improved performance, and profitability.  

There are five essential strategies organizations can implement to create and foster increased loyalty among employees, customers and other stakeholders — these five strategies are sure to fuel momentum by engaging and valuing every constituency in an organization at every level and within every department.

  1. Engage Employees in Discussions
  2. Create Focus and Shared Vision
  3. Communicate, Communicate, Communicate
  4. Empower Individuals to Solve Business Issues
  5. Continuous Evaluation and Feedback on Results

 

In my next Blog, I will discuss how organizations can use these five strategies to develop individuals’ commitment to the organization’s vision and strategy.

Dianne Durkin is president and founder of Loyalty Factor, a specialized consulting and training company that enhances employee, customer and brand loyalty for some of the nation’s most prominent corporations and many smaller businesses. Dianne’s proven expertise lies in helping companies quickly get to the core issues and outlining their impact on the organization’s profits, productivity and people.  www.loyaltyfactor.com

What is the Loyalty Factor?

 

In its second printing, it is one of my new books and the name of my company!

The Loyalty Factor, LLC has been in business for over 15 years. The premise on which I built this business is that loyalty is not dead – it’s just been hiding.

The Loyalty Factor is what happens when company leaders and managers create an environment in which loyalty can thrive.

 

 This is an environment where people:

  • Are energized to promote loyalty from within the organization
  • Stimulate creativity and innovation
  • Create a favorable brand perception among consumers and stakeholders
  • Feel appreciated and recognized for their efforts
  • Feel like they are in on things
  • Know how their contributions make a huge difference in people’s lives

 

When these factors exist, loyalty follows, and organizations will see:

  • Lower employee turnover
  • Increased productivity
  • Higher profitability

 

Companies that have been on the list of Most Admired, Best to Work For, and Best Run, share the characteristics defined in The Loyalty Factor

Using the strategies in this book, we successfully resuscitated a corporation in this downturn economy. It increased its product shipments from $385K to $8.1 million in 18 months.  We did this by engaging, empowering and energizing the employees around a very clear, concise and meaningful purpose.

To Refuel, Recharge and Reenergize Your Organization, order my book today and start seeing your productivity and profitability increase.

Employee loyalty drives customer loyalty, which drives brand recognition.

 

 All you need to do is begin.

 

Dianne Durkin is president and founder of Loyalty Factor, a specialized consulting and training company that enhances employee, customer and brand loyalty for some of the nation’s most prominent corporations and many smaller businesses. Dianne’s proven expertise lies in helping companies quickly get to the core issues and outlining their impact on the organization’s profits, productivity and people. www.loyaltyfactor.com