Yesterday Hyatt’s Jeff Zidell tweeted an article from Harvard Business Review highlighting, “[c]ultivate gratitude and loyalty will naturally follow.”
The piece suggests that ‘loyalty needs to be reciprocal’. I suggest that means striving to deliver as much value as possible to customers, and continuing to look for ways to do more (while pricing your product at a level that earns a strong rate of return). Figuring out how much you can take away from your customers, or viewing your customers transactionally, undermines loyalty. In the airline space that means re-commodifying your product, and undoing the great work frequent flyer programs have done to create differentiation amongst what’s otherwise just a seat from city A to city B.