Millennials and loyalty

Ever since Salesforce.com CEO Marc Benioff declared that “Loyalty is dead,” in a November 2017 interview with Mad Money’s Jim Cramer, business leaders have been wringing their hands.  But listen beyond the attention-getting soundbite, and you will learn that what Benioff is talking about is the way businesses define customer loyalty, i.e. as a program. That is not how customers look at it. Benioff rightly says that loyalty is shifting from points accrued and spending rewarded to a how customers view their whole engagement with the brand, their journey, their experience and in many ways, how they are made to feel part of a community with the brand. Read more…